Company Updates From Management – Tue 24 Sep, 2019

Anaconda Mining – Updating Q3 Production, Exploration, and a Possible Area Consolidation

On the back of my last interview with Dustin Anglo, President of Anaconda Mining there were a number of questions asking about Q3 production guidance and the possibility of consolidating the area. Dustin joins me to address the questions as well provide some more information on the exploration underway at Tilt Cove and Goldboro.

Click here to visit the Anaconda website and catch up on the recent news we cover in this interview.

Company Updates From Management – Wed 21 Aug, 2019

Anaconda Mining – Diving Into The Q2 Financials and Recapping A Busy July

Anaconda Mining (TSX:ANX & OTCQX: ANXGF) recently released its Q2 financials on the back of which I received a few emails asking for some clarification on the required maintenance. Dustin Angelo, President of Anaconda Mining joined me to address the planned and unplanned maintenance and look ahead to the production estimates for the rest of the year.

We also recap the news events of last month involving Goldboro. The Company acquired new land close to Goldboro, signed a deal with the Native group in the area, and raised money to help continue exploring.

If you have any follow up questions for Dustin or I please email me at Fleck@kereport.com.

Click here to visit the Anaconda website and read over the news releases we dicsuss.

Deal signed to move ahead with cleanup of Anaconda copper mine site

Solutions will be implemented to solve long-standing environmental issues associated with waste dumps left behind at the Anaconda copper mine site after the company of the same name shut down operations in 1978 and following Arimetco’s takeover and abandonment of the site in 1999.

This is according to Quaterra Resources (TSXV: QTA), a Canadian miner that owns the 51-square-mile Yerington copper project, which hosts the Anaconda mine and which is located about 70 miles southeast of Reno, Nevada.

Quaterra announced this week that its wholly-owned subsidiary Singatse Peak Services has partnered with Atlantic Richfield Company -the oil company that merged with Anaconda Copper Mining in 1977- to carry out a state-regulated, privately-funded program that will allow it to complete the remedial actions it has already undertaken under previous orders by the Nevada Division of Environmental Protection and the US Environmental Protection Agency.

This recent agreement is one part of a larger set of agreements being negotiated among Atlantic Richfield, the EPA, NDEP and the Bureau of Land Management, to permanently address the impacts from previous mining activities by Anaconda and Arimetco at Yerington.

In 2018, the EPA signed an agreement that transferred responsibility for remediation of the Yerington mine site from the federal government to Atlantic Richfield Company and the state of Nevada

The program will also allow Singatse Peak to move forward with exploration and development of the site for mining having significantly reduced the risks regarding environmental liabilities associated with past mining prior to its acquisition of the property in 2011.

In detail, Atlantic Richfield will design, build, operate and fund the remedy for the former Arimetco area of the project, known as Operable Unit 8, and will implement a protective remedy based on the standards contemplated in the Comprehensive Environmental Response, Compensation, and Liability Act or Superfund.

The remediation plan involves capping former heap leach pads, constructing new ponds to handle runoff, installing a site-wide stormwater management system, closing aging fluid management ponds, re-contouring the area with more natural features, implementing measures for groundwater contamination, and disposing of former mine infrastructure.

The work is targeted for completion by 2029 and does not preclude ongoing exploration and mine development during this time period.

Once the remediation is completed, Singatse Peak plans to consolidate its land position at Yerington with the possible conversion of certain Bureau of Land Management mining claims into private land transferred to the company at nominal cost without attached liability for previous mining activity.

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YMP launches 10 more scholarships totalling $44K, including inaugural Northern Miner scholarship

The Young Mining Professionals (YMP) is bumping up its YMP Scholarship Fund for the 2019-20 academic year for students in mining-related university programs in Canada.

The YMP Scholarship Fund is a a registered charity that donates 100% of its receipts to students via this scholarship program, and is eligible to offer tax receipts to its donors. These latest scholarships are being funded by Barrick Gold (TSX: ABX; NYSE: GOLD), Agnico Eagle Mines (TSX: AEM; NYSE: AEM), Iamgold (TSX: IMG; NYSE: IAG), Yamana Gold (TSX: YRI; NYSE: AUY), Anaconda Mining(TSX: ANX), The Northern Miner and Orefinders Resources (TSXV: ORX).

The 2019 YMP Scholarship Fund includes:

The Peter Munk Scholarship — A $10,000 scholarship in partnership with Barrick Gold as well as an interview for an internship with Barrick will be awarded to a student who embodies Peter Munk’s entrepreneurial spirit. Well-qualified post-secondary students in mining-related college programs will also be considered

The Agnico Eagle Perseverance/Kajussissimainarniq Scholarship — A $10,000 scholarship in partnership with Agnico Eagle Mines as well as an interview for an internship with Agnico will be awarded to a Nunavut Inuit student pursuing a career in mining.

