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On August 27, 2024, Anglo Asian Mining plc's subsidiary, Azerbaijan International Mining Company Limited (AIMC), received $3.7 million. These proceeds were under a Vendor Financing Facility Agreement with Caterpillar Financial Services Corporation.
| Date | 27 Aug 2024 |
| Time | 07:00:12 |
| Category | Miscellaneous |
| ID | 6893B |
27 August 2024
Anglo Asian Mining plc
Vendor Financing Facility with Caterpillar Financial Services Corporation
Receipt of proceeds of $3.7 million loan
Anglo Asian Mining plc ("Anglo Asian" or the "Company"), the AIM listed gold, copper and silver producer focused in Azerbaijan, is pleased to announce that its subsidiary, Azerbaijan International Mining Company Limited ("AIMC"), has received the proceeds of $3.7 million under a Vendor Financing Facility Agreement (the "Facility") with Caterpillar Financial Services Corporation ("Cat Financial").
Further details about the Facility are given in the Company's RNS of 8 May 2024:
https://polaris.brighterir.com/public/anglo_asian_mining/news/rns/story/xz8y3ox
Note that all references to "$" are to United States dollars.
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, which was incorporated into UK law by the European Union (Withdrawal) Act 2018, until the release of this announcement.
For further information please contact:
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Anglo Asian Mining plc |
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Reza Vaziri, Chief Executive Officer |
Tel: +994 12 596 3350 |
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Bill Morgan, Chief Financial Officer |
Tel: +994 502 910 400 |
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Stephen Westhead, Vice President |
Tel: +994 502 916 894 |
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SP Angel Corporate Finance LLP (Nominated Adviser and Broker) Ewan Leggat Adam Cowl |
Tel: +44 (0) 20 3470 0470 |
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Hudson Sandler (Financial PR) Charlie Jack Harry Griffiths
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Tel: +44 0) 20 7796 4133
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Notes to editors
Anglo Asian Mining plc (AIM:AAZ) is a gold, copper and silver producer with a high-quality portfolio of production and exploration assets in Azerbaijan. The Company produced 31,821 gold equivalent ounces ("GEOs") for the year ended 31 December 2023.
On 30 March 2023, the Company published its strategic plan for growth which shows a clearly defined path for the Company to transition to a multi-asset, mid-tier, copper and gold producer by 2028, by which time copper will be the principal product of the Company, with forecast production of around 36,000 copper equivalent tonnes. It plans to achieve this growth by bringing into production four new mines during the period 2024 to 2028 at Zafar, Gilar, Xarxar and Garadag.
https://www.angloasianmining.com/