Diskussion zu Signal Gold [Anaconda Gold] - Älteste Beiträge zuerst (Seite 3499)

[bigyawn]

Anaconda Mining loses $379,565 in fiscal Q1

2016-10-18 07:37 ET - News Release

Mr. Dustin Angelo reports

ANACONDA MINING SELLS 2,919 OUNCES AND GENERATES $1.3M OF EBITDA AT THE POINT ROUSSE PROJECT FOR Q1 FISCAL 2017

Anaconda Mining Inc. has released its financial and operating results for the three months ended Aug. 31, 2016. The Company sold 2,919 ounces of gold resulting in $4,919,737 in revenue at an average sales price of $1,685 (USD$1,299) per ounce. Cash cost per ounce sold at the Point Rousse Project for the three months ended August 31, 2016 was $1,244 (USD$959). The Company generated positive earnings before interest, taxes, depreciation and amortization and other non-cash expenses ("EBITDA") of $1,287,567 at the Point Rousse Project. Net loss for the three months ended August 31, 2016 was $379,565. As at August 31, 2015, the Company had cash and cash equivalents of $359,794 and net working capital of $500,744.

President and CEO, Dustin Angelo, stated, "There were several bright spots in a quarter where the Company did not achieve its desired gold production level, thus generating lacklustre financial results. From a long term perspective, Anaconda accomplished a few goals and set new milestones that will assist in positioning it for long term success. The Company succeeded in raising over $2 million in flow through equity financing for a 17,000-metre drill program and securing a $1.5M credit facility with The Royal Bank of Canada to allow for greater financial flexibility. On the operating side, the Pine Cove Mill finalized its mill automation project and reached new heights in mill throughput, averaging 1,220 tonnes per operating day during the month of August. We've experienced higher rates for the month of September, averaging 1,340 tonnes per operating day. We also expended significant resources on expanding our tailings capacity. In the short term, we have hit a few bumps in the road, but we continue to build a strong foundation for the future. With that being said, we are continuing to make adjustments to improve gold production and expect key drivers like grade, strip ratio and mining costs to improve over the remaining three quarters of the fiscal year."

Highlights for the three months ended August 31, 2016

As at August 31, 2016, the Company had cash and cash equivalents of $359,794 and net working capital of $500,744. The Company sold 2,919 ounces of gold and generated $4,919,737 in revenue at an average sales price of $1,685 (USD$1,299) per ounce. Cash cost per ounce sold at the Point Rousse Project was $1,244 (USD$959) (see Reconciliation of Non-GAAP Financial Measures); trailing 8 quarter average was $1,100 (USD$830) (See Unit cost analysis). All-in sustaining cash cost ("AISC") per ounce sold (see Reconciliation of Non-GAAP Financial Measures), including sustaining capital expenditures, the addition of production stripping assets and certain exploration and evaluation expenses was $2,408 (USD$1,856); trailing 8 quarter average was $1,616 (USD$1,219) (See Unit cost analysis). The Pine Cove Mill processed 99,441 tonnes of ore at an average rate of 1,130 tonnes per operating day. Mill availability, recovery and head grade were 96%, 86% and 1.17 g/t respectively. Mining operations at the Pine Cove pit produced 108,305 tonnes of ore and 890,120 tonnes of waste. EBITDA (see Reconciliation of Non-GAAP Financial Measures) at the Point Rousse Project and on a consolidated basis were $1,287,567 and $555,018 respectively. Net loss was $379,565. Purchase of property, mill and equipment was $795,402. Key items included tailings facility and polishing pond construction of $696,000. Production stripping assets include additions of $1,283,856. The Company completed a $2,037,265 flow-through equity financing to fund a 17,000-metre diamond drilling campaign at the Point Rousse and Viking Projects which will focus on near-surface resource expansion as well as targeting relatively higher-grade mineral resources at four main areas - Stog'er Tight, Argyle, Goldenville and Viking. Exploration expenditures totaled $759,850 and were spent on activities such as drilling, trenching, mapping and mineral resource estimates for the three months ended August 31, 2016. The Company completed a Line of Credit Agreement with the Royal Bank of Canada ("RBC") for a $1,000,000 revolving credit facility as well as a $500,000 revolving equipment lease line of credit.

Highlights subsequent to the three months ended August 31, 2016

On September 8, 2016, the Company announced that it had completed its $1.025 million mill automation project (the "Automation Project") at the Pine Cove Mill, which began in September 2015. During the implementation of the Automation Project, Anaconda applied for and received $1.0M of financing (the "Financing") through two government programs; the Atlantic Canada Opportunities Agency ("ACOA") and the Department of Business, Tourism, Culture and Rural Development ("DBTCRD").

The Company obtained the Financing to fund specifically the Automation Project. The ACOA loan of $500,000 is non-interest bearing and will be repayable in 60 equal installments commencing October 1, 2016. Per the terms of the ACOA loan agreement, the funds were received as reimbursement of paid qualifying expenditures, which occurred during the implementation of the Automation Project. The DBTCRD funding consists of a $100,000 grant (non-repayable) and a $400,000 loan, having an interest rate of 3%, which will be repayable in 60 monthly payments of $7,187 commencing November 30, 2016. The DBTCRD funding was received on September 6, 2016.

