Anaconda Mining Has Sold $7.6 Million in Gold So Far in 2018

Anaconda Mining Has Sold $7.6 Million in Gold So Far in 2018

April 12, 2018 ~ In a news release distributed today, Anaconda Mining Inc. announced its production results and some financial information covering a three month period ending March 31, 2018.

The company stated it sold 4,526 ounces of gold in that period, a 25.8% increase over a comparable time period last year.

The sales generated gold revenue of $7.6 million CAD.

Anaconda stated it produced 143,840 tonnes of ore during January-March 2018, which included 138,807 tonnes from the Pine Cove Pit and an initial 5,033 tonnes from the Stog’er Tight West Pit.

Anaconda’s President and CEO Dustin Angelo said:

“With a strong start to 2018, Anaconda continues to demonstrate its ability to develop and successfully operate gold mining operations in Atlantic Canada. The Company produced 4,293 ounces of gold, well ahead of plan and on track for its 2018 production guidance of 18,000 ounces. […]”

The company also stated it has commenced the conversion of the Pine Cove Pit into a fully permitted tailings storage facility, which it says will have a 15 year capacity.

Anaconda Mining is a TSX-listed gold mining, development, and exploration company, working in the provinces of Newfoundland & Labrador and Nova Scotia. Anaconda operates the Point Rousse Project located on the Baie Verte Peninsula. The Point Rousse Project is comprised of the Pine Cove open pit mine, the Stog’er Tight Mine, the Argyle Mineral Resource, and the Pine Cove Mill and tailings facility, and about 5,800 hectares of property.

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