Anaconda Mining 

Website: www.anacondamining.com
Primary ticker: TSX:ANX; OTCQX:ANXGF
Stage of development: Exploration, Production, Development
Primary minerals: Gold
Project to promote: Goldboro Gold Project, Nova Scotia

Live financials

Anaconda Mining Inc. is a TSX-listed gold producer operating in the Atlantic Canadian jurisdictions of Newfoundland and Nova Scotia. Anaconda has been generating cash flow for 9 consecutive years and aims to grow production to 100,000 ounces of gold in 3-5 years.

The Company owns and operates the Point Rousse Project located in the Baie Verte Mining District in Newfoundland, comprised of the Pine Cove open pit mine, the fully-permitted Pine Cove Mill and tailings facility, the Stog’er Tight deposit, and a new discovery called Argyle. Anaconda has 5,800 hectares of prospective gold-bearing property in Newfoundland. In Nova Scotia, Anaconda is developing the recently acquired Goldboro Gold Project which has a high-grade Mineral Resource. The company aims to deliver an updated mineral resource and feasibility study for Goldboro in 2019.

Management Profile

Kevin Bullock, CEO& Director

CEO& Director, Mr. Bullock is a registered Professional Mining Engineer in the province of Ontario. Mr. Bullock was Volta Resources Inc.’s President and CEO and was the founding President and CEO of Goldcrest (a Volta predecessor company) since its inception in 2002. Mr. Bullock was instrumental in the growth of Volta from a shell company through to the ultimate sale of the company to B2Gold at the end of 2013. Mr. Bullock has over 30 years of experience, at senior levels, in mining exploration, mine development, mine operations and capital markets. Throughout his career, Mr. Bullock has been involved in projects from inception through exploration to development and production. Mr. Bullock was most recently the CEO of Mako Mining Corp. and is currently a director of B2Gold. Mr. Bullock has also worked for Kirkland Lake Gold and Iamgold Corporation.

Dustin Angelo, President & Director

Mr. Angelo has extensive operating and financial experience in the mining industry, including gold, coal and aggregates, and is a Certified Public Accountant, licensed in the United States. He has been president (former CEO until Mar 2019) of Anaconda Mining, a Toronto Stock Exchange listed gold mining company, since September 2010, and has been a director since November 2009. Under his leadership, Anaconda has grown its footprint in Newfoundland, expanded its operations to Nova Scotia, cleaned up the balance sheet and built a sustainable, profitable company that is a responsible member of the community. Prior to joining the Anaconda team, Mr. Angelo served as CFO of Elgin Mining Inc. (formerly known as Phoenix Coal Inc., a TSX-listed resource company) where he was integral in the growth of the organization from a private enterprise to a publicly-listed company from August 2006 to November 2010; as vice-president of MHI Energy Partners (an energy-focussed private equity fund) from 2005 to 2006, and; as a Principal at New York City’s Waller Capital Corporation (a boutique investment bank focussed on mergers and acquisitions) from 1997 to 2005. He was also a founding member and director of North American Limestone Corporation (a private developer and operator of limestone quarries in the United States). Mr. Angelo earned a BSBA in Accounting and International Business from Georgetown University and a MBA from the Columbia Business School.


What is your rationale for attending 121 Mining Investment?

Introduce the company to new investors looking for a pure gold producer with cash flow and growth and robust project economics in a stable jurisdiction.

What recent news would you like to highlight to investors attending?

APR 11, 2019
Anaconda Mining Sells 5,251 Ounces of Gold In Q1 2019, Generating $8.8m in Revenue

APR 4, 2019
Anaconda Mining Intersects 42.85 g/t Gold Over 3.8 Metres and 9.83 g/t Gold Over 3.5 Metres at Goldboro.

APR 3, 2019
Anaconda Mining Strengthens Executive Management Team
Anaconda Mining Inc. is pleased to announce that Kevin Bullock has joined the Company as Chief Executive Officer, effective immediately.

MAR 12, 2019
Anaconda Mining Announces $5 Million Term Loan with Royal Bank of Canada
Anaconda Mining Inc.

MAR 1, 2019
Anaconda Mining Intersects 59.39 G/t Gold Over 7.0 Metres And 6.17 G/t Over 8.0 Metres at Argyle; Provides Infill Drilling and Development Update

What are your key goals for the next 3, 6 and 12 months?

3 Months:

Bring attention to new management team and it’s pathway to achieving a higher valuation for shareholders in the next 12 months.

6 Months:

Continue growing production and cash flow from Point Rousse. Deliver the Goldboro bulk-sample and updated resource – expect a re-rate.

12 Months:

Deliver the Feasibility study and seek project financing coming into 2020.

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Atlantic Canada is a lesser known jurisdiction for gold mining as it has been capital starved for decades. The company has now embarked on actively telling its story to capital market participants and expects a solid re-rate given the upcoming milestones and current valuation.

What do you think makes your company such a compelling investment?

A proven management team that has delivered robust shareholder returns through sale of two previous companies to B2 Gold and KL Gold before joining Anaconda . Anaconda Mining is a growth company with multiple high-grade gold projects in a stable jurisdiction with visible growth.