Anglo Asian Mining (AAZ) AGM 2025 presentation summary

Strategic vision and growth objectives

• Targeting mid-tier status with a five-year goal to produce approximately 36,000 tonnes of copper annually through sequential mine openings and resource expansion.

• New Gilar mine began production in May 2025, with Xarxar and Garadag scheduled for 2027/28 and 2029/30, respectively.

• Demirli mine restart planned for H2 2025, potentially adding over 15,000 tonnes of copper per year.

• Exploration programs aim to upgrade resources to JORC standard and increase overall copper and gold reserves.

• Financing secured through local banks, with discussions underway with international institutions.

Operational highlights and asset base

• Operates eight contract areas in Azerbaijan, covering over 2,500 square kilometers, with both active production and exploration.

• Gilar mine ramping up to 50,000–60,000 tonnes of ore per month, with a JORC resource of 54,000 tonnes copper and 255,000 ounces gold.

• Demirli mine features a 6 Mtpa flotation plant and is being fast-tracked for production in H2 2025.

• Xarxar and Garadag deposits collectively host over 1 million tonnes of copper, with significant exploration upside.

• Company has a track record of bringing six mines into production and operates in the lowest-cost quartile.

Financial and operational progress

• Achieved a $1.0 million net positive cash inflow in Q1 2025.

• Production restarted at key plants and new mining equipment delivered to support ramp-up.

• 2025 guidance (excluding Demirli): 28,000–33,000 ounces gold and 6,500–6,800 tonnes copper.

• No significant shareholder dilution in funding new projects.

• Profitability and cash generation are being rebuilt following previous operational shutdowns.