Operations overview

Net loss for the three months ended August 31, 2016 was $379,565 (loss for the three months ended August 31, 2015 was $184,919). The Company generated a gross margin of $363,615 for the three months ended August 31, 2016 ($409,000 for the three months ended August 31, 2015). Earnings over the comparative periods were negatively impacted as a result of lower gold sales of $866,064 and higher milling costs of $70,029. This was largely offset by lower mining costs of $790,333 and depletion and depreciation expense of $129,476. The Company generated positive EBITDA of $555,018 for the three months ended August 31, 2016 ($939,977 for the three months ended August 31, 2015). Cash flow from operations for the three months ended August 31, 2016 was $36,681. Cash of approximately $1.6 million was used in exploration activities and capital expenditures.

During the first quarter of fiscal 2017, the Company's operations were severely impacted by low grade as well as increased mining activities to meet the demand to place waste rock for the construction of the first phase of the second tailings storage facility. The mining department exceeded its operating budget in the first fiscal quarter and expects to complete construction of the tailings facility in the second quarter of fiscal 2017. The Company projects a reduction in mining costs for the remainder of the fiscal year, driven by lower tonnes mined as well as a reduced strip ratio. Grade is expected to increase in the second half of the fiscal year based on the mine plan. To offset the reduced grade currently being mined, the Pine Cove Mill has significantly increased throughput per operating day. The mill averaged 1,220 tonnes per operating day in August, 90 tonnes per operating day more than the quarterly average. Heading into the second quarter, the Company experienced even better results in the mill, achieving 1,340 tonnes per operating day in September.

Unit cost analysis

During the quarter ended August 31, 2016, cash cost per ounce of $1,244 and was largely the result of the Company's low sales volume of 2,919 ounces. Aggregate costs were in line with historical levels for the past eight quarters, if not slightly lower. Sales volume was below 3,000 ounces primarily because of grade, which registered 1.17 g/t for the Quarter. Based on the tonnes processed and mill recovery for the Quarter, if the head grade were approximately 0.1 g/t higher, the Company would have generated an additional 400 ounces of production resulting in sales of approximately 3,300 ounces and a cash cost per ounce of approximately $1,100, similar to the historical average over the past 8 quarters.

AISC per ounce of $2,408 was not only impacted by low sales volume, but also by the high strip ratio of 8.2 : 1 for the Quarter. During the first quarter of fiscal 2017, the Company incurred $1,283,856 in expenditures that were capitalized to the balance sheet under production stripping assets, which captures mining costs incurred for the portion of the strip ratio that is greater than the life of mine strip ratio. For the last three quarters (including the current period), the Company has been challenged by a high strip ratio relative to the life of mine average. The incremental mining costs of approximately $2,750,000 (or $265 per ounce) to remove additional waste is captured in production stripping assets. Nearly half of that expense was incurred in the first quarter of fiscal 2017 at a cost of approximately $440 per ounce. Over a longer term horizon, the average quarterly AISC per ounce for the trailing eight quarters has been $1,616.

For the remainder of fiscal 2017, the Company expects to see an improvement in AISC per ounce. Most of the improvement is expected in the second half of the fiscal year. Ore grade is projected to increase 15% to 20% from current levels and the strip ratio is expected to be 3.0 : 1 from January through May 2017. Also, phase one construction of the second tailings storage facility will be completed in the second quarter ended November 2016, which will help slow the rate of mining in the second half of the fiscal year. Lastly, exploration expenditures are expected to be lower in the third and fourth quarters of fiscal 2017 as the Company's 17,000-metre diamond drilling program will largely be completed by the end of the second quarter. Consequently, the Company expects cash cost per ounce to return to historical levels around $1,100 per ounce and AISC per ounce to average approximately $1,520 for the remaining three quarters of fiscal 2017.

MILLING OPERATIONS

The following table summarizes the key mill operating metrics for the three months ended August 31, 2016 and 2015:

OPERATING STATISTICS: For the three months ended
August 31 2016August 31 2015
Mill
Operating days 88 86
Availability 96% 94%
Dry tonnes processed 99,441 96,532
Tonnes per 24-hour period 1,130 1,122
Grade (grams per tonne) 1.17 1.62
Overall mill recovery 86% 87%
Gold sales volume (troy oz.) 2,919 3,956




The Pine Cove mill operated for 88 days during the first quarter of fiscal 2017 at an availability rate of 96%, a 2% increase above the availability in the first quarter of fiscal 2016. The mill achieved an average run rate of 1,130 tonnes per operating day and processed 99,441 dry tonnes of ore during the quarter compared to 1,122 tonnes per operating day and 96,532 dry tonnes of ore in the first quarter of fiscal 2016. The mill was able to increase throughput per operating day each month throughout the first quarter of fiscal 2017. The Pine Cove Mill achieved an average of over 1,220 tonnes per operating day in August 2016. A focus on crushing and grinding metrics, aided by the recently completed mill automation project has been the main reason for the increased throughput. This improvement has continued into the second quarter with September achieving an average run rate of 1,343 tonnes per operating day. Average feed grade during the quarter was 1.17 g/t, down from 1.62 g/t in the first quarter of fiscal 2016. The Company budgeted a decline in grade during the first half of fiscal 2017 and is projecting an improvement to the Pine Cove grade during the second half of the fiscal year. Overall mill recovery was 86%, compared to 87% in first quarter fiscal 2016.

