Diskussion zu Signal Gold [Anaconda Gold] (Seite 153)

[bigyawn]

http://www.anacondamining.com/dat/files/367.pdf

[indexhunter]

Das dürfte jetzte im großen Bild spannend werden die nächsten Wochen.

Gold hat die 1140 nach unten druchbrochen. Alle Produzenten, die Ihre Schulden in Dollar haben dürften jetzt anfangen zu zittern. Der Chart von Barrick Gold sieht richtig übel aus. Alleine heute schon wieder 5% Minus.

Sobald die Amis ernst machen mit einer Zinserhöhung dürfte der Druck sich noch einmal erhöhen.

Hoffentlich kommt dann bald mal die große fundamentale Bereinigung und das physische Überangebot baut sich ein wenig ab in den nächsten 12 Monaten. Einer der Topproduzenten muss vor die Hunde gehen.

Das kleine Glück von Ana ist, dass Gold in CAD nach wie vor gut dahsteht. Es keine großen Verbindlichkeiten mehr gibt und das wenige noch nicht mal in USD.

Wenigstens etwas.

[marci2]

Kevin Bullock Joins Board of Directors of Anaconda Mining




TORONTO, July 7, 2015 /CNW/ - Anaconda Mining Inc. ("Anaconda" or "the Company") – (TSX: ANX) is pleased to announce that Kevin Bullock has joined its board of directors. Mr. Bullock is a registered Professional Mining Engineer in the province of Ontario and currently serves on the board of directors of B2Gold Corp. and Metallum Resources Inc. He is also President of Lindsay Mine Services Ltd., a mining industry consultancy. Mr. Bullock was Volta Resources Inc.'s President and CEO and was the founding President and CEO of Goldcrest Resources Ltd. (a Volta predecessor company) since its launch in 2002. He was instrumental in the growth of Volta from a shell company through to the ultimate sale of the company to B2Gold at the end of 2013. Mr. Bullock has over 25 years of experience, at senior levels, in mining exploration, mine development and mine operations. Throughout his career, he has been involved in various projects from inception through exploration to development and production.

President and CEO, Dustin Angelo, said, "On behalf of Anaconda, I would like to welcome Kevin to our board of directors and look forward to working with him. Over the last few years, Anaconda has been dedicated to strengthening its management team and board of directors as it matures as an operating company. Kevin's experience and expertise will serve us well as Anaconda plans to grow through the development of existing properties and the acquisition of other projects."

ABOUT ANACONDA

Headquartered in Toronto, Canada, Anaconda is a growth oriented gold mining and exploration company with a producing project, called the Point Rousse Project, and approximately 6,000 hectares of exploration 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 nine-fold. It is currently exploring three primary prospective gold trends which have approximately 20 kilometres of cumulative strike length and include four deposits and numerous prospects and showings, all within 8 kilometres of the Pine Cove mill. The Company's plan is to discover and develop more resources within the project area and double annual production from its current rate of approximately 15,000 ounces to 30,000 ounces.

FORWARD LOOKING STATEMENTS

This document contains or refers to forward-looking information. Such forward-looking information includes, among other things, statements regarding growth and is based on current expectations and assumptions of management that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statements include, but are not limited to: the expectations of the Company in expanding mineral resources and project mine life and the timing thereof, current and future market trends and growth opportunities and whether the Company will be able to capitalize upon them. Forward-looking statements may include words such as "plans," "may," "estimates," "expects," "indicates," "targeting," "potential" and similar expressions. These forward-looking statements are based on current expectations and are subject to significant risks and uncertainties, including the risks factors outlined in the Company's latest annual information form and other continuous disclosure documents filed at www.sedar.com, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances, except as required by law.

