Anglo Asian Mining PLC Appointment of Non-Executive Director (0803J)
December 18 2020 - 1:00AM
UK Regulatory
TIDMAAZ
RNS Number : 0803J
Anglo Asian Mining PLC
18 December 2020
Anglo Asian Mining plc / Ticker: AAZ / Index: AIM / Sector:
Mining
18(th) December 2020
Anglo Asian Mining PLC
("Anglo Asian" or the "Company")
Appointment of Non-Executive Director
Anglo Asian Mining plc, the AIM listed gold, copper and silver
producer focused in Azerbaijan, announces the appointment of
Michael Charles Sununu, as a Non-Executive Director with immediate
effect. Michael is the son of Governor John Sununu, a director of
Anglo Asian.
Michael has a B.Sc. from the Massachusetts Institute of
Technology and an MBA from The Kellogg School at Northwestern
University majoring in finance and accounting. He brings a wealth
of financial and directorial experience to the team. Michael has
worked for JP Morgan's Oil and Mining group and his experience
there included debt restructuring and the Initial Public Offering
for Consol Energy. He has managed trust funds throughout his
successful career, including Hudson Seven LLC, where he was a
founder. His work has included developing supply, demand and
pricing models for several weather influenced commodities.
Currently, Michael is a founder and manager of Sununu
Enterprises LLC and Sununu Holdings LLC, which specialise in
planning and project development for major corporations and
medium-sized firms, as well as providing strategic advisory
services. Michael also presently serves as a Board Member for
Purpose Energy Inc. and as a member of the Investment Committee for
the New Hampshire Historical Society.
Anglo Asian Chairman, Khosrow Zamani, said "I would like to
warmly welcome Michael to Anglo Asian. He is an accomplished
businessman with deep knowledge and experience in finance, project
development and natural resources. This will prove an invaluable
asset to the board as we continue to focus on growing the business.
Michael has been appointed following the departure from the board
of Richard Round. I would also like to thank Richard for his work
and commitment to the Company over the years."
Mr. Sununu, aged 53, currently holds or has held the following
directorships and partnerships in the last five years:
Current directorships / partnerships Previous directorships / partnerships
Gamilon Empire LLC Optima Bank and Trust
--------------------------------------
Hydrosource International LLC
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Purpose Energy Inc
--------------------------------------
Ratepayers Legal Defense Fund
--------------------------------------
Sununu Enterprises LLC
--------------------------------------
Sununu Holdings LLC
--------------------------------------
Sununu Partners LLC
--------------------------------------
Tyrell Development Company
--------------------------------------
X-Corp Investments LLC
--------------------------------------
Mr Sununu holds no ordinary shares or share options in the
Company.
Other than as provided in this announcement, no other
disclosures in relation to Mr Sununu are required under Rule 17 and
schedule 2 (g) of the AIM Rules for Companies
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
**ENDS**
For further information please contact:
Reza Vaziri Anglo Asian Mining plc Tel: +994 12 596 3350
Bill Morgan Anglo Asian Mining plc Tel: +994 502 910 400
------------------------------ ----------------------
Stephen Westhead Anglo Asian Mining plc Tel: +994 502 916 894
------------------------------ ----------------------
Ewan Leggat SP Angel Corporate Finance Tel: +44 (0) 20 3470
LLP 0470
Nominated Adviser and Broker
------------------------------ ----------------------
Adam Cowl SP Angel Corporate Finance Tel + 44 (0) 20 3470
LLP 0470
Nominated Adviser and Broker
------------------------------ ----------------------
Tim Blythe Blytheweigh Financial Tel: + 44(0) 20 7138
3224
------------------------------ ----------------------
Megan Ray Blytheweigh Financial Tel: + 44(0) 20 7138
3224
------------------------------ ----------------------
Notes:
Anglo Asian Mining plc (AIM:AAZ) is a gold, copper and silver
producer in Central Asia with a broad portfolio of production and
exploration assets in Azerbaijan. The Company has a 1,962 square
kilometre portfolio, assembled from analysis of historic Soviet
geological data and held under a Production Sharing Agreement
modelled on the Azeri oil industry.
The Company's main operating location is the Gedabek contract
area ("Gedabek") which is a 300 square kilometre area in the Lesser
Caucasus mountains in western Azerbaijan. The Company developed
Azerbaijan's first operating gold/copper/silver mine at Gedabek
which commenced gold production in May 2009. Mining at Gedabek was
initially from its main open pit which is an open cast mine with a
series of interconnected pits. The Company also operates the high
grade Gadir underground mine which is co-located at the Gedabek
site. The Company has a second underground mine, Gosha, which is 50
kilometres from Gedabek. Ore mined at Gosha is processed at Anglo
Asian's Gedabek plant.
The Company produced 81,399 gold equivalent ounces ("GEOs") for
the year ended 31 December 2019. Gedabek is a polymetallic ore
deposit that has gold together with significant concentrations of
copper in the main open pit mine, and an oxide gold-rich zone at
Ugur. The Company therefore employs a series of flexible processing
routes to optimise metal recoveries and efficiencies. The Company
produces gold doré through agitation and heap leaching operations,
copper concentrate from its Sulphidisation, Acidification,
Recycling, and Thickening (SART) plant and also a copper and
precious metal concentrate from its flotation plant.
The Company has a production target for the year to 31 December
2020 expressed as gold equivalent ounces ("GEOs") of between 68,000
GEOs and 72,000 GEOS.
Anglo Asian is also actively seeking to exploit its first mover
advantage in Azerbaijan to identify additional projects, as well as
looking for properties in other jurisdictions in order to fulfil
its expansion ambitions and become a mid-tier gold and copper metal
production company. It has recently announced that it will enter
into a joint venture with Conroy Gold and Natural resources PLC to
explore and develop various gold properties in The Republic of
Ireland and Northern Ireland.
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