MINING OPERATIONS

The following table summarizes the key mining operating metrics for the three months ended August 31, 2016 and 2015:

OPERATING STATISTICS: For the three months ended
August 31 2016August 31 2015
Mine - Pine Cove Pit
Operating days 83 78
Ore production (tonnes) 108,305 104,278
Waste production (tonnes)890,120 642,828
Total production (tonnes)998,425 747,106
Waste: Ore ratio 8.2 6.2




The mining operation at the Point Rousse Project operated for 83 days in the first quarter in the Pine Cove Pit. Total production was 108,305 tonnes of ore and 890,120 tonnes of waste. Total tonnes mined at the Pine Cove Pit were 34% higher compared to the first quarter of fiscal 2016 due to a higher strip ratio and the need for waste rock to construct the first phase of tailings storage facility II. The high strip ratio also resulted in the capitalization of $1,283,856 in mining costs to production stripping assets. The Company is forecasting a reduction of total tonnes mined to approximately 250,000 per month from September through December at an average strip ratio of approximately 5.6:1, waste to ore. From January through May, total tonnes mined are expected to reduce further to approximately 170,000 tonnes per month at an average strip ratio of 3.3:1, waste to ore.

Reconciliation of Non-GAAP financial measures

The Company has included certain non-GAAP financial measures in this document. These measures are not defined under IFRS and should not be considered in isolation. The Company believes that these measures, together with measures determined in accordance with IFRS, provide investors with an improved ability to evaluate the underlying performance of the Company. The inclusion of these measures is meant to provide additional information and should not be used as a substitute for performance measures prepared in accordance with IFRS. These measures are not necessarily standard and therefore may not be comparable to other issuers.

Adjusted net earnings measure the performance of the Company, excluding certain impacts which the Company believes are not reflective of the Company's underlying performance for the reporting period, such as the impact of foreign exchange gains and losses, impairment charges, and non-hedge derivative gains and losses. Although some of the items are recurring, the Company believes that they are not reflective of the underlying operating performance of its current business and are not necessarily indicative of future operating results.

The following table provides a reconciliation of adjusted net earnings for the three months ended August 31, 2016 and 2015:

For the three months ended
August 31 August 31
2016 2015
$ $
Net loss (379,565) (184,919)

Adjusting items:
Foreign exchange (gain) loss (9) 2,851
Unrealized (gain) loss on forward sales contract derivative(25,790) 2,808
Write down of Chilean assets - -
Reclamation expense 10,531 5,042
Total adjustments (15,268) 10,701
Adjusted net loss (394,833) (174,218)




Cash cost per ounce sold is cost of sales from the period before depreciation divided by the number of ounces of gold sold in the period. AISC per ounce includes total cash costs plus the sum of corporate administrative expenses, sustaining capital expenditures, the addition of production stripping assets and certain exploration and evaluation expenses, all divided by the number of ounces sold in the period. This measure seeks to reflect the full cost to sustain the current level of gold production from the Company's operations. Certain other cash expenditures, including income tax payments and financing costs are not included. Certain prior period amounts included in the calculation of AISC have been changed to conform to the presentation adopted in the current period.

The following table provides a reconciliation of cash cost per ounce sold and all-in sustaining cash cost per ounce sold for the three months ended August 31, 2016 and 2015:

For the three months ended
August 31 August 31
2016 2015
Cost of sales 4,556,122 5,376,801
Less: Depletion and depreciation (923,952) (1,053,428)
Cash operating cost 3,632,170 4,323,373
Corporate administration 655,944 497,144
Purchase of property, mill and equipment 699,370 651,267
Purchase of exploration and evaluation assets757,070 322,190
Additions to production stripping assets 1,283,856 414,397
All-in cash cost 7,028,411 6,208,370

Gold ounces sold 2,919 3,956
Cash cost per ounce sold 1,244 1,093
All-in sustaining cash cost per ounce sold 2,408 1,569

(in USD$)
Cash cost per ounce sold 959 856
All-in sustaining cash cost per ounce sold 1,856 1,229




EBITDA is earnings before finance expense, foreign exchange loss (gain), unrealized gain on forward sales contract derivative, share-based compensation, income tax recovery and depreciation and depletion. Point Rousse Project EBITDA is EBITDA before corporate administration, other revenues and expenses and write down of Chilean assets.

The following table provides a reconciliation of EBITDA for the three months ended August 31, 2016 and 2015:

For the three months ended
August 31 August 31
2016 2015
$ $
Net loss (379,565) (184,919)

Adjustments:
Finance expense 50,214 -
Foreign exchange (gain) loss (9) 2,851
Unrealized (gain) loss on forward sales contract derivative(25,790) 2,808
Share-based compensation 69,977 80,809
Deferred income tax recovery (34,000) (15,000)
Depletion and depreciation 923,952 1,053,428
EBITDA 604,779 939,977
Corporate administration 655,944 497,144
Other expenses 26,844 25,307
Point Rousse Project EBITDA 1,287,567 1,462,428




ABOUT ANACONDA

Anaconda Mining is a growth-oriented, gold mining and exploration company with a producing project called the Point Rousse Project and an exploration/development project called the Viking Project in Newfoundland.

The Point Rousse Project is approximately 6,300 hectares of property on the Ming's Bight Peninsula located in the Baie Verte Mining District in Newfoundland, Canada. Since 2012, Anaconda has increased its property control by ten-fold on the peninsula and gold production to approximately 16,000 ounces per year. In an effort to expand production, it is currently exploring three primary, prospective gold trends, which have approximately 20 kilometres of cumulative strike length and include five deposits and numerous prospects and showings, all within 8 kilometres of the Pine Cove Mill.