SOURCE Anaconda Mining Inc.
Anaconda Mining Inc., Dustin Angelo, President and CEO, [phone], Email: [e-mail]; Kingston Advisors, [phone], Email: [e-mail]; Company website: www.anacondamining.comCopyright CNW Group 2015

[bigyawn]

Anaconda Mining sells 15,821 oz Au in fiscal 2015

2015-06-18 07:58 ET - News Release

Mr. Dustin Angelo reports

ANACONDA MINING SETS ANNUAL PRODUCTION RECORDS AND SELLS NEARLY 16,000 OUNCES OF GOLD IN FISCAL 2015

Anaconda Mining Inc. has released certain financial and operating results from the fiscal fourth quarter for the three months ended May 31, 2015, and from the full year ended May 31, 2015. During the fourth quarter, the Company sold 3,949 ounces of gold and generated $5,657,527 in revenue at an average sales price of $1,433 per ounce. Sales volume and revenue for fourth quarter fiscal 2015 were approximately 4% and 7% higher than the fourth quarter fiscal 2014 sales volume and revenue, respectively. For fiscal 2015, the Company sold 15,821 ounces of gold and generated $22,234,072 in revenue at an average sale price of $1,405 per ounce. Compared to fiscal 2014, sales volume and revenue increased by 9% and 10% respectively. Year-over-year revenue increased due to a rise in average sales price from $1,384 per ounce in fiscal 2014 to $1,405 in fiscal 2015 and because the sales volume achieved in fiscal 2015 was over 1,200 ounces higher than the sales volume achieved in fiscal 2014. For fiscal 2015, the mill processed over 343,000 tonnes of ore, 38,000 more tonnes than fiscal 2014. Year-over-year, mill availability and overall recovery increased to 92% and 84%, respectively; up from 88% and 83%, respectively. The Company expects to file its full financial statements by August 28, 2015.

President and CEO, Dustin Angelo, stated, "Operationally, fiscal 2015 was a record year for many metrics - sales volume, recovery, availability, tonnes processed, tonnes per operating day and, waste and ore production. The Point Rousse Project really hit its stride in the second half of the fiscal year where our continuous improvement efforts resulted in 8,457 ounces sold, nearly 1,100 more than the first half of the fiscal year. These achievements were set during the end of a very harsh winter and despite a major flood in the pit which slowed mining activities during the fourth quarter. Our operating team remains focused on achieving higher daily throughput and recovery and believes it can exceed current performance in fiscal 2016."

FY Q4 2015 Mill Operations Overview:

The Pine Cove mill operated for 85 days during the fourth quarter fiscal 2015 at an availability rate of 92%. For the quarter, the mill processed 86,495 dry tonnes of ore at an average feed grade of 1.65 grams per tonne. Overall mill recovery was 86%, compared to 82% in fourth quarter fiscal 2014, primarily due to continued close monitoring of the optimal grind size in the leach and flotation circuits. Mill availability benefited in the fourth quarter from continued preventative maintenance activities while throughput benefited from the installation of a new cyclone feed pump motor which removed a previous bottleneck from the circuit. There was also extensive work done to optimize the recirculating load in the grinding circuit.The mill's run rate for the fourth quarter fiscal 2015 was 1,018 tonnes per operating day and continues to exceed the Company's new standard of 1,000 tonnes per operating day. Building on this improvement, the Company has begun a project in the mill to automate various controls and procedures which are expected to further increase productivity and reduce operating costs. The project is scheduled to be completed in the third quarter fiscal 2016.

FY Q4 2015 Mining Operations Overview:

The mine operated for 64 days in the fourth quarter fiscal 2015 and produced 73,345 tonnes of ore and 442,676 tonnes of waste. Waste production increased in the fourth quarter as the operations focused on preparing the Phase III pit area. Phase III is the next phase of development for the open-pit operation and work focused on mucking till and overburden, as well as developing wide, easy-to-access benches for use in fiscal 2016. Preparation work in Phase III resulted in a higher strip-ratio for the quarter which was offset by low hauling costs due to operations being in close proximity to the waste dump. For fiscal 2016, the mining operation will continue production in the Phase III pit area.The following table summarizes the key operating statistics by quarter for the fiscal year ended May 31, 2015:

OPERATING STATISTICS: Q1 '15 Q2 '15 Q3 '15 Q4 '15 Total/Avg.

