Ana­conda sells 4,723 oz Au in fis­cal Q1

Stockwatch Daily - - MINES & METALS - Mr. Dustin An­gelo re­ports

ANA­CONDA MIN­ING Inc. has re­leased pro­duc­tion re­sults and cer­tain fi­nan­cial in­for­ma­tion from its fis­cal first quar­ter ended Aug. 31, 2017. The com­pany ex­pects to file its first quar­ter fi­nan­cial state­ments and man­age­ment dis­cus­sion and anal­y­sis by Oct. 12, 2017.

First quar­ter fis­cal 2018 high­lights:

• Ana­conda sold a record 4,723 ounces of gold in the first quar­ter of fis­cal 2018, eclips­ing the pre­vi­ous record of 4,658 ounces in the fourth quar­ter of fis­cal 2017, and rep­re­sents a 61.8-per-cent in­crease over the first quar­ter of fis­cal 2017.

• The com­pany recorded rev­enue of $7.6-mil­lion in the first quar­ter based on an av­er­age gold price of $1,612 per ounce, a 55-per-cent in­crease in rev­enue over the first quar­ter of fis­cal 2017.

• Ana­conda achieved record mill through­put of 119,401 tonnes, a 20-per-cent in­crease over the first quar­ter of fis­cal 2017.

• The com­pany pro­duced 158,857 tonnes of ore from the Pine Cove pit in the first quar­ter of fis­cal 2018, at a sig­nif­i­cantly re­duced strip ra­tio of 2.3:1 waste tonnes to ore tonnes.

• Ana­conda strength­ened its Point Rousse in­fra­struc­ture with the gov­ern­ment ap­proval to con­vert the Pine Cove pit into a tail­ings fa­cil­ity with a 15-year stor­age ca­pac­ity based on ex­ist­ing through­put rates. Pres­i­dent and chief ex­ec­u­tive of­fi­cer, Dustin An­gelo, stated: “We are off to a great start to the 2018 fis­cal year, with a record quar­ter in terms of gold sold and mill through­put. Af­ter achiev­ing 4,723 gold ounces sold in the first quar­ter of fis­cal 2018, we are well on track to meet our fis­cal year 2018 guid­ance of 15,500 ounces. The Pine Cove mill con­tin­ues to demon­strate con­sis­tent through­put and re­cov­ery rates, val­i­dat­ing its op-

er­a­tional value as a cor­ner­stone as­set for the com­pany. Our in­fra­struc­ture was also re­cently strength­ened with the gov­ern­ment ap­proval to con­vert the Pine Cove pit into a seven-mil­lion-tonne tail­ings stor­age fa­cil­ity. The strong op­er­a­tional per­for­mance at our Point Rousse project is key to our growth strat­egy, al­low­ing us to progress ex­cit­ing projects such as the high-grade Gold­boro project in Nova Sco­tia and the Ar­gyle discovery at Point Rousse.”

(See ANX Ta­ble 1 on page 3)

Ana­conda ex­pects to com­plete min­ing in the Pine Cove pit by the end of 2017 in line with fis­cal 2018 guid­ance, and will tran­si­tion to the Stog’er Tight pits early in the 2018 cal­en­dar year. The com­pany has re­ceived ap­proval from the New­found­land and Labrador Depart­ment of Nat­u­ral Re­sources to amend the Pine Cove prop­erty de­vel­op­ment plan and re­ha­bil­i­ta­tion and clo­sure plan to uti­lize the Pine Cove pit at the Point Rousse project as a seven-mil­lion-tonne in-pit tail­ings stor­age fa­cil­ity. Dur­ing the re­main­ing months of the 2017 cal­en­dar year, the com­pany will ac­cel­er­ate the min­ing rate at the base of the Pine Cove pit and stock­pile ore, which will al­low for the de­po­si­tion of tail­ings into the fa­cil­ity in early 2018.

We seek Safe Har­bor.

Erika Flores con­densed this news re­lease (erikaf@stock­watch.com).

Dustin An­gelo, Kevin Bul­lock, Michael James By­ron, Jonathan Fitzger­ald, Lewis Vic­tor Lawrick, Maruf Raza

(ANX) Shares: 381,500,492

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