Minimize

Welcome!

Anaconda Mining – The Overall Strategy In Atlantic Canada

Cory댊
January 29, 2018

We have been following Anaconda Mining for the past few months due to some of your comments and emails to me. The Company has a lot going on with a mine in production and a growing number of exploration assets. I had the chance to sit down with the Chairman of Anaconda Jonathan Fitzgerald to get a better idea of the big picture plans.

Please email me directly at Fleck@kereport.com with any followup questions or comments for Jonathan.

Click here to visit the Anaconda Mining website for more information.

Click download link to listen on this device: Download Show

Discussion
46 Comments
    CFS
    Jan 29, 2018 29:17 PM

    In case you’re wonder why PMs went down today with Bonds and Stocks….

    Remember it’s options closing day tomorrow on the LBMA.

    CFS
    Jan 29, 2018 29:19 PM

    Ira Epstein metals:

    https://youtu.be/JY8dsEwA8So?t=31

      Jan 30, 2018 30:03 AM

      this guy does a great job…imo……appreciate the updates……

        Jan 30, 2018 30:55 AM

        +1 Those Ira Epstein videos are very well done and he’s very easy to follow.

    Jan 29, 2018 29:31 PM

    Thanks for the (ANX) update guys. Lot’s of good work happening and upcoming news to look forward to from the Anaconda team.

    Jan 29, 2018 29:39 PM

    Stories from Goldboro $ANX with The Unknown Geologist

    by @Newton on January 10, 2018

    https://ceo.ca/@newton/stories-from-goldboro-anx-with-the-unknown-geologist

      Jan 29, 2018 29:43 PM

      > Unknown Geologist: “And that’s just one example. They drilled one hole recently that was 485 grams over 2.6-meter core length.”

      >> Bob Moriarty: “I saw that.”

      > Unknown Geologist: “That is probably a two-meter-wide belt. It was 33 meters deep. I think they are planning to do a bulk sample and I said, “Take one drill, go 25 meters to the west, and drill a hole up dip — if you hit it again, then go 25 meters to the east and strip it off,” Fifteen and a half ounces per tonne over two meters would be nice. Even if it’s one ounce with dilution @ 10,000 tons of that could go on one barge. Send it to the Anaconda mill and they could get most of last year’s production on that one barge! Then, you can finance further infill drilling.”

      “When you look at the PEA, there are 800,000 ounces defined at 5 grams at a 2-gram cutoff but if you look at the model then you will see that it’s not continuous. The high grade 10 to 12 gram per tonne belts in the PEA model aren’t continuous. And the reason being is because how it was drilled.”

      “When we hit anything 6 grams or better over a meter-and-a-half at Forest Hill, we moved the drill 25 meters east or west, depending on where you could move the drill, and tried to hit it again. At Goldboro, they never followed up ANY of the countless high-grade intersections. I think the reason is that they were looking for a big open pit. If you have a 250-meter-long-hole, then you’re probably going to hit two or three intersections of 6 grams per tonne over considerable widths. I want to just take the model and say look, “Here’s where you need holes – you don’t have them there because of how it was drilled before. Chase those high grades!”

      This could be a spectacular high-grade mine but no-one really knows about it yet.”

      “Again, that’s why I’m here. I just want to see it happen. It’s been 30 years and I’m still beating the drum. I know what I’ve seen and I’ve compared it to everything else in the Province and I call it a Beast. It’s an unknown beast and the infill drilling will probably prove that out. There are approximately 800,000 ounces under existing 43-101 technical reports, but if you look at how that was drilled then you will see just how non-contiguous those high-grade ore blocks are. If you poke a few holes in the right spots, then you can say they are continuous.”

      https://ceo.ca/@newton/the-unknown-geologist-introduces-bob-moriarty-to-the-goldoboro-project-anx

        Jan 29, 2018 29:51 PM

        Anaconda Sitting on a Gold Mine
        Streetwise Reports (1/19/18)

        Bob Moriarty of 321 Gold sees a lot of potential in this company’s Nova Scotia and Newfoundland projects.

