(MENAFN - ACCESSWIRE ) PHOENIX, AZ / ACCESSWIRE / March 26, 2019 / Uptick Newswire Stock Day Podcast welcomed Anaconda Mining Inc. (ANXGF) ("the Company"), a growing gold producer focused in the prospective Atlantic Canadian jurisdictions of Newfoundland and Nova Scotia. President and CEO, Dustin Angelo, joined Stock Day host Everett Jolly.
Jolly began the interview by asking Angelo to provide some background information on the Company. Angelo explained that the Company has been producing gold at its Point Rousse Project on the Baie Verte Peninsula, Newfoundland for about the last 10 years. Over that period of time, it has generated a significant amount of cash flow and essentially financed its own growth initiatives at the project. In May 2017, it closed an acquisition of Orex Exploration, acquiring the Goldboro Gold Project in Nova Scotia. He shared that their projects have been expanding and that within the next few years when Goldboro goes into production, the Company expects to reach 60,000 to 70,000 ounces per year. Their goal is to grow organically and to eventually reach production numbers of around 100,000 ounces per year.
Jolly then inquired about the Company's recent CAD$5 million term loan with the Royal Bank of Canada and asked what these funds will be used for. Angelo stated that the funds were brought onboard to finance the 2019 objectives related to developing their Goldboro Gold Project in Nova Scotia. These objectives include completing a feasibility study by early Q4, as well as finalizing applications and other test work for the requisite permits to begin construction in 2020 and ultimately to go into production in 2021. Angelo explained that the loan will fund these milestones without diluting shareholders through an equity issuance. Anaconda expects to comfortably repay the loan over the next 24 months using cash generated at the Point Rousse Project.
Jolly noted that the Company has experienced a massive boost in revenue over the past year and asked why the stock is currently still so undervalued. "We've built a tremendous operating platform in Atlantic Canada and are just starting to demonstrate the ability to grow gold production significantly.", stated Angelo. He shared that once their projects are brought into production the value of the Company will increase, as well as the interest in the Company. In the meantime, the low stock price represents an opportunity for interested investors to purchase shares at an attractive value.
Angelo then mentioned that the Company was a finalist this year at Goldcorp's Disrupt Mining competition during PDAC early this month where it received substantial recognition for and interest in its innovative technology. It has been developing a patent pending technology that will enable mining companies to economically mine steeply dipping, narrow vein deposits which cannot be profitably mined using conventional mining methods. Being part of such a competition highlights the innovative nature of Anaconda and how it is not an ordinary junior mining company. In the future, the Company is hoping to use this technology to exploit some of its own narrow vein deposits that are not being mined currently, as well as license the technology to other companies in the industry.
To close the interview, Jolly asked Angelo what listeners should take away from the interview. "We've got a very strong management team that has performed very well operationally, and we've got a production profile trajectory that is on the rise. We could be close to 100,000 ounces per year in the next three years or so, and we're undervalued based on all typical industry valuation metrics.", closed Angelo.
To hear Dustin Angelo's entire interview, follow the link to the podcast here: https://upticknewswire.com/featured-interview-ceo-dustin-angelo-of-anaconda-mining-inc-otcqx-anxgf-2/
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Anaconda Mining is a TSX and OTCQX-listed gold mining, development, and exploration company focused in the prospective Atlantic Canadian jurisdictions of Newfoundland and Nova Scotia. The Company operates the Point Rousse Project located in the Baie Verte Mining District in Newfoundland, comprised of the Stog'er Tight Mine, the Pine Cove open pit mine, the Argyle Mineral Resource, the fully-permitted Pine Cove Mill and tailings facility, deepwater port, and approximately 9,150 hectares of prospective gold-bearing property. Anaconda is also developing the Goldboro Gold Project in Nova Scotia, a high-grade Mineral Resource, subject to a 2018 a preliminary economic assessment which demonstrates strong project economics. The Company also has a wholly owned exploration company that is solely focused on early stage exploration in Newfoundland and New Brunswick.
This news release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in Anaconda's annual information form for the year ended December 31, 2018 , available on www.sedar.com . Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
President and CEO
150 York Street
Toronto, Ontario, Canada
Phone: (647) 260-1248
Fax: (416) 363-4567
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SOURCE: Uptick Newswire