**Summary**
Anglo Asian Mining PLC, an AIM-listed gold, copper, and silver producer in Azerbaijan, announced its 2025 full-year results, highlighting a transformative year with significant achievements. The company brought two new mines, Gilar and Demirli, into production, aligning with its strategy to become a mid-tier, multi-asset producer. Total production reached 25,061 ounces of gold and 7,915 tonnes of copper, with revenues increasing to $122.8 million. The company returned to profitability, delivering a profit before taxation of $25.8 million, and reinstated a dividend of 4 US cents per share.
Operationally, Gilar, an underground copper and gold mine, commenced production in May, leveraging existing infrastructure, while Demirli, a large brownfield copper project, started in July and is performing as expected. The company also made progress in developing the Xarxar and Garadag copper projects and completed the final raise of the Gedabek tailings dam wall.
Financially, revenues increased significantly due to higher production and favorable commodity prices, leading to a positive net cash position of $2.6 million. The companys 2026 guidance remains unchanged, with expectations of becoming a primarily copper-producing company.
Looking ahead, 2026 is anticipated to be a milestone year, with the first full year of production from Gilar and Demirli, and the company remains confident in its medium-term growth strategy to become a copper-focused, multi-asset, mid-tier producer.
| Financial Metric | 2024 | 2025 | Change |
|---|---|---|---|
| Revenue ($ million) | 39.6 | 122.8 | +210% |
| Profit Before Taxation ($ million) | (21.3) | 25.8 | +221% |
| Net Cash Position ($ million) | (14.7) | 2.6 | +118% |
| Net Cash Flow from Operations ($ million) | 8.6 | 46.7 | +443% |
| Total Debt (including leases) ($ million) | 23.7 | 66.9 | +182% |
| Gearing Ratio (%) | 35.3 | 78.5 | +122% |