Anaconda also controls the Viking Project, which has approximately 6,225 hectares of property in White Bay, Newfoundland, approximately 100 kilometres by water (180 kilometres via road) from the Pine Cove Mill. The project contains the Thor Deposit and other gold prospects and showings. The Company's plan is to discover and develop more resources within these project areas and substantially increase annual production at the Pine Cove Mill from its current rate of approximately 16,000 ounces.

As the only pure play gold producer in Atlantic Canada, Anaconda Mining is turning the rock we live on into a growing and profitable resource. With a young and motivated workforce, innovative technology and the support of local suppliers, Anaconda is investing in the people of Newfoundland & Labrador and giving back to the communities in which we operate - building a better future for all our stakeholders, from the ground up.

We seek Safe Harbor.

© 2016 Canjex Publishing Ltd. All rights reserved.

[IQ4U]

Interessante Strategien!

Er erklärt gut weshalb man mindestens 25% Gold, Silber oder Platin im Depot haben sollte und was aus seiner Sicht mit dem Goldpreis passieren wird.

An dieser Entwicklung hängt auf Gedeih und Verderb auch der Aktienkurs von Anaconda Mining.

[bigyawn]

Anaconda drills 8.8 m of 1.28 g/t Au at Point Rousse

2016-10-27 07:38 ET - News Release

Mr. Dustin Angelo reports

ANACONDA MINING INTERSECTS 1.28 G/T GOLD OVER 8.8 METRES AND 3.81 G/T OVER 3.0 METRES WITHIN A NEW ZONE ALONG STRIKE FROM STOG'ER TIGHT

Anaconda Mining Inc. has released the results of a recently completed 19-hole, 1,347-metre diamond drilling program near the Stog'er Tight deposit and approximately 3.5 kilometres from the Pine Cove mill, focused along a southwestern strike of 850 metres and a width of 300 metres, within the Point Rousse project. The results of the Phase 1 Drill Program indicate that key targets of mineralization exist near surface at three areas to the west and southwest of the Stog'er Tight deposit - the 278 Zone, the West Zone and the Massive Sulfide Zone. The Company also identified two new, prospective areas referred to as the Corkscrew Road and Mine Road zones that contain future drill targets.

Dustin Angelo, CEO of Anaconda, states, "The goal of the Phase 1 Drilling Program was to test certain targets in the Stog'er Tight Extension Area to determine if mineralization exposed at surface extends to depth. We were successful in extending the strike length and dip extent at the West Zone and discovering a new zone called the 278 Zone. The Massive Sulfide Zone is also intriguing as it has led to a potentially larger target in the Corkscrew Road zone. The Stog'er Tight project as a whole continues to grow, albeit at a slower pace than expected. We are encouraged by the prospectivity of these zones and targets to increase resources and will incorporate them in our future exploration plans."

The 278 Zone

The 278 Zone (formerly known as the Gabbro West Extension) refers to a zone of near surface, Stog'er Tight style mineralization located between approximately 280 and 550 metres west-southwest of the Stog'er Tight deposit (Exhibit B). Anaconda designed eight drill holes to test mineralization at surface that was previously identified through historical prospecting, geological mapping and limited diamond drilling. Of the eight drill holes, six intersected mineralization and alteration. The diamond drill results demonstrated that the 278 Zone extends at least 180 metres along strike (between holes BN-16-278 and BN-16-279) and 80 metres down dip from surface. The zone remains open to the southwest and further drilling between widely spaced holes is warranted at shallow depths. Highlights of the Phase 1 Drilling Program testing the 278 Zone are shown below:


Hole ID From (m)To (m)Interval (m)Gold g/t
BN-16-27629.0 33.0 4.0 1.13
BN-16-27821.0 29.8 8.8 1.28
BN-16-27949.9 52.9 3.0 3.81




The West Zone

The West Zone (Exhibit C), which has been previously drilled (see press release of June 2, 2016) is adjacent to the Stog'er Tight deposit and is thought to be the faulted offset and western extension of the deposit. Prior to the Phase 1 Drilling Program, the strike length and the dip extent of the West Zone (including the Gabbro zone as reported on June 2, 2016) were approximately 100 metres and 130 metres, respectively. During the Phase 1 Drilling Program, Anaconda tested the extents of the West Zone with 8 diamond drill holes (BN-16-265 to BN-16-272), of which five holes intersected mineralization and alteration. The results of the program indicate that the mineralization within the West Zone extend farther westward at least 50 metres along strike and at least 40 metres down dip to the north. The West Zone now has a dip extent of approximately 150 metres and a strike extent of approximately 150 metres and is generally within 50 metres of surface. Between the West Zone and the Stog'er Tight deposit, the combined strike length is approximately 550 metres. Highlights from Phase 1 Drilling Program for the West Zone are shown in the table below:


Hole ID From (m)To (m)Interval (m)Gold (g/t)
BN-16-265 28.7 33.0 4.3 1.20
BN-16-266 27.6 31.8 4.2 1.61
BN-16-269*47.7 49.5 1.8 3.93

*Hole BN-16-269: Mineralization discovered in the
bottom portion of the drill hole is hosted by the Stog'er Tight gabbro.





The Massive Sulfide, Corkscrew Road and the Mine Road Zones

The Massive Sulfide Zone (Exhibit C) is located in the Stog'er Tight Extension Area approximately 250 metres west of the Stog'er Tight deposit and is characterized by the presence of an iron formation, which is different than the typical gabbro hosted mineralization seen in other parts of Stog'er Tight Extension Area. Anaconda tested the extent of the Massive Sulfide Zone with three diamond drill holes (BN-16-269 (top portion), -273, -277). The three holes, plus a fourth historic hole (BN-88-08) drilled in the area, intersected the iron formation with associated sulfides containing widths of 2.0 to 3.4 metres over a strike length of 150 metres near surface. Hole BN-88-08 intersected mineralization of 3.10 g/t over 1.0 metre and hole BN-16-273 intersected mineralization of 2.10 g/t over 1.3 metres.