Orefinders Mining Innovation Scholarship — A $4,000 scholarship in partnership with Orefinders Resources to an exceptional Canadian university student who demonstrates the vision for change in the mining industry via an innovative technical solution.

The Woman in Mining Scholarship sponsored by Iamgold — One $4,000 and one $1,000 scholarship funded by Iamgold will be provided to two exceptional women enrolled in mining-related programs via an innovative one-page creation.

The Student in Mining Scholarship sponsored by Yamana Gold — One $4,000 and one $1,000 scholarship funded by Yamana will be provided to two extraordinary aspiring industry professionals enrolled in mining-related programs via an innovative one-page creation.

The Atlantic Canadian Student in Mining Scholarship sponsored by Anaconda Mining — One $4,000 scholarship funded by Anaconda Mining will be provided to a tech-savvy student of mining who makes an impressive prediction for the future.

The Northern Miner Scholarship $5,000 scholarship — funded by The Northern Miner to an individual with a vision for the future and a passion for putting pen to paper. The best submitted essay will have an opportunity to be published in an issue of The Northern Miner.

Scholarships will be awarded to students who are pursuing a career in the mining industry and are enrolled in mining-related programs (earth sciences, mining engineering, etc.) for the 2019-20 academic year at Canadian universities. Well-qualified post-secondary students in mining-related college programs will also be considered.

The deadline to apply for all scholarships is Aug. 31, 2019, with the winners announced on Sept. 30, 2019.

Each scholarship requires individual applications, and YMP says that “applicants will be considered based on their academic achievement, their extracurricular involvement, and their submissions demonstrating their creativity, perseverance, innovative ideas and commitment to a career in mining.”

The YMP further comments: “A strong entrepreneurial spirit is needed in Canada’s exploration and mining industries, and these scholarships recognize the qualities that are integral to developing mines and building mining and exploration companies.”

For more information on the scholarships, click here. 

Individuals or corporations who would like to support or create a scholarship can contact YMP at toronto@youngminingprofessionals.com.

YMP is a growing association of mostly under-40 mining professionals with chapters in Vancouver, Toronto, Sudbury, Montreal, London, U.K., Perth, Brisbane and Johannesburg.

The YMP’s role, it says, is to assist participants in obtaining the skills, support and knowledge to successfully advance their careers, develop a network of contacts within the industry and identify career and mining-related investment opportunities. YMP facilitates these objectives through networking, social events and guest speaker events.

(This story first appeared in The Northern Miner)

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Company Updates From Management – Mon 6 May, 2019

Anaconda Mining – Updates On Q1 Positive Cash Flow and High Grade Drill Results From The Argle Deposit

Anaconda Mining had another good quarter of production generating $4.1million in cash flow on the back on low cost production production and slightly higher grade mined. There is also ongoing drilling with some recent results from the Argle deposit.

Dustin Angelo, Anaconda’s President joins me to share some more information on the Q1 production and cash flow numbers. We also look ahead to future quarters and how the Company can reproduce that cash flow and growth. In terms of the drilling we recap the Argle results and also look to the other projects that will have drilling throughout the year.

Click here to visit the Anaconda website for a full recap on the news.

Anaconda Mining cuts 12.76 g/t over 6 metres at Argyle

Toronto-based Anaconda Mining is conducting an infill drilling program at its Argyle gold deposit located about 4.5 km from its Pine Cove mill and tailings facility at the Point Rousse project. Chief executive Kevin Bullock noted in a release that the grade and thickness continuity has been confirmed near the surface.

Highlights from the eastern part of the Argyle infill program:

  • Hole AE-19-122: 76 g/t gold over 6.0 metres(46.0 to 52.0 metres), including 48.30 g/t gold over 1.0 metres;
  • Hole AE-19-131: 2.69 g/t gold over 10.0 metres (50.0 to 60.0 metres);
  • Hole AE-19-119: 4.83 g/t gold over 5.0 metres (48.0 to 53.0 metres); and
  • Hole AE-19-121: 4.94 g/t gold over 8.0 metres(45.0 to 53.0 metres).

These and other drill results will be used to update the open pit mining plan and assist in planning.

The Argyle deposit has indicated resources of 543,000 tonnes grading 2.19 g/t gold for 38,300 oz. The inferred resources are 517,000 tonnes at 1.82 g/t gold for 30,300 oz. of contained gold. A 12-g/t capping factor was applied to these results.

