About us

Gold and copper mining

Gold and copper mining in a Production Sharing Agreement with oil-rich Azerbaijan to exploit the extensive 30 year exploration work carried out by the Soviets.

Resources

Classified inferred resources, at AIM listing, of 7.6m oz gold and 2.4m tonnes copper (15.6 m oz Au eq).

Low cost

Potential low stripping ratios and low labour and fuel costs suggest low operating costs.

AIM IPO

On 29th July 2005 the company was listed on AIM and raised £20 million before issue expenses.

Development plan

Completion of feasibility on Gedabek by the first quarter of 2007, and satisfaction from the heap leach amenability tests, could see construction in 2007 and production in 2008.

The exploration and evaluation programme will continue in the Gosha and Ordubad Contract Areas.