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Anaconda Mining Sells 5,251 Ounces of Gold In Q1 2019, Generating $8.8m in Revenue TORONTO, April 11, 2019 /CNW/ - Anaconda Mining Inc. ("Anaconda" or the "Company") (TSX: ANX) (OTCQX: ANXGF) is pleased to announce production results and certain financial information from the three months ended March 31, 2019 ("Q1 2019"). All dollar amounts are in Canadian Dollars. The Company expects to file its first quarter financial statements and management discussion and analysis by May 2, 2019. First Quarter 2019 Highlights • Anaconda sold 5,251 ounces of gold in Q1 2019, a 16% increase over Q1 2018, generating gold revenue of $8.8 million at an average realized gold price of $1,671 per ounce sold1. The Company also had 749 ounces in gold doré bars in inventory at March 31, 2019, which were sold in early April. • The Company produced 77,367 tonnes of ore during the first quarter from mining at the Stog'er Tight Mine. Material moved also included 45,120 tonnes of waste development for a planned pushback of the Pine Cove Pit in anticipation of mining ore in the second quarter. • The Company ended the first quarter with stockpile of over 30,600 tonnes of ore at an estimated average grade of 1.73 grams per tonne ("g/t"). • The Pine Cove Mill processed 79,758 tonnes during Q1 2019, a 27% reduction compared to Q1 2018 due to lower mill availability resulting from planned maintenance activities on the main ball mill, unplanned maintenance of the regrind mill, and the decision to accelerate other maintenance programs to minimize future down time. The regrind mill was back in operation during the first week of April and the Company expects normal mill operations for the remainder of the year. • In February 2019, the Company announced the results of a 3,434-metre drill program that began in November 2018, which included drilling around the Pine Cove and Stog'er Tight mines, successfully infilling and extending mineralization near the margins of the existing pit outlines at both sites. • The Company continues infill drilling at the Argyle Deposit, with the initial 525 metres in the western portion of the deposit intersecting approximately the same thickness of previous drilling in this area but with approximately 25% higher grades. • In March 2019, the Company executed a $5 million term loan with the Royal Bank of Canada ("RBC") with a two-year term and 4.6% interest rate, to provide enhanced financial flexibility and to complete all pre-construction activity at its 100%-owned Goldboro Gold Project in Nova Scotia ("Goldboro"). • As at March 31, 2019, the Company had a cash balance of $10.7 million, preliminary working capital1 of $4.3 million, and additional available liquidity of $1,000,000 from an undrawn revolving line of credit facility.
a topic posted TAJ UDDIN AHAMED in Running a business (offshore inc., finances, legal, etc.)Gold is among the most costly in addition to wanted metals in the world. From coins to jewelry, gold has been utilized in numerous ways over many centuries. In some countries, gold is considered advantageous. In times of financial instability and when stock markets seem to be taking the plunge, the only investment that has not been disturbed by the recession and other economic issues is a gold investment. As a result, a growing number of individuals are choosing gold investment to prevent any financial insecurity shortly. There are plenty of factors for gold investment however here are a few of the top ones: Value: One of the main reasons why professionals recommend gold investment is since it does not lose its value every day unlike currencies. Precisely what the majority of individuals have recognized is that as soon as all the gold in the world is gone, there will be no alternative metal to replace it. Worldwide Acceptable: One of the significant points about gold investment is that you can buy gold from just about anywhere in the world. Not only purchasing, but the acceptability of gold is also extremely high. In fact, gold is appropriate in any location or country on the planet, that makes it a comfy investment choice. Economy: Gold is a crucial driver of the world economy. Many developing and developed countries in the world have their share of gold, which provides a nation with financial security and helps them to manage economic declines. This implies that gold investment is one of the very best financial investments you can have and it can be moved from one generation to another with no problem. Economic downturn: The world just went through a period of financial crisis, and it is not entirely over. Governments might have collapsed; economies would have crashed if there was no gold. It is the gold that countries have in their reserve that bails out economies from crisis circumstances. Portfolio: One of the essential elements of having an investment portfolio is that it needs to be diversified from time to time. Given that the prices of gold are somewhat stable in comparison to the stock market or mutual funds having it on your portfolio will offer you with something to fall back on. Gold investment is lucrative and provides some benefits, and thus it is ending up being a popular investment option in the United States and other nations in Europe. Inflation: One of the main reasons for gold investment is that it will conserve your investment portfolio from the increase. Both gold and silver have always been versatile investments, unlike stocks. Secondly, there are some ways of purchasing gold like gold coins, gold bullion, ETF's, gold exchange and much more. In times of economic instability and when stock markets appear to be taking the plunge, the only investment that has not been disrupted by the recession and other financial issues is a gold investment. Value: One of the primary reasons why experts recommend invest in gold is because it does not lose its worth daily, unlike currencies. Worldwide Acceptable: One of the prominent points about gold investment is that you can buy gold from just about anywhere in the world. Gold investment is rewarding and provides some advantages, and for this reason, it is ending up being a trendy investment option in the US and other nations in Europe.