By the end of the third quarter of 2022, Anglo-Asian Mining Plc. had $15.3 million in cash, Report informs according to the company’s report on the results of the third quarter and nine months of 2022.
The amount of cash of the company is $15.6 million or 2 times less compared to the indicator at the end of the third quarter of 2021, $5.9 million or 27.8% lower than the indicator of the first half of 2022.
As of June 30, 2022, the amount of the company's cash was $21.2 million, and as of September 30 of last year - $30.9 million.
During January-September of this year, Anglo-Asian Mining Plc. paid a final dividend of $4 million for 2021. In nine months of this year, the company paid $0.3 million in profit tax.
In addition, during this period, the company made an additional investment of $0.8 million in Libero Copper & Gold Corporation and spent $1.2 million for the purchase of information from AzerGold.
Anglo-Asian Mining is engaged in production in Azerbaijan within the PSA (Production Sharing Agreement) signed on August 21, 1997. Azerbaijan’s share in the contract is 51%, Anglo-Asian Mining Plc. The company’s share is 49%. The first gold production (in the Gadabay field) was started in 2009.
Gadabay is an open pit mine with integrated mines. The company is engaged in production in the Gosha underground mine, 50 km away from the Qadir and Gadabay fields located in the area, as well as in the newly discovered Ugur field.