        “I haven’t been to Anaconda Mining Inc.’s (ANX:TSX; ANXGF:OTCBB) Goldboro Saddle Reef gold deposit in Nova Scotia. But I have been to the Dufferin Saddle Reef gold deposit on the same structure twice when it was owned by a predecessor company to the company who owns it now. Once you understand what a saddle reef is, they are all more or less the same. So knowing Dufferin means you understand Goldboro.”

        I began to look into Anaconda after my conversation with management. The more I looked at it, the more I liked it. What I like best is the potential. Anaconda is made up of a lot of little bits and I think that confuses people so they see the trees and miss the forest.

        In Newfoundland Anaconda owns a mill capable of processing 1280 tons a day and several different open pit mines. The mill is at Pine Cove and has done about 16,000 ounces a year historically. Management plans on using grade control to deliver more of the higher grade gold from the Point Rousse project consisting an open pit at Stog’er Tight and Argyle and increasing production to above 20,000 ounces. Stog’er Tight has a 43-101 resource of about 50,000 ounces of gold; Argyle has a resource of just under 70,000 ounces of gold. In addition, Anaconda plans a 5000-meter drill program at Argyle to add ounces.

        Within Newfoundland the company has an additional two exploration projects. One, named the Great Northern project has a historic resource of about 83,000 ounces. The other, the Tilt Cove project has gold in copper potential and an existing 30,000-ton stockpile of ore grade material.”

        “…. my conversations brought up Nova Scotia and their saddle reef deposit there. Now I will say, the company wasn’t nearly as interested in the fact they have a saddle reef deposit at Goldboro as I am.”

        “When I went to see the Dufferin mine and mill ten years ago, the company that owned it then had some wonderful pictures of what a saddle reef looks like. And the key is that you have reef after reef after reef. All a company has to do is drill down through the fold and they will keep hitting reefs. I think Anaconda shows some 26 reefs they have identified and the company who now owns Dufferin has identified 30 such reefs. The grades in such deposits can get stupid. Prior drilling at Goldboro had one intercept of 485 g/t gold over 2.6 meters in hole BR-17-04. Grade control is vital as the gold is very nuggety and hard to measure.”

        “Anaconda just released a PEA on Goldboro that was at least as interesting in what it didn’t say as what it did say. The PEA called for production of about 41,000 ounces climbing to 62,000 ounces in year five. All in sustaining costs are $797 CAD and $89 million CAD would be necessary for capital. The average grade would be 5.13 g/t and they guess a recovery of 93.6%.”

        “What they don’t say in the PEA is that once you have a mill in place, you can add as many high-grade ounces as you want. All you have to do is drill or drift down to more reefs. The PEA assumes an 8-year mine life. Knowing what I know about saddle reefs, they have a lot more like 50-year mine life but can’t say so.”

        “Having been to Nova Scotia in the past and seeing the Dufferin and now knowing about Goldboro, I have fantasies about the two companies either merging or one buying the other out. With Goldboro going into production, Anaconda has 60,000 to 80,000 ounce a year gold potential when the mill is complete. But there is an existing mill at Dufferin. Anaconda could save probably $50 million in capital cost by buying Resource Capital Group (RCG-V) that only has a $13 million dollar total market cap today.”

        “In any case, right now RCG needs management and ANX has it in spades. I’d love to see a deal between them on any terms.”

        “Anaconda has a lot of valuable pieces. They have a producing mill in Newfoundland with lots of potential feed. Management is young and first class. Goldboro is an unsung opera just waiting to be heard. While total gold production isn’t much now, I believe the 80,000 ounce potential is not far off. If ANX and RCG got together, it would be a company to be reckoned with. It’s a case where the whole is greater than the sum of its parts.”

        https://www.streetwisereports.com/pub/na/17975

          Jan 29, 2018 29:56 PM

          Everything #Newton on Anaconda Mining $ANX

          by @Newton on January 11, 2018

          https://ceo.ca/@newton/everything-newton-on-anaconda-mining-anx

          Jan 29, 2018 29:58 PM

          On January 22, 2018 at 1:41 pm,
          Excelsior says:

          I thought that Bob M’s idea of $ANX utilizing the mill over at Dufferin from $RCG makes good sense, instead of raising the capital to build another one. The initial plan of barging over Goldboro ore to Point Rousse is still a nice option as well. The combined asset base, and mills and pipeline of projects would turn a combined $ANX / $RCG into a nice mid-tier in a great jurisdiction.