Mill
Operating days 87 81 83 85 336
Availability 95% 88% 92% 92% 92%
Dry tonnes processed 83,782 85,515 87,386 86,495 343,178
Tonnes per 24-hour period 963 1,056 1,053 1,018 1,021
Grade (grams per tonne) 1.80 1.60 1.84 1.65 1.72
Overall mill recovery 84% 85% 83% 86% 84%

Gold sales volume (troy oz.)3,933 3,431 4,508 3,949 15,821

Mine
Operating days 64 63 59 64 250
Ore production (tonnes) 89,239 77,489 81,459 73,345 321,532
Waste production (tonnes) 492,040457,387370,209442,6761,762,312
Total production (tonnes) 581,279534,876451,668516,0212,083,844
Waste: Ore ratio 5.5 5.9 4.5 6.0 5.5


NOTE: Operating statistics exclude changes in in-circuit inventory.

We seek Safe Harbor.

© 2015 Canjex Publishing Ltd. All rights reserved.

[bigyawn]

Anaconda Mining starts fiscal 2016 exploration program

2015-06-10 07:17 ET - News Release

Mr. Dustin Angelo reports

ANACONDA MINING TO EXTRACT BULK SAMPLE FROM THE STOG'ER TIGHT PROJECT

Anaconda Mining Inc. has initiated its fiscal 2016 exploration program, including the extraction and milling of a bulk sample, at its Stog'er Tight gold project located approximately 3.5 kilometres east of the Pine Cove mill along the Pine Cove mine road.

The fiscal 2016 Stog'er Tight field exploration program includes stripping of historical mine workings to expose the deposit, detailed mapping and sampling of the deposit at surface, near-surface drilling, and the extraction of a 2,800-tonne bulk sample. The goal of the exploration program, including the bulk sample, is to gain information at or very near surface to determine the historical mining surface, to confirm mineralization at key locations, and to develop grade control and mining techniques.

All approvals have been received from the Newfoundland and Labrador Department of Natural Resources, and it is anticipated that stripping and drilling activities will begin on the property within the week. The bulk sample is planned for extraction in late June and will be processed at the Pine Cove mill. The field component of the fiscal 2016 program, along with previous Anaconda and other historical drilling, will form the basis of a resource calculation anticipated for late summer.

The company is also working on plans to mine a 30,000-tonne bulk sample in the late fall as part of its fiscal 2016 mining budget. This larger bulk sample is subject to acceptance of a development, rehabilitation and closure plan, in addition to an environmental assessment. Concurrent with the exploration program at Stog'er Tight, the company will submit all appropriate documentation and expects to receive the requisite approvals during early fall of 2015 to commence mining later in the calendar year. The 30,000-tonne sample also represents the first steps toward bringing the formerly producing mine into full-scale production.

President and chief executive officer Dustin Angelo stated: "The development of the Stog'er Tight project demonstrates Anaconda's commitment to extending the life of the Point Rousse project. The 2,800-tonne bulk sample, followed by a larger sample later in the fall, is an important first step in ultimately reaching our goal of bringing Stog'er Tight into production. If results from these samples prove positive, they will assist us with mine planning, processing and future exploration. Over the coming year, we will continue exploring to define the resource potential of Stog'er Tight and outline its potential mine life at a base-load production rate of approximately 15,000 ounces per year. Our goal is to demonstrate that we can expand project life between the remaining mine life at Pine Cove and the new deposit at Stog'er Tight."

History of the Stog'er Tight project

The company acquired a 100-per-cent undivided interest in the previously permitted Stog'er Tight project through a three-year option agreement with 1512513 Alberta Ltd., a subsidiary of Coordinates Capital, as part of Anaconda's decision to consolidate the Ming's Bight Peninsula.

