Higher gold prices - Anglo Asian averaged $1,513/oz for the gold bullion it sold in Q3, versus the $1,319/oz it averaged across the first half of the year - boosted the company's net cash balance by $8.5 million during the period.

Gold-equivalent production was down year on year but up 3% quarter-on-quarter to 20,227oz gold-equivalent.

"We are delighted to report another successful quarter for the company with production increasing compared to the previous quarter and strong cash generation helped by the recent increase in the gold price," the company's CEO Reza Vaziri said in a statement.

"Production guidance is maintained at the lower end of 82,000 to 86,000 gold-equivalent ounces due to the decrease in copper price in relation to the increase in gold price since the start of 2019," Vaziri continued.

Anglo Asian has produced 60,122oz gold equivalent over the first three quarters of the year, down on the 61,761oz gold-equivalent it had produced at this point in 2018. Total production in 2018 stood at 83,736 oz gold equivalent, a record figure for the company.

SP Angel analyst John Meyer said in a note the numbers represented "another strong quarter" for Anglo Asian.

"With gold price continuing to be well supported by increased nervousness regarding the strength of future economic outlook and geopolitical tensions, Anglo Asian revenues continuing to be >85% exposed to the precious metal's prices and low operating costs status bodes all well for the Company's future free cash flow generation," said Meyer.