More significantly, an iron formation trends northwestwardly, for approximately a kilometre, away from the Stog'er Tight Extension Area (Exhibit D). Anaconda believes the iron formation trend, referred to as the Corkscrew Road Zone, may be the northwesterly continuation of the Massive Sulfide Zone. Based on historical data the Corkscrew Road Zone is also host to a convergence of anomalous gold-in-soil anomalies and a series of chargeability anomalies. Coincident gold-in-soil and chargeability anomalies such as these are also characteristics of both the Pine Cove and Stog'er Tight deposits. The Corkscrew Road Zone has not been previously drilled. Anaconda expects to include it in its future exploration plans.

In addition, Anaconda has other prospective drill targets adjacent to the Stog'er Tight deposit in an area referred to as the Mine Road Zone (Exhibit D). It is characterized by the easterly continuation of a Stog'er Tight gabbro, which is coincident with a string of ground IP - chargeability anomalies. The Mine Road Zone has not previously been explored by drilling and Anaconda expects to include it in its future exploration plans as well.

A table showing all significant drill intersections from the overall Phase 1 Drilling Program are given below:


Hole ID From (m)To (m)Interval (m)Au g/t
BN-16-26528.7 33.0 4.3 1.20
BN-16-26627.6 31.8 4.2 1.61
BN-16-2684.9 6.0 1.1 0.78
BN-16-26931.0 32.0 1.0 0.89
and 47.7 49.5 1.8 3.93
and 53.5 54.5 1.0 1.00
BN-16-27116.0 16.8 0.8 0.50
BN-16-27353.0 54.3 1.3 2.10
BN-16-27526.0 30.0 4.0 0.56
BN-16-27629.0 33.0 4.0 1.13
BN-16-27821.0 29.8 8.8 1.28
including25.0 29.8 4.8 1.82
including25.0 26.0 1.0 5.91
BN-16-27949.9 52.9 3.0 3.81
BN-16-28127.7 30.0 2.3 1.46




Table 1. A table of significant drill intercepts encountered during the Phase 1 Drilling Program at Stog'er Tight. Holes BN-16-267, BN-16-270, BN-16-272, BN-16-272, BN-16-274, BN-16-277,BN-16-280 and BN-16-282 did not intersect significant mineralization.

Overview of the Stog'er Tight Deposit

The Stog'er Tight Deposit is located 3.5 km from the Pine Cove mill along the existing mine road. The Deposit contains a 43-101-compliant resource, including an Indicated Resource of 204,100 tonnes with a grade of 3.59 g/t Au (23,540 oz Au) and an Inferred Resource of 252,000 tonnes with a grade of 3.27 g/t Au (26,460 oz Au) using a cut-off grade of 0.8 g/t Au (see Company's news release dated October 22, 2015). The Deposit is characterized by intense carbonate, albite, and pyrite alteration of gabbroic rocks with gold, strongly associated with pyrite, which is like the Pine Cove Deposit. The geological characteristics of Stog'er Tight are found in a much larger area around the Deposit that is approximately 1.5 km long by 0.5 km wide.

This news release has been reviewed and approved by Paul McNeill, P. Geo., VP Exploration with Anaconda Mining Inc., a "Qualified Person", under National Instrument 43-101 Standard for Disclosure for Mineral Projects.

All quoted drill intervals are not necessarily true widths and are estimated to be 70 to 100% of true thickness.

All samples are collected using QA/QC protocols including the regular insertion of duplicates, standards and blanks within the sample batch for analysis. All samples quoted in this release are analyzed at Eastern Analytical Ltd. in Springdale, NL, for Au by fire assay (30g) with an AA finish.

ABOUT ANACONDA MINING

The Point Rousse Project is approximately 6,300 hectares of property on the Ming's Bight Peninsula located in the Baie Verte Mining District in Newfoundland, Canada. Since 2012, Anaconda has increased its property control by ten-fold on the peninsula and gold production to approximately 16,000 ounces per year. In an effort to expand production, it is currently exploring three primary, prospective gold trends, which have approximately 20 kilometres of cumulative strike length and include five deposits and numerous prospects and showings, all within 8 kilometres of the Pine Cove Mill.

Anaconda also controls the Viking Project, which has approximately 6,225 hectares of property in White Bay, Newfoundland, approximately 100 kilometres by water (180 kilometres via road) from the Pine Cove Mill. The project contains the Thor Deposit and other gold prospects and showings. The Company's plan is to discover and develop more resources within these project areas and substantially increase annual production at the Pine Cove Mill from its current rate of approximately 16,000 ounces.

We seek Safe Harbor.

© 2016 Canjex Publishing Ltd. All rights reserved.