          I own both companies so would love to see a merger between the 2 entities.

          Ever Upward!

            Jan 29, 2018 29:59 PM

            (RCG) RESOURCE CAPITAL GOLD PROVIDES DUFFERIN PROJECT UPDATE
            January 18, 2018

            “Bulk sampling activities and the evaluation of over 2,300 underground face samples conducted at the Dufferin Mine have yielded significant conclusions that will guide and improve future grade control programs, especially with regards to the reduction of dilution.”

            “Milling operations continue to deliver positive results as the Company has now produced a total of 4,115 ounces from its bulk sampling operations at Dufferin since receiving its mining permit on June 12, 2017, with over 2,000 ounces produced from the current bulk sampling program initiated in the last quarter of 2017.”

            http://www.rcgcorp.ca/news/2018/resource-capital-gold-provides-dufferin-project-update

    Jan 29, 2018 29:44 PM

    Korelin Economics Report – Mon 22 JAN, 2018 #AudioInterview

    $ANX $ANXGF ANACONDA MINING – PEA UPDATE AND SHARE ROLLBACK

    “Anaconda Mining came out with two significant news releases last week. First news out was an updated PEA at the Goldboro #Gold Project followed by a share consolidation of 4:1. Dustin Angelo, President and CEO of Anaconda joins me to recap the PEA and the key numbers that he found most significant. We also touch on the share consolidation and what investors can expect in terms of news flow.”

    http://www.kereport.com/2018/01/22/anaconda-mining-pea-update-share-rollback/

    Jan 29, 2018 29:02 PM

    Tax Loss Silly Season Ending

    Bob Moriarty for Streetwise Reports (12/18/17)

    “I have spent months talking to and researching the next company. Their name is Anaconda Mining (ANX-T). They are in gold production in Newfoundland and have about the lowest profile I have ever seen. For the last year the price range for the shares has been a low of $0.05 and a high of $0.08. They have way too many shares outstanding at 422 million and I hope down the road they do a roll back. It couldn’t possibly hurt the share price.”

    “In my viewpoint this stock is one of the least understood gold companies I have ever seen. With a number of major announcements expected in early January I am hesitant to say too much for now. I love the company, management and projects. If I ranked gold projects, this would be #2 behind Novo. Do yourself a favor and go to their presentation and bone up on them. I will be doing a serious and major piece on them in early January. But I’ve been snapping up shares in the open market for months.”

    https://www.streetwisereports.com/article/2017/12/18/tax-loss-silly-season-ending.html

      Jan 29, 2018 29:06 PM

      On December 19, 2017 at 10:57 am,
      Robert Moriarty says:

      “Goldboro is a saddle reef deposit. I’ve seen a similar saddle reef deposit near Goldboro. I don’t know if previous geo didn’t understand saddle reef deposits or what but Goldboro is a giant, high-grade sleeper that will make the company. But they have to educate investors as to what a saddle reef deposit is and why that’s important.”

        Jan 29, 2018 29:01 PM

        Ex, A public relations man must have the ardor of a zealot to make people mining conscious of stocks, GO BABY GO! DT

          Jan 29, 2018 29:05 PM

          DT – Ha! Well, hopefully this will provide a bevy of information for anyone considering doing some research on ANX all in one place. Let it begin……

    b
    Jan 29, 2018 29:13 PM

    Is somebody excited about anaconda mining?

