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Anaconda mining q3 results& financial statements - 11/5/2019 10:15:29 AM   
Junior Trader


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Joined: 10/14/2019
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The results are in and it's very nice to look at, another ressourceful year for Anaconda


Operations Overview for the Three Months Ended September 30, 2019

Anaconda sold 4,652 ounces of gold during the third quarter of 2019, generating metal revenue of $8.8 million at an average realized gold price1 of C$1,885 per ounce, and year-to-date has sold 13,057 ounces to generate metal revenue of $23.0 million. As at September 30, 2019, the Company also had over 650 ounces of gold doré inventory, which will be sold in October. In July, the Company revised its guidance to 16,000 to 17,000 ounces of gold in light of the potential expansion opportunities at Pine Cove. The Pine Cove Mine is immediately adjacent to the processing facility and is very well understood geologically and from a mining perspective, limiting technical risk, and requires low capital expenditure to continue production. The decrease in guidance reflects the deferral of the development of the Argyle Deposit into 2020, which is subject to ongoing permitting activities. The Company has now received a Mining Lease for Argyle and has submitted the development and rehabilitation plan for review by the Department of Natural Resources in Newfoundland.
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