[bigyawn]

Anaconda Mining, SLA sign aggregate royalty agreement

2016-10-27 09:54 ET - News Release

Mr. Dustin Angelo reports

ANACONDA MINING ENTERS INTO AN AGGREGATES ROYALTY AGREEMENT; MONETIZES WASTE ROCK

Anaconda Mining Inc. has entered into an aggregate royalty agreement with Shore Line Aggregates (SLA), a subsidiary of the company's local contract miner, Guy J. Bailey Ltd., where Anaconda has granted a right to SLA to mine, crush and ship an aggregate product made from Anaconda's surplus stockpiled rock and in situ rock from the Pine Cove pit at the Point Rousse project in exchange for a production royalty worth approximately $2-million. SLA is working with a dry bulk ship owner/operator, Phoenix Bulk Carriers (BVI) Ltd. ("Phoenix"), a subsidiary of Pangaea Logistics Solutions Ltd., to fulfill a 3,500,000-tonne aggregates contract (the "Aggregates Venture") for a project located on the eastern seaboard of the United States. SLA and Phoenix began shipping the aggregates product at the end of September and expect it will take up to approximately 14 months to fulfill the contract. All dollar amounts are in Canadian dollars unless otherwise noted.

President and CEO, Dustin Angelo, states, "This Aggregates Venture is a tremendous opportunity for Anaconda, Guy J. Bailey, the local communities and the Baie Verte region as a whole. The additional economic development and jobs that come from this project will be a boon for the local economy. For Anaconda, we have an opportunity to generate additional revenue through a royalty and strengthen the infrastructure already established at the Point Rousse Project. In addition to a well performing gold mill, plenty of tailings capacity and mineral resources, we now have infrastructure in place that allows us to export waste rock and, with modifications, import ore to the benefit of the project."

Owner of Guy J. Bailey Ltd., Scott Bailey, states, "We have made a significant investment in this project and it demonstrates our commitment to helping boost the economy of the Baie Verte region. We're proud to be able to bring more employment to the area and we look forward to developing a longstanding venture with our partners."

Vice President of Phoenix Bulk Carriers, Peter Koken, states, "We are proud to be a part of this venture and to have the opportunity to work with a group of highly motivated professionals. The port facility at the Point Rousse Project has the potential to generate a substantial long term benefit to the project and the community. Its location is ideal to effectively penetrate the seaborne aggregates market, particularly along the East and Gulf Coasts of the United States."

To be able to crush and load the aggregates product, SLA purchased the requisite crushing equipment and developed the production site just west of the Pine Cove pit on the shore of the Baie Verte Harbour. The dock facility consists of two causeways with cribbing at the end of them. A temporary, floating barge, approximately 100 feet wide by 400 feet long, serves as a platform for loading the aggregates onto ocean-going transport vessels.

Anaconda has received permits and/or approvals to construct facilities and operate the Aggregates Venture from the Newfoundland and Labrador Department of Natural Resources, the Newfoundland and Labrador Department of Environment and Conservation, the Federal Department of Fisheries and Oceans and Transport Canada. The Company is also presently working with the Canadian Environmental Assessment Agency ("CEAA") as part of CEAA's routine compliance assessment procedures. Anaconda has submitted a project description and expects a response from CEAA by the middle of December.

Opportunity:

The Royalty Agreement will generate approximately $2,000,000 of ancillary revenue for the Company over the next 14 months and turn a cost centre into a revenue centre. Under typical open pit mining operations at the Pine Cove pit, Anaconda has to remove and dispose of waste rock to extract the gold bearing ore. Consequently, the Company has to create waste dump areas to stockpile the waste rock. With the Aggregates Venture, the waste rock now becomes an innovative and environmentally friendly commercial product that can be shipped off site and generate revenue.

In addition, Anaconda is not required to provide any capital for the development or operation of the Aggregates Venture, but will own any improvements made to the site and any fixed, permanent infrastructure associated with the dock facility. Equally important, because of the logistics involved in the production of the aggregates product, Anaconda's haul distance for its gold mining operation will be reduced, thus lowering mining costs.

The quality of rock and location of the Point Rousse Project present a unique opportunity for Anaconda. Material testing confirms that the rock is suitable for general aggregates purposes with acceptable LA Abrasion values, good absorption and soundness qualities. With water export access, this product is competitive in the seaborne aggregates market, resulting in an additional revenue stream for the Company and diversifying the Baie Verte area economy. Furthermore, the deposit at Pine Cove is located approximately 500 metres from the shore of the Baie Verte Harbour.

Economic and Environmental Impact:

The Aggregates Venture is anticipated to create approximately 40 shore side positions, particularly related to crushing and material handling, employed by SLA. In addition, it is anticipated that sea-side crews to staff two tugs will be required, in addition to other services required for vessel docking. There will also be a positive economic impact for local and regional vendors who are expected to supply goods and services to the Aggregates Venture as part of normal operations.

The shipment of aggregates for the Aggregates Venture will reduce the need for waste rock disposal on site and will decrease the overall environmental footprint of the Point Rousse Project.

ABOUT ANACONDA MINING

Anaconda Mining is a growth-oriented, gold mining and exploration company with a producing project called the Point Rousse Project and an exploration/development project called the Viking Project in Newfoundland.

The Point Rousse Project is approximately 6,300 hectares of property on the Ming's Bight Peninsula located in the Baie Verte Mining District in Newfoundland, Canada. Since 2012, Anaconda has increased its property control by ten-fold on the peninsula and gold production to nearly 16,000 ounces per year. In an effort to expand production, it is currently exploring three primary, prospective gold trends, which have approximately 20 km of cumulative strike length and include five deposits and numerous prospects and showings, all within 8 km of the Pine Cove mill.

