Video From Anaconda Mining To The Maritime Shareholders

April 22, 2018

As many of you know Anaconda Mining announced a formal takeover offer to the Maritime Resources shareholders. The video below features Dustin Angelo, Anaconda’s President and CEO outlining the benefits to all involved. Please take some time (the video is only 4:30 long) and let me know what you think.

Click here to listen to the most recent interview with Dustin and I.


    Apr 22, 2018 22:33 PM

    Great address and response from Dustin at Anaconda.

    The first offer from $ANX was in January to $MAE directly, and MAE didn’t act on it and their management just tried to entrench their foothold further. As a result, Anaconda took the deal directly to the MAE shareholders with this offer of $.16 per share and the 64% premium, which is more than fair, and yet the MAE official stance was for shareholders to take no action. (not a surprise there)

    A 64% premium is a plenty fine deal for $MAE shareholders, and the synergies that they’ll gain from Pine Cove Mill versus toll-milling it over with Rambler (which seems quite dubious with Maritime’s current financial situation and Rambler’s current capacity).

    Ultimately only MAE shareholders can look out for their best interest, and its up to them alone to decide if the 64% premium is a fair offer and if they see merit in the combined company; not the biased opinions of a Jr mining company management team trying to hold onto their jobs like MAE management is doing.

    Personally, I’ve been part of dozens of #takeover transactions over the years and 64% premium is very fair and more than many that have been executed in the past. We saw 2 other deals just in the last month (Hecla/Klonex) (Alio/Rye Patch) for less than this premium with more advanced & established companies.

    The offer is coming in now before the metals cycle gets more heated up, and because ANX is looking for a way to feed their Pine Cove Mill (in addition to the organic growth options that are also in front of them). If Maritime shareholders pass on this deal, then my guess is that Anaconda would simply go after Resource Capital Gold Corp (RCG) next.

    The whole point is that the combined company ANX/MAE will participate in the coming bull market but with more synergies, better access to capital, and more visibility/liquidity to investors. It is mind boggling that MAE shareholders believe that they could get this kind of immediate value creation by simply sticking with their status quo path forward (which has not delivered up until this point).

    The only reason to abstain from the deal would be that investors feel that MAE will be able to create more value on their own without the synergies & capabilities that ANX brings to the table. I’ve yet to see any investors outline how MAE or MAE investors have a better path forward on their own that is more immediately accretive. They’d have to raise more capital to build the tailings or their own processing center, or lose margins in toll-milling with companies that don’t have the capacity at present, and those are all further dilutive to existing shareholders.

    I hold shares in both companies, but have been been following the continual execution successes at ANX since the beginning of last year and have been invested in Anaconda since last summer. Only recently did I add shares of MAE to my portfolio, because I see the crazy value arbitrage being offered at present between the current share price and the takeover premium. It is an easy way to get Anaconda shares on the cheap (providing the deal goes through).

    If the deal fails to go though, then I’ll be selling the MAE shares with little hesitation, as I just don’t see their value appreciating the same in going at things solo.

    Again, great rationale laid out by Dustin and the ANX team. Ever Upward!

    Apr 22, 2018 22:31 PM

    EX Man. Very informative,persuasive post. Dustin has done a great job and will also do it for the soon to be Maritime partners. Simply this merger is a text book example of SYNERGY !!! When Dustin proposed the merger of Orex Exploration ( Goldboro Property )
    The shareholders at Anaconda Mining pitched a hissy fit at first. But over time as the proposal was fully explained and thought thru it passed by over 98%. I can see a similar result as this merger fully brings together two companies that fit like bacon & eggs 🙂 KD

      Apr 22, 2018 22:08 PM

      Agreed Mickey Mantle. This is a 1+1 = 3 synergy between the 2 companies and eventually the marketplace will realize this. Hopefully Maritime shareholders consider the 2 paths in front of them and make the connection that the Pine Cove Mill will be that asset that moves Hammerdown into production much sooner, will be much less dilutive to them, and the combined company of ANX/MAE will attract a much larger investor base. There are simply hundreds and hundreds of Gold companies to choose from, and by becoming a real combined force in Newfoundland and Nova Scotia then they move up the batting list an onto more investor’s radar. Cheers amigo!

    Apr 23, 2018 23:13 PM

    It gets really interesting if Rambler tenders it’s 10% interest in Maritime. Thus far Anaconda has not indicated that they have don so.

    Apr 27, 2018 27:47 PM

    $ANX $ANXGF Anaconda Scores Home Run After Home Run

    Bob Moriarty – Apr 27, 2018

    “I happen to be a big fan of saddle reef deposits. Their latest results from Goldboro in Nova Scotia showed 11.27 g/t gold over 13.5 meters, 9.93 g/t gold over 7.5 meters, 10.55 g/t Au over 6.1 meter and 5.10 g/t Au over 9.6 meters. It’s all part of a 30 hole, 7,200-meter drill program at Goldboro. Those are all home run holes.”

    “Anaconda is currently producing about 16,000 ounces of #gold yearly at Point Rousse in Newfoundland. By 2021 they expect to be adding an additional 41,000 ounces a year from Goldboro according to their PEA. The company is in the process of making a bid for $MAE Maritime. It’s an interesting bid…”

    Apr 27, 2018 27:48 PM

    Checking in with the Unknown Geologist on Goldboro, Anaconda Mining (ANX)

    by @Newton on April 25, 2018

    > Unknown Geo: “One thing is fantastic about their recent press releases and Dustin’s appearances on the Korelin Economics Report. I listened to that new recording today and the images with the last few holes are great.”

    “There have been some comments online about the fact that the recent intercepts have narrow widths, but those are very typical of the East Goldbrook system. If you look at the 9100 East section, it’s a beautiful image – one of the best images I’ve ever seen of the deposit. These guys know how to do things and their model looks fantastic. I wouldn’t disagree with anything that they have there.”

    “They’re drilling way out on the limbs and targeting the hinge of the anticline. In doing so, they’re finding the East Goldbrook System is pretty juicy far down the limbs but narrow. There was one intercept with 250 plus grams over 0.4 meters that led some people to stick up their nose and say, “too narrow to mine.” but I disagree. When I saw that result, I was impressed. That’s twice as good as anything they ever mined at Forest Hill Nova Scotia. The best results that we mined in Forest Hill over two years was one vein that was 20 centimeters wide. ”