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Highlights

  • Anglo Asian Mining’s H1 FY2025 revenue rose to USD 40.9 million, up 206% year-on-year.
  • Profit before tax turned positive at USD 7.1 million from a prior loss.
  • Demirli project started production, targeting 4,000 tonnes of copper in FY25.

Anglo Asian Mining PLC (LSE:AAZ), part of the FTSE AIM All-Share Index and based in the UK, is a holding company providing management services to R.V. Investment Group Services LLC (RVIG). Together with its subsidiaries, it explores and develops gold and copper assets in Azerbaijan, where it operates the flagship Gedabek mine.

In H1 FY2025, Anglo Asian Mining reported revenue of USD 40.9 million, compared with USD 13.4 million in H1 FY2024, an increase of 206.1%. The rise was supported by the continuous operation of processing facilities, higher gold bullion sales of 9,781 oz versus 6,000 oz a year earlier, and an improved average gold price of USD 3,077/oz. Profit before tax was USD 7.1 million, against a loss of USD 5.5 million in H1 FY2024, reflecting higher revenues and a gross profit of USD 13.8 million compared with a gross loss of USD 1.7 million last year. Profit attributable to equity holders was USD 4.7 million, compared with a loss of USD 4.1 million in H1 FY2024, supported by improved operations and margins despite a tax charge of USD 2.4 million, versus a tax benefit of USD 1.4 million in the prior period.

Business Update

On 10 September 2025, the company announced progress in its strategic growth pipeline alongside its H1 results. Exploration and development advanced at the Xarxar and Garadag projects, where resources now exceed one million tonnes of copper. These projects provide a medium-term growth pathway and improve visibility of future copper production beyond existing operations.

Outlook

The company plans to issue revised full-year guidance after assessing production from Demirli and the impact of higher-grade ore at Gilar, which requires flotation plant upgrades scheduled for completion by year-end. Following the period, Demirli commenced production in July 2025, with approximately 4,000 tonnes of copper concentrate expected in FY2025 and a ramp-up towards 15,000 tonnes annually from 2026.

Top 10 Shareholders

The top 10 shareholders of AAZ collectively hold approximately 47.71% of the company’s shares. Among them, Mohammad Reza Vaziri and Michael Charles Sununu are the largest individual stakeholders, with holdings of around 28.71% and 8.03%, respectively.

Stock Information

As of the closing price of 30 September 2025 (GBX 207.5), over the past three months, the stock has gained approximately 27.69%, and over the six-month period, 56.01%. The stock has a 52-week low of GBX 85.00 and a 52-week high of GBX 220.00 and is currently trading above the average of this range. 

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels Is 30 September 2025. The reference data in this report has been partly sourced from EODHD/Others.

Technical Indicators Defined

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