Anaconda also controls the Viking Project, which has approximately 6,225 hectares of property in White Bay, Newfoundland, approximately 100 km by water (180 km via road) from the Pine Cove mill. The project contains the Thor Deposit and other gold prospects and showings. The company's plan is to discover and develop more resources within these project areas and substantially increase annual production at the Pine Cove Mill from its current rate of nearly 16,000 ounces.

As the only pure play gold producer in Atlantic Canada, Anaconda Mining is turning the rock we live on into a growing and profitable resource. With a young and motivated workforce, innovative technology and the support of local suppliers, Anaconda is investing in the people of Newfoundland & Labrador and giving back to the communities in which we operate - building a better future for all our stakeholders, from the ground up.

We seek Safe Harbor.

© 2016 Canjex Publishing Ltd. All rights reserved.

[IQ4U]

Antwort auf Beitrag Nr.: 53.567.907 von bigyawn am 27.10.16 18:25:44

Also mal ganz ehrlich, ich hatte zwar Englisch LK aber wenn ich das richtig verstehe, dann wird zusätzliches Erz von Point Rousse zur Mühle transportiert und Abfall wiederverwertet. dies spart dann Entsorgungskosten und verschafft zusätzlich Einnahmen in Höhe von 2 Mio. Dollar, richtig?

[harry_limes]

Die shares von Anaconda haben wohl die traurigste Performance aller Goldproduzenten weltweit. Leider ist diese schlechte Wertentwicklung derzeit berechtigt. Da meldet Anaconda ein "Royalty Agreement" und vermittelt auf mich den Eindruck dass sie jetzt in die Geröllverarbeitung einsteigen, da in dem verarbeiteten Gestein kaum noch Gold zu finden ist.

Im 1. Quartal 2017 (Juli-September) lag der Goldpreis fast kontinuierlich bei 1320US$ oder höher. Was meldet Anaconda;
- Anaconda rühmt sich wieder mit einem positiven EBITDA aber netto gibt es Verluste.
- Der erzielte Goldpreis liegt unter 1300US$
- Die Pine Cove Mill ist ausgelastet (mehr verarbeitete Tonnen als 2016)
- Es wurden nur 2.919 oz Gold verkauft / 1.Q 2016 waren es noch 3.956 oz

Im aktuellen Fact-Sheet aus Oktober wird wieder von einer Steigerung der Goldproduktion von 16.000oz auf 30.000oz fabuliert. Für 2017 wird Anaconda sehr froh sein die 16.000oz aus 2016 zu erreichen. Es gibt auch keine richtige Erklärung wie man die 30.000oz realistisch erreichen kann. Vom langfristigen Ziel der 100.000oz Jahresproduktion rede ich lieber gar nicht. Die Verarbeitungsanlage arbeitet jedenfalls fast am Anschlag. Was ist aus dem "Blending" geworden?
Bei der geringen Goldproduktion sind die AISC-costs einfach zu hoch

FactSheet:
http://anacondamining.com/FactSheet.pdf

Nicht falsch verstehen - ich habe viele Sympathien für Dustin Angelo und Anaconda als wichtigen und guten Arbeitgeber in Neufundland.

Einige Goldminer waren vor 10-16 Monaten fast am Ende und wollten teilweise die Produktion komplett stilllegen und machen jetzt mit angepassten Minenplänen und höherem Goldpreis wieder gute bis sehr gute Gewinne (netto nicht EBITDA). Es gibt viele Beispiele - ich nenne mal Timmins.

Aber es gibt auch Steigerungen - es gibt mehr shares! Und es wird exploriert!

Anaconda ist im Moment jedenfalls der "Waste-Rocker" unter den Goldminern.

Hoffentlich wird in 1 bis 2 Jahren aus dem "Waste-Rocker" eine ernstzunehmender "Gold-Rocker"

Good luck und meine Bewertung nicht zu ernst nehmen.

Harry

[IQ4U]

Antwort auf Beitrag Nr.: 53.631.957 von harry_limes am 06.11.16 18:54:52

Danke für Deine gute Schilderung!

Meines Erachtens hängt der wirtschaftliche Erfolg bei Anaconda in Zukunft von zwei wesentlichen Faktoren ab. Erstens vom Goldpreis auf den das Management keinen Einfluss hat und zum zweiten auf die Projektarbeit auf den es sehr wohl Einfluss hat und diesen ja gestaltet.

Somit bin ich auch brennend daran interessiert wie in nächster Zukunft die Jährliche Goldproduktion von 16.000 Unzen auf 30.000 Unzen fast verdoppelt werden soll und wie in Folge die 100.000 Unzen erreicht werden sollen.

Dies ist mir auch noch nicht zu 100% klar!

Nichtsdestotrotz werde ich, wenn es die Tage zulassen versuchen meine 2 Mio. Anteile voll zu machen, da ich aus bestehenden Fonds z.B. aus DAX-Werten Geld umschichten möchte in Anaconda Mining, Wealth Minerals und in meine Immobilien.

Nun wünsche ich uns allen eine erfolgreiche Zukunft mit unserer Goldmine...

[harry_limes]

Auszeichnung für Anaconda "Miner of the Year" in Newfoundland by CIM

Auszeichnungen bekommt Anaconda zumindest in schöner Regelmäßigkeit.

http://anacondamining.com/november-7-2016-anaconda-mining-na…

Trotz der positiven Presse werden in Canada kaum Aktien gehandelt. Das Volumen in den letzten 30 Handelstagen bewegt sich in Euro zwischen 500€ und max. 20.000€ je Handelstag.