The previous development, rehabilitation and closure plan was prepared in conjunction with a 2010 mineral reserve estimate. This historical estimate was completed by P&E Mining Consultants Inc. and reported a historical mineral reserve of 65,200 tonnes grading 4.96 grams per tonne gold (approximately 10,400 ounces), an indicated resource of 96,000 tonnes grading 7.04 grams per tonne gold (approximately 21,700 ounces) and an inferred resource of 53,000 tonnes grading 5.75 grams per tonne gold (approximately 9,800 ounces) (this is a historical estimate as such term is defined in National Instrument 43-101*).

This news release has been reviewed by Paul McNeill, PGeo, vice-president, exploration, with Anaconda Mining, a qualified person under National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

* The Stog'er Tight historic resource estimated by P&E Mining Consultants should not be relied upon and is presented here only as a statement of historical significance. A qualified person has not done sufficient work to classify the historical resource estimate as a current resource estimate, and the company does not treat it as a current estimate. Additional work will be required to define a new resource estimate in compliance with the Canadian Institute of Mining, Metallurgy and Petroleum standards on mineral resources and reserve definitions as required by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

We seek Safe Harbor.

© 2015 Canjex Publishing Ltd. All rights reserved.

[indexhunter]

Antwort auf Beitrag Nr.: 49.934.823 von osno48 am 08.06.15 18:37:37

Im Grunde ganz einfach: es gibt mehr Verkäufer als Käufer.

Unabhängig davon, ist Anaconda immer noch eine heiße Kartoffel. Die AISC sind anch wie vor unverschämt hoch und sollte es dann endlich mal zu einer finalen Konsolidierung auf den Rohstoffmärkten kommen, dann dürfte ein Miniproduzent wie Ana es richtig schwer habe, zumal die Liquidität nicht wirklich rosig aussieht.

Wäre irgendetwas positives zu erwarten, dann hätte der Kurs schon längst das gezeigt. Naja, mal soll die Hoffnung ja nicht aufgeben, aber das ist hier ne High Risk Nummer.

Insolvenz ist nicht ausgeschlossen. Da muss nur die eine Mühle abbrennen und die Produktion 3 Monate still stehen, dann gehen hier die Lichter aus.

Zitat von osno48: kann mir jemand erklären was bei Anaconda los ist
liegt es nur am Goldpreis oder mehr?

[osno48]

kann mir jemand erklären was bei Anaconda los ist
liegt es nur am Goldpreis oder mehr?

[IQ4U]

In Kanada steht wurde das Ask nun auf 0,06CAD raugezogen!

[IQ4U]

Gestern und auch schon vorgestern lagen mehr als 200.000 Stück in Kanada im Bid zu 0,05 CAD!

Jetzt sollten halt endlich mal die Käufer gezwungen werden das Bid zu erhöhen und nicht wieder, dass die Verkäufer das Askin senken...

[bigyawn]

