Anglo Asian Mining

Anglo Asian Mining shares rallied during Thursday trading on the back of a promising set of full-year results for 2018.

The AIM-listed mining company reported pre-tax profits of $25.2 million, up from US$5.7 million a year ago.

This was as a result of production proving to be at the upper range of the forecasts, at 83,736 gold equivalent ounces compared to expectations of between 78,000 to 84,000 GEOs.

Overall, total production for the full-year rose 17%, and on a year-on-year basis to 83,736 GEOs.

Gold production increased the most, up by 22%. Silver production also rose to 210,184 ounces, compared to 172,853 ounces recorded in 2017.

Conversely, copper production fell to 1,645, down from 1,991 the previous year.

The company recorded total annual sales of Gold bullion of 59,481 ounces, up from 43,496 ounces a year ago.

These were completed at an average of $1,265 per ounce, unchanged from 2017.

Meanwhile, the cost of gold production decreased in the lowest quartile to $541 per ounce during the period.

Anglo Asian Mining also announced a final dividend of $0.04 per share, resulting in a dividend of $0.07 per share for the year.

Shares in the London-listed firm are currently up 4.26% as of 13:13, as the market takes stock of the figures.