Beste Grüße / Harry

[IQ4U]

Antwort auf Beitrag Nr.: 53.631.957 von harry_limes am 06.11.16 18:54:52

Was die PR anbelangt leistet das MM hervorragende Arbeit in Neufundland!

Ich würde mir wünschen, dass dies zukünftig auch zu Investitionen der profitierenden Bevölkerung führt.

Ebenso wäre es wünschenswert, dass das MM weitere Insiderkäufe vornimmt.

Hier wieder eine positive Meldung über unsere Schlange:

Anaconda Mining named 2016 Miner of the Year by CIM Newfoundland Branch

http://www.stockhouse.com/news/press-releases/2016/11/07/ana…

[bigyawn]

Anaconda's Pine Cove produces 1,340 t/d in October

2016-11-08 09:24 ET - News Release

Mr. Dustin Angelo reports

ANACONDA MINING PROVIDES Q2 FY '17 OPERATIONAL UPDATE AND FY 2017 GUIDANCE

Anaconda Mining Inc. has provided an update on second quarter operations that will conclude on Nov. 30, 2016. As previously stated (see press release dated October 18, 2016), the Company reported that the average tonnes processed per operating day at the Pine Cove Mill was 1,220 in August and 1,340 in September. Anaconda continued to maintain average throughput in October at 1,340 tonnes per operating day. In addition, the average grade during September and October was 1.34 grams per tonne ("g/t"), approximately 15% higher than the grade reported during the first quarter of fiscal 2017 and in line with previous guidance. Consequently, the Company expects gold sales volume to exceed first quarter results and be between 3,800 and 4,000 ounces for the second quarter ended November 30, 2016.

Anaconda has also made adjustments to its mining operations. In mid-October, the Company completed rock placement for Phase 1 of Tailings Storage Facility II and reduced loading and hauling activities to five days per week, 10 hours per day from seven days per week, 12 hours per day. Anaconda expects the new schedule to remain in place for the remainder of the fiscal year. Furthermore, the average strip ratio for September and October was 5.5 : 1, waste to ore, as compared to 8.2 : 1 in the first quarter.

Fiscal 2017 Guidance:

In its press release dated August 26, 2016, Anaconda reported that it expected to sell over 16,000 ounces of gold in fiscal 2017 and generate over $24 million of revenue using a gold price of $1,500 per ounce. Anaconda is refining its guidance in light of several factors, including first quarter results, current gold price, throughput rates, strip ratio and grade. It has begun to see improvements in the second quarter with respect to increased grade and throughput as well as a decreased strip ratio. In the second half of the year, grade is expected to continue to be about 15% to 20% above first quarter grade of 1.17 g/t while strip ratio is planned to be between 3 : 1 and 4 : 1, waste to ore. Because of the upcoming winter season, the Company is forecasting throughput to be about 1,300 tonnes per operating day for the second half of fiscal 2017, slightly lower than the recent run rate. Overall, Anaconda is expecting better operating and financial results in the second half of the year as compared to the first half.

During the second half of fiscal 2017, unit cash costs are expected to return to their historical levels ($1,000 to $1,075 per ounce) resulting in cash cost per ounce for the year being between $1,100 and $1,175. All in sustaining cash cost ("AISC") per ounce is also expected to reduce during the second half of fiscal 2017 as Phase 1 of Tailings Storage Facility II will be complete and the Company's 17,000-metre drill program (the "2016 Drill Campaign") will be nearly finished by the end of the second quarter. Anaconda is forecasting full year AISC per ounce to be between $1,675 and $1,750, primarily because of investments made in tailings storage and exploration. Thus far, the 2016 Drill Campaign has generated positive results and may demonstrate the potential to expand resources (See press releases dated September 20, 2016, October 12, 2016 and October 27, 2016).

The following table summarizes the expectations of certain key operating and financial metrics for the second half of fiscal 2017 and the entire fiscal 2017. All dollar amounts are in Canadian dollars unless otherwise noted.


Q3 & Q4 FY '17 FY '17
Sales volume (oz.)8,500 - 8,900 15,500 - 16,000

Unit economics:
Rev / oz. $1,625 - $1,675$1,625 - $1,675
Cash cost / oz. $1,000 - $1,075$1,100 - $1,175
AISC / oz. $1,350 - $1,425$1,675 - $1,750


NOTE: Cash cost per ounce sold is cost of sales from the period before depreciation divided by the number of ounces of gold sold in the period. AISC per ounce includes total cash costs plus the sum of corporate administrative expenses, sustaining capital expenditures, the addition of production stripping assets and certain exploration and evaluation expenses, all divided by the number of ounces sold in the period. This measure seeks to reflect the full cost to sustain the current level of gold production from the Company's operations. Certain other cash expenditures, including income tax payments and financing costs are not included.

President and CEO, Dustin Angelo, stated, "The Point Rousse Project has performed extremely well since a challenging first quarter. We've gotten through a difficult period in our mine plan from a grade and strip ratio perspective and expect better performance from our mining activities for the remainder of the fiscal year. We've also gotten a boost from higher throughput where we expect to maintain at least 1,300 tonnes per operating day, on average, for the rest of fiscal 2017. Because of our slow start, we expect to produce and sell slightly less ounces this year than last, but we plan to finish strong. The revised outlook for the second half of fiscal 2017 highlights the projected increase in production and significant reduction of all-in sustaining cash costs. Also, our newly announced aggregates project will begin generating cash flow, which will enhance financial results."

We seek Safe Harbor.

© 2016 Canjex Publishing Ltd. All rights reserved.