Anaconda loses $114,122 in Q3 2015

2015-04-09 07:31 ET - News Release

Mr. Dustin Angelo reports

ANACONDA MINING SELLS 4,508 OUNCES AND GENERATES $1.9M OF POINT ROUSSE PROJECT EBITDA FOR Q3 FISCAL 2015

Anaconda Mining Inc. has released its financial and operating results for the three and nine months ended Feb. 28, 2015. The Company generated Point Rousse Project EBITDA (see Reconciliation of Non-GAAP Financial Measures) for the three months ended February 28, 2015 of $1,897,185. The Company sold 4,508 ounces of gold resulting in $6,266,754 in revenue at an average sales price of $1,390 per ounce. Cash cost per ounce sold at the Point Rousse Project was $969 and all-in sustaining cash cost was $1,226 (see Reconciliation of Non-GAAP Financial Measures). Adjusted net earnings for the three months ended February 28, 2015 was $187,524. As at February 28, 2015, the Company had cash and cash equivalents of $1,657,027 and net working capital of $1,707,397. The Company generated Point Rousse Project EBITDA for the nine months ended February 28, 2015 of $3,574,869. The Company sold 11,872 ounces of gold resulting in $16,576,545 in revenue at an average sales price of $1,396 per ounce. Cash cost per ounce sold at the Point Rousse Project was $1,095 and all-in sustaining cash cost was $1,466. Adjusted net loss for the nine months ended February 28, 2015 was $827,154, which excluded the write down of the Chilean assets. President and CEO, Dustin Angelo, stated, "The third quarter of fiscal 2015 was a noteworthy period as record mill throughput translated into record sales volume. The weather proofing initiatives and preventative maintenance program at the Pine Cove mill paid dividends as we experienced a 38% increase in throughput and an 8% rise in availability compared to the same quarter in fiscal 2014. The increased gold volume resulted in a cash cost per ounce at the project level of $969. Our financial and operating results illustrate the potential that comes with leveraging the highly fixed nature of our cost structure and driving down unit costs. Hence, we continue to execute on our strategy to double the production at the Point Rousse Project through the extension of base load production and layering high-grade ore to deliver a higher grade, blended feed to the mill."

Highlights for the three and nine months ended February 28, 2015

OPERATING PERFORMANCEAs at February 28, 2015, the Company had cash and cash equivalents of $1,657,027 and net working capital of $1,707,397. For the three months ended February 28, 2015, the Company sold 4,508 ounces of gold and generated $6,266,754 in revenue at an average sales price of $1,390 per ounce. For the nine months ended February 28, 2015, the Company sold 11,872 ounces of gold and generated $16,576,545 in revenue at an average sales price of $1,396 per ounce. The mill processed 1,053 tonnes of ore per operating day for the three months ended February 28, 2015. The overall recovery in the mill for the three months and nine ended February 28, 2015 was 83% and 84% respectively. Mill availability was 92% for the three and nine months ended February 28, 2015. Cash flow from operations was $2,307,684 for the nine months ended February 28, 2015. Cash cost per ounce sold at the Point Rousse Project for the three and nine months ended February 28, 2015 was $969 and $1,095 per ounce respectively. All-in sustaining cash cost per ounce sold ("AISC") (see Reconciliation of Non-GAAP Financial Measures), including corporate administration, capital expenditures and exploration costs for the three and nine months ended February 28, 2015 was $1,226 and $1,466 per ounce respectively. At the Point Rousse Project, EBITDA for the three and nine months ended February 28, 2015 was $1,897,185 and $3,574,869 respectively. On a consolidated basis, EBITDA for the three and nine months ended February 28, 2015 was $1,419,660 and $140,332. EBITDA for the three and nine months ended February 28, 2015 was $1,422,885 and $2,123,743, respectively, excluding the impact of Chilean assets. Net loss for the three and nine months ended February 28, 2015 was $114,122 and $3,460,106 respectively. Adjusted net earnings for the three months ended February 28, 2015 was $187,524 and adjusted net loss for the nine months ended February 28, 2015 was $827,154, which excluded the write down of the Chilean assets. Purchase of property, mill and equipment for the nine months ended February 28, 2015 was $1,539,422. Key items included tailing expansion costs of $782,000, dry stacking of $138,000, blast monitoring of $113,000, a compressor of $100,000, waste dump development of $79,000, men's dry upgrades of $54,000, a forklift of $45,000 and survey equipment of $38,000. Production stripping assets for the nine months ended February 28, 2015 included additions of $353,988 and depreciation of $153,421.

GROWTH INITIATIVES

Approximately $1,451,000 was spent at the Point Rousse Project on exploration for the nine months ended February 28, 2015. The Company's exploration initiatives included diamond drill programs at the Stog'er Tight and Pine Cove deposits and trenching and soil sampling at various locations around the Ming's Bight Peninsula including the Goldenville Trend and the Ming's West area.

