Update on Gedabek Gold Projec

RNS Number : 2037M

Anglo Asian Mining PLC

26 January 2009

 



For Immediate Release

26 January 2009

Anglo Asian Mining plc

Update on Gedabek Gold Project

• Processing plants expected to operational by the end of February 2009

• No significant cost overrun

• First gold pour anticipated by early April 2009

Anglo Asian Mining plc ('the Company') today provides an update on its Gedabek Gold Project ('Gedabek' or 'the Project') in Azerbaijan. 

Most of the construction work at Gedabek has now been completed. The run-of-mine pad has been constructed and has begun to be filled with material. The crusher underwent hot commissioning on 16 January 2009 but without the agglomeration drum and stacker in place due to a short delivery delay. These are now expected on site before the end of January. The lining of the leach pad has been completed and tested, the solution collection piping is in place and the associated ponds and earthworks are also on schedule for completion within the same timeframe.

The Adsorption, Desorption, Refinery (ADR) and Sulphidisation, Acidification, Recycling, and Thickening (SART) tanks were installed in late December and the construction of steel structures to complete the plants is also due to be finished by the end of January.  The installation of the remaining equipment, piping and electronics for the ADR and SART plants is expected to be completed by the middle of March.

Allowing for the two week period required for the installation of the agglomeration drum and stacker, first feed to the leach pad is scheduled for February, with the first gold pour anticipated by early April. 

Reza Vaziri, CEO of the Company, commented 

'We are very pleased to be able to announce that Gedabek is nearing completion, with gold production scheduled to begin in April.  Despite some minor weather-related delays in the spring of 2008, the project will be completed very close to the Company's schedule and essentially within budget.'

For further details, please contact: 

Anglo Asian Mining PLC
Reza Vaziri (acting CEO)	[phone]
Numis Securities Limited
John Harrison, Nominated Adviser	[phone]
James Black, Corporate Broker
Parkgreen Communications
Sue Scott/Leah Kramer	[phone]

 

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