Anaconda said the metallurgical tests for Argyle are complete and the project has been released from further environmental assessment. According to its website, the company was expecting to receive the mining, construction and milling permits in March 2019.

(This article first appeared in the Canadian Mining Journal)

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Company Updates From Management – Fri 12 Apr, 2019

Anaconda Mining – Updates On Management Additions, High Grade Goldboro Drill Results, and Q1 Production Numbers

Anaconda Mining (TSX:ANX & OTCQX: ANXGF) has been busy so far this month releasing news on a wide range of Company advancements. Dustin Angelo, Anaconda President joins me to outline the management addition of Kevin Bullock, share some more details on the recent Goldboro drill results (with a headline number of 42.85g/t over 3.8 meters), and Q1 production results.

Please email me with any further questions or comment from Dustin and his team – Fleck@kereport.com.

Click here to visit the Anaconda news section to review all the recent news that we discussed.

Appointment notices: Anaconda Mining, Champion Iron, Detour Gold, Nickel One, and Superior Gold

Toronto’s Anaconda Mining has boosted its management team with the appointment of Kevin Bullock as CEO. With more than 30 years of capital markets and senior mining experience, he was a founder of Volta Resources. Dustin Angelo will retain the title of company president.

Champion Iron of Montreal has named David Cataford its CEO. He joined the company in 2014 as VP engineering and was named COO in 2017. Michael O’Keefe will remain executive chairman of the board.

Michael McMullen will be the next CEO of Detour Gold Corp. in Toronto, effective May 1, 2019. He has an accomplished background in all aspects of the mining business and has managed multiple operations (open pit and underground) across multiple jurisdictions. His experience covers a range of commodities, including copper, gold, iron ore and platinum group metals.

Vancouver-based Nickel One has a new president and CEO, Derrick Weyrauch. He will be joined on the board by Lawrence Roulston. Both men are experienced mining professionals with proven abilities to raise capital. Former president and CEO Vance Loeber has resigned. The company announced separately that it intends to change its name to Palladium One Mining.

Superior Gold of Toronto has named Keith Boyle as COO. He has worked for both senior and junior companies with interests in precious and base metals systems, at both open pit and underground operations in North America and internationally, including an extended period in Australia and Papua New Guinea.

(This article first appeared in the Canadian Mining Journal)

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Anaconda preps for feasibility at Goldboro

New assays from four holes Anaconda Mining (TSX: ANX) drilled as part of its metallurgical drill program at its Goldboro gold project in Nova Scotia confirm the continuity of several high grade zones over as much as 40 metres.

The drilling focused on the project’s EG gold system. Highlights from the program include 42.85 grams gold over 3.8 metres from 66 metres downhole including 316.76 grams gold over 0.5 metres as well as 9.83 gram gold over 3.5 metres from 81 metres downhole including 58.31 grams gold over 0.5 metres.

Newly appointed CEO Kevin Bullock said in a prepared statement that the new results “provide confidence in the existing resource” and “provide the necessary samples to advance metallurgical testing to support a feasibility study at Goldboro.”

Bullock recently took over as CEO from Dustin Angelo, who will remain Anaconda’s president, and focus on operations as well as “ancillary business opportunities.”

The company is drilling an additional 5,000 metres at EG to both expand the deposit and infill certain sections. It will table an updated resource estimate for Goldboro by 2019’s third quarter.

Goldboro currently contains 3.7 million measured and indicated tonnes grading 4.96 grams gold for 602,700 oz. gold as well as 2.1 million inferred tonnes at 6.63 grams gold for 453,200 oz. gold.

As of a 2018 preliminary economic assignment, the project has a $76 million after-tax net present value at a 7% discount rate and a 29% after-tax internal rate of return.

(This article first appeared in The Northern Miner)

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Anaconda arranges $5m loan for work at Goldboro

Toronto-based Anaconda Mining has arranged a $5 million term loan from the Royal Bank of Canada. This will allow the company to complete all pre-construction work at its Goldboro gold project 175 km northeast of Halifax. No further equity financing is anticipated.

Anaconda expects to complete the Goldboro feasibility study this year. At the same time it will complete the work required to obtain mining permits. Hopefully, the project will be shovel ready early in 2020.

The company tabled an updated Goldboro resource estimate in October 2018 The estimate totaled 3.7 million measured and indicated tonnes grading 4.96 g/t gold for 602,700 oz. of gold. The project also contains 2.1 million inferred tonnes at 6.63 g/t gold for 453,200 oz. of gold. The estimate is inclusive of both open pit and underground mineralization.

This article first appeared in the Canadian Mining Journal.

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