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rose0531

Gold Mining Stocks Are Getting Cheap Investments

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1 Refer to Non-IFRS Measures Section below.

"Anaconda is off to a good start in 2019 with over 5,200 ounces of gold sold and the mining operations at its Point Rousse Project achieving strong results at the Stog'er Tight Mine, where we achieved higher than planned ore tonnes and established a robust ore stockpile of over 30,000 tonnes to end the quarter. The delay in the shipment of trunnion liners and unplanned maintenance for the regrind mill at the Pine Cove Mill, combined with the planned maintenance on the primary ball mill, impacted mill availability in March, and the Company took the opportunity to advance various maintenance programs and make other mechanical improvements in the mill. While the resulting lower throughput rate marginally impacted quarterly gold production from a timing perspective we have greatly improved asset reliability and efficiency going forward. The Pine Cove Mill was back running during the first week of April and the Company continues on track to produce and sell between 19,000 and 20,000 ounces of gold from its Point Rousse Project in 2019."

~ Kevin Bullock, CEO, Anaconda Mining Inc.

First Quarter Operating Statistics

Three months ended

March 31, 2019 Three months ended

March 31, 2018

Mine Statistics

Ore production (tonnes) 77,367 143,840

Waste production (tonnes) 279,412 250,132

Total material moved (tonnes) 356,779 393,972

Waste: Ore ratio 3.6 1.7

 

Mill Statistics

Availability (%) 78.1 93.4

Dry tonnes processed 79,758 109,219

Tonnes per day 1,135 1,300

Grade (grams per tonne) 1.92 1.44

Recovery (%) 84.8 85.2

Gold Ounces Produced 4,176 4,293

Gold Ounces Sold 5,251 4,526

 

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