      Jan 29, 2018 29:59 PM

      I don’t have that big of a position, but do believe in being thorough. 😉

        Jan 29, 2018 29:03 PM

        Bob M, Newton, Mickey Mantle, and Leni did a fabulous job of taking a deep dive with this company; so this seemed like a good time to showcase their work.

        Its amazing just how much can go into doing due diligence on a Jr mining company.

        Lastly, I’m hoping the company see the suggestions from the Unknown Geologist on treating this like a high grade resource and following up on the drilling he recommends, along with Bob M’s suggestion that Anaconda management do a good job communicating why a saddle reef deposit can give them resources in layer after layer after layer.

    Jan 29, 2018 29:54 PM

    Ex Man I owe you a few beers if we ever meet unbelievable job getting all this info in one place someday the cheap pre-merger shares will dry up and then suddenly Adios Muchachos !!!

      Jan 30, 2018 30:43 AM

      Thanks Mickey Mantle and agreed about things taking off with the tighter share structure now.

      Once the institutional markets wake up to this story over the next year or so Anaconda will be re-rated much higher. Looking forward to the resource updates this year, and to see if management starts chasing those high grade shoots the Unknown Geologist reviewed with the drill bit.

        Jan 30, 2018 30:48 AM

        I saw you post this on ceo earlier today. Thanks

        From 989 XFM – Short read from Dustin – Noteworthy…

        Anaconda Mining President and CEO encouraged about the Potential for a Gold Mine in Guysborough County

        Posted at 11:23 am on January 29, 2018

        “Drilling work is progressing in Goldboro, Guysborough County, and the company’s president says things are looking good. CEO and President of Anaconda Mining”

        “Dustin Angelo says that drilling for a possible gold mining project has been moving along, and core samples obtained in the area look very positive.”

        “Angelo says that the first few drills have revealed good content, and the future for Anaconda in the area looks promising.”

        “Angelo says the company is currently working through permit’s and applications, and they are looking to get the full project underway by 2021. Angelo adds that preliminary numbers from the economic assessment indicate up to 200 people could find work through Anaconda in the coming years.”

        http://www.stockhouse.com/companies/bullboard?symbol=t.anx&postid=27457969

        Jan 30, 2018 30:56 PM

        Labs backed up here also. Drill results should be coming soon !!!

    Jan 30, 2018 30:53 AM

    EX the Rex……… Great info……..and update…………

      Jan 30, 2018 30:47 AM

      Cheers OOTB. Lots of sharp people putting together early due diligence on this company before most have even heard of it. Hat tip to the guys doing the heavy lifting up above.

        Jan 30, 2018 30:51 AM

        Agree , Hat off To All the diligent workers……that like to share.

    Jan 30, 2018 30:44 AM

    Political……McCabe wants to burn the FBI…….
    http://financialsurvivalnetwork.com/2018/01/mccabe-threatens-to-torch-the-fbi/

      Jan 30, 2018 30:50 AM

      The Top people in the FBI……should be concerned with this threat…….McCabe wants his retirement money OR ELSE…………
      I say, FORGET IT, McCabe you do not deserve the extra money from the coffers of the US CITIZENS……GO FOR IT……..Expose all the corruption.

    Jan 30, 2018 30:09 AM

    Hmmm … I don’t see ANXGF listed at OTC (otcmarkets.com), only ANXGD listed on “grey market” which is something that I am not able to trade (says ANXGF is not listed)

      Jan 30, 2018 30:51 AM

      Yes, I believe the current cusip & ticker for Anaconda changed to ANXGD after the share rollback, where previously it was ANXGF.

      The main ticker is ANX.

        Jan 30, 2018 30:11 AM

        Often those OTC tickers ending in “D” are just temporary place holders, and then the stock will convert back to one with an “F” at the end of it, so I could see the ticker reverting back to ANXGF eventually.

          Jan 30, 2018 30:29 AM

          Thanks, Excelsior.

          Unfortunately, I need to trade OTC symbols in my account and ANXGD is not an option right now (unless I want to pay a surcharge … and I’m too cheap). Hopefully it will become available at some time as it sounds very interesting!