Operations overviewDuring the three months ended February 28, 2015, the gold sales volume of 4,508 ounces represented a 59% increase over the same period in fiscal 2014 largely due to increased mill availability, throughput and grade. Mill availability increased from 84% to 92%, an additional 7 operating days for the three month period year over year. Ore tonnes processed increased from 63,123 ore tonnes to 87,386, a 38% increase compared to the third quarter of fiscal 2014. Grade also increased from 1.79 g/t for the three months ended February 28, 2014 to 1.84 g/t for the three months ended February 28, 2015. Average sales price for the three months ended February 28, 2015 was $1,390 per ounce versus $1,365 per ounce for the same period in fiscal 2014. As a result of the higher sales volume, gross revenue for the three months ended February 28, 2015 of $6,266,754 was higher than the same period of fiscal 2014 by $2,401,544 or 62%.The following table summarizes the key operating metrics for the three and nine months ended February 28, 2015 and 2014:


OPERATING STATISTICS: For the three months endedFor the nine months ended
February 28 February 28 February 28 February 28
2015 2014 2015 2014
Mill
Operating days 83 76 251 240
Availability 92% 84% 92% 88%
Dry tonnes processed 87,386 63,123 256,683 223,127
Tonnes per 24-hour period 1,053 831 1,023 930
Grade (grams per tonne) 1.84 1.79 1.75 1.84
Overall mill recovery 83% 83% 84% 83%
Gold sales volume (troy oz.) 4,508 2,832 11,872 10,780
Mine
Operating days 59 57 186 183
Ore production (tonnes) 81,459 78,043 248,187 236,765
Waste production (tonnes) 370,209 310,067 1,319,636 1,222,426
Total production (tonnes) 451,668 388,110 1,567,823 1,459,191
Waste: Ore ratio 4.5 4.0 5.3 5.2

MILLING OPERATIONS

The mill operated for 83 days during the third quarter of fiscal 2015 and processed 87,386 dry tonnes of ore resulting in a record average run rate of 1,053 tonnes per operating day. Tonnes processed in the third quarter of fiscal 2015 were a 38% increase from the similar period in fiscal 2014. Mill availability was 92%, eight percentage points higher than the third quarter of fiscal 2014. Recovery remained consistent at 83%. The Company modified its schedule and approach to crushing ore, introduced new reagents to control dust, prevent freezing and managed well the overall impact of winter weather at the crusher and on stockpiles. Also, an improved preventative maintenance program contributed to lower maintenance costs and significantly higher availability.

MINING OPERATIONS

The mine operated for 59 days in the third quarter of fiscal 2015 and produced 81,459 tonnes of ore and 370,209 tonnes of waste. Mining production decreased in the third quarter of fiscal 2015 as planned since stacking of waste material for the tailings dam expansion project was completed in the second quarter. The final liner of the tailings expansion will be installed in the fourth quarter of fiscal 2015. Grade increased in the third quarter of fiscal 2015, per the mine plan, compared to the first half of fiscal 2015. Blast movement monitoring technology and a GPS system installed on the excavator have maximized head grade and reduced dilution from 20% to less than 10%.

