In 2018, shares in Anglo Asian Mining Plc (LON:AAZ) almost doubled, and with a recent push up to 40p, that momentum looks set to carry on well into 2018, APA-Economics reports quoting foreign media.
There are several reasons for this price strength, but the central one is that Anglo Asian has been expanding operations at its three mines in Azerbaijan.
"We have been extremely busy on the ground in Azerbaijan in regards to exploration,” says chief executive Reza Vaziri.
“We recently reported increased production for quarter three of 2017 with the commencement of mining at Ugur. Having spent time in 2017 optimising the extraction of gold and gold-copper ores from the Gedabek open pit, we now look forward to recommencing mining to contribute to production in the first quarter of 2018 with the enhanced knowledge of the mineralisation that these exploration activities will provide. We are also increasing the capacity of our tailings dam to support the expansion."