Anglo Asian Mining PLC, a gold, copper, and silver producer in Azerbaijan, has announced the resignation of Michael Sununu, Non-Executive Director, from the Board of Libero Copper & Gold Corporation. This decision comes as Anglo Asian's holding in Libero has decreased to 5.7%, falling below the 9.9% threshold required to maintain a Director on the Board. The reduction in Anglo Asian's holding is attributed to its non-participation in recent rounds of financing by Libero.
Anglo Asian Mining PLC aims to transition to a multi-asset, mid-tier copper and gold producer by 2028, with copper becoming the principal product. The company plans to achieve this growth by bringing four new mines into production during the period 2024 to 2028 at Zafar, Gilar, Xarxar, and Garadag. In 2023, the company produced 31,821 gold equivalent ounces and has outlined a strategic plan for future growth.
For further information, interested parties can contact Reza Vaziri, Chief Executive Officer, Bill Morgan, Chief Financial Officer, or Stephen Westhead, Vice President. The company's Nominated Adviser and Broker is SP Angel Corporate Finance LLP, and Hudson Sandler handles their Financial PR.
This update provides insight into Anglo Asian Mining PLC's strategic direction and recent developments regarding its investment in Libero Copper & Gold Corporation.