EXPLORATION

The Company is pursuing a strategy to leverage the existing infrastructure at the Point Rousse Project by exploring and developing its mineral licenses and mining leases in search of two general mineralization styles: Pine Cove like, quartz-carbonate-pyrite hosted (2+ g/t) mineralization (base load production sources) and higher grade (5+ g/t) quartz vein plus or minus carbonate plus or minus pyrite mineralization. The Company is working on expanding the current Pine Cove pit resource and bringing the Stog'er Tight deposit into production to extend the life of the Point Rousse Project. Anaconda is also exploring and delineating potentially higher-grade deposits such as Deer Cove and Romeo & Juliet to blend with relatively lower grade, Pine Cove and Stog'er Tight ore. With the high grade "layer" and a marginal increase to throughput, the Company expects to increase annual production to approximately 30,000 ounces. The Company envisions creating an operating complex on the Ming's Bight Peninsula with multiple pits and trucking the ore back to the Pine Cove mill.Consistent with this strategy, in the nine months ended February 28, 2015, the Company has made the following advances in exploration:Conducted diamond drill programs at the Deer Cove, Stog'er Tight and Pine Cove deposits to outline resources. Conducted trenching at two locations within the Point Rousse Project resulting in the discovery of the Argyle zone. Conducted mapping and soil sampling along the Goldenville trend resulting in the identification of new drill targets.During the course of Anaconda's exploration and development efforts, three primary gold trends have been identified within the Point Rousse Project area, with a cumulative prospective strike length of approximately 20 kilometres. The Company's recent exploration work, combined with historical results, has brought more clarity, understanding and confidence to the Company's geological interpretations and models. The Company believes it has the potential to discover and develop multiple deposits on the Ming's Bight Peninsula. As a result, Anaconda believes that the Point Rousse Project area could double production and continue for 10 years or more. Exploration and development efforts during the past nine months have focused entirely on implementing this strategy by focusing on extending the base load production centered on Pine Cove and Stog'er Tight as well as evaluating a potential high-grade gold source at Deer Cove and Romeo & Juliette and advancing grass roots projects at Goldenville and Argyle.Below is a brief overview of the gold trends on the Ming's Bight Peninsula and Anaconda's exploration efforts within them with specific reference to the Pine Cove and Stog'er Tight deposits.

The Scrape Trend

The Scrape Trend consists of a belt of highly prospective rocks approximately 7 kilometres long and approximately 1 to 2 kilometres wide. It begins southwest of the Pine Cove mine site and continues eastward to the community of Ming's Bight. The Scrape Trend includes the Pine Cove, Stog'er Tight and Romeo & Juliet deposits, the Anaroc and Animal Pond prospects and a new discovery referred to as the Argyle zone. These gold occurrences align with a fault delineated by a topographic lineament coincident with an airbourne EM conductor. The Scrape Trend hosts both base load and high-grade styles of mineralization.

The Pine Cove Deposit

The purpose of the drill program at Pine Cove was to ultimately achieve the following three goals - to increase total resources/reserves, which will extend the Pine Cove mine life, to reduce the stripping ratio by outlining near surface mineral resources/reserves, and to reduce the haul distance of waste-rock material by placing a waste storage facility near the northern margin of the pit design. The drill program identified shallow mineralization within the Pine Cove Pond and Northwestern Extension areas and continuity of the main deposit down dip, immediately adjacent to current mineral reserves. Further north, around the proposed waste rock storage area, two holes intersected several broad zones of low-grade mineralization at depths in excess of 200 metres. These results will be used to modify the current resource model and a new estimate will be calculated with the aim of bringing more resources into the mine plan and determine the feasibility of establishing a waste rock facility north of the pit.

The Stog'er Tight Deposit

Development work at the Stog'er Tight deposit included drilling and geological mapping. The goals of the drill program were - to intersect shallow mineralization, to intersect down-dip mineralization in areas where gold is anticipated, but not previously intersected, and to verify historical drilling programs by twinning existing drill holes in anticipation of publishing an NI 43-101 compliant resource. The results from the drill program were positive (see press release dated December 16, 2014) and will be used to assess the current resource and ultimately the feasibility of advancing the Stog'er Tight deposit to production. The next phase of work will include testing the limits of the deposit.

The Argyle Zone

With the goal of discovering another source of base load production along the Scrape Trend, Anaconda conducted a trenching program in the fall of 2014 to follow up on anomalous gold-in-soil values, which resulted in the discovery of the Argyle zone. The new discovery is located approximately 5 kilometres from the Pine Cove mill and consists of two areas of mineralization located approximately 200 metres apart (see press release dated January 8, 2015). The Argyle zone is a significant discovery because it extends the length of the Scrape Trend and demonstrates that new discoveries can be made near the Pine Cove mill using the Company's geological understanding and exploration model. The Company plans to conduct geophysical and geological mapping to test the surface extent of the Argyle zone, prior to drilling.

The Goldenville Trend

The Goldenville Trend is an 8-kilometre long trend of highly prospective rocks centered on an iron stone unit referred to as the Goldenville horizon. The Company believes the trend to be highly prospective because the trend is thought to contain ironstone hosted gold deposits. This is a well-established geological model and the region is known to host these deposits. The Goldenville Trend has numerous gold prospects including four small historical, hand-dug shafts, which were developed to mine visible gold. Anaconda is exploring the Goldenville Trend for high-grade deposits on the order of approximately 250,000 ounces of gold at 5 g/t or more (based on similar deposits and historical production within the region). If the Company is successful, it will have a longstanding high grade feed source for the Pine Cove mill to layer on top of the base load production from other sources like Pine Cove or Stog'er Tight. In the past six months, Anaconda has conducted geological mapping, prospecting and soil sampling along the eastern portion of the Goldenville Trend, specifically concentrating on the historical workings. Geological mapping identified several veins adjacent to the Goldenville horizon that should intersect the horizon at depth. The intersection of quartz-carbonate veins and the ironstone is a key target for mineralization within ironstone hosted gold deposits. To better delineate potential deposits exposed at surface, the Company conducted a detailed soil sampling program and identified several zones with anomalous gold-in-soil values, which are coincident with quartz veins. These samples have recently been analysed with final results expected in the fourth quarter.

The Deer Cove Trend

The Deer Cove Trend is located in the northern part of the Ming's Bight Peninsula and consists of a belt of prospective rocks approximately 3.5 kilometres in strike length. It is associated with the Deer Cove thrust fault and includes the Deer Cove deposit as well as various other showings and prospects.Historical drill results suggested that the Deer Cove deposit could be a source of high-grade feed for the Pine Cove mill. In the summer of 2014, Anaconda carried out a drill program on the Deer Cove deposit to better outline the distribution of high-grade gold within the vein and to test the down dip of the vein. The program consisted of 2,090 metres of diamond drilling in 20 holes (see press release dated February 27, 2015).Highlights of the diamond drill program included several high grade intercepts and all drill holes intersected mineralization. The data gathered during this program will be assessed in conjunction with historical data to ascertain the potential for a small, shallow, high-grade resource at the Deer Cove deposit that can be mined and layered onto the existing production at the Pine Cove mill.

Reconciliation of Non-GAAP Financial MeasuresThe 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 measures 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 and nine months ended February 28, 2015 and 2014:

For the three months ended
Feb. 28, Feb. 28,
2015 2014

Net income (loss) (114,122) (281,136)
Adjusting items:
Foreign exchange loss (gain) (1,535) (73)
Unrealized loss (gain) on
forward sales contract derivative 288,823 145,064
Write down of Chilean assets - -
Reclamation expense 14,358 13,729
Total adjustments 301,646 158,720
Adjusted net earnings (loss) 187,524 (122,416)

Cash cost per ounce sold is cost of sales before depreciation divided by gold ounces sold. All-in sustaining cash cost per ounce sold is cash cost, corporate administration, purchase of property, mill and equipment and purchase of exploration and evaluation assets divided by gold ounces sold. The following table provides a reconciliation of cash cost per ounce sold and all-in sustaining cash cost per ounce sold for the three and six months ended February 28, 2015 and 2014:

For the three months ended
February 28 February 28
2015 2014
Cost of sales 5,603,145 4,355,862
Less: Depletion and depreciation (1,233,576) (593,262)
Cash operating cost 4,369,569 3,762,600
Corporate administration 474,300 491,400
Purchase of property, mill and equipment 332,491 414,539
Purchase of exploration and evaluation assets349,840 85,845
All-in cash cost 5,526,200 4,754,384
Gold ounces sold 4,508 2,832
Cash cost per ounce sold 969 1,329
All-in sustaining cash cost per ounce sold 1,226 1,679

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