PHOENIX, Aug. 13, 2018 (GLOBE NEWSWIRE) -- Anaconda Mining Inc. (TSX:ANX) (OTCQX:ANXGF) (“Anaconda” or the “Company”) announced President, CEO and Director, Dustin Angelo’s interview on Uptick Newswire’s “Stock Day” Podcast.

Everett Jolly invited a very special company for the first time to the “Stock Day” podcast and said he is “super psyched” about this company. “We’ve only had one other mining company on the show this year that has revenues like this Company.”

With us today is the President, CEO and Director, Dustin Angelo. “Dustin, welcome to the show! Give my listeners a statement about who you are and how you make your money.”

Anaconda Mining has two primary geographic centers of operation – the Baie Verte Peninsula, Newfoundland and Guysborough County, Nova Scotia. It has been mining and producing gold in Newfoundland for about eight years at its flagship asset, the Point Rousse Project, where it has averaged approximately 16,000 ounces of gold and  roughly $25 million in revenue per year. Anaconda also has some exploration properties approximately 50 kilometers east of Point Rousse in the Nugget Pond Horizon, which is an historic area for high-grade gold production.

Down in Nova Scotia, it has a project, the Goldboro Gold Project, which it acquired in May 2017. It’s in development and looking to be in pre-production by 2020 and commercial production by 2021 at an average rate of approximately 41,000 ounces annually. In addition, Anaconda has been doing a lot of drilling to expand the deposit, recently completing 12,000 meters and just starting another 10,000 meters.

So, combining everything, the Company is looking at a high production growth trajectory, trying to reach 50-60,000 ounces per year in about three years. Anaconda’s current focus is in these areas, but it’s also looking for additional projects to propel it to 100,000 ounces of gold production per year. Angelo feels the Company is pretty well-positioned to accomplish that.

He indicated that they have a tremendous team that has been working together for a long time and has a lot of experience in Atlantic Canada including engineering, geology, operations, as well as governmental permitting. Angelo said that means Anaconda has the puzzle pieces in place as an operating company, and the platform with its infrastructure and track record. He’s planning to grow that.

Jolly said the Company came onto his radar about three months ago and he likes the metrics. “Your market cap’s about $23 million. You guys’ll probably finish up the year somewhere around $30 million in revenues. You just did your second quarter revenues of $7.4 million. Cash flow, that was $2.9 million. What project did the 4,303 ounces come out of?”

Angelo responded that that came from the Point Rousse Project in Newfoundland. “Yeah, you’re right, some of the numbers – we’re pushing in Canadian dollars close to $30 million in revenue this year. Our market cap in U.S. dollars is probably around the low 20s, but more in the mid-30s in Canadian dollars. We operate in Canadian dollars, so we always think that way. Yeah, so, no matter how you look at it, it’s a company that’s cash-flowed very well for many, many years.” Angelo continued that it has never had to raise money to fund its working capital. What Anaconda has raised the last couple of years has all been for growth capital.

Jolly asked about the Company’s growth strategy and Angelo said that it is focused on Atlantic Canada because it sees the region as being ripe for consolidation. He feels that Anaconda has the competitive advantage to go out there and consolidate because it’s established with the infrastructure and because it’s been in production for over eight years. Anaconda has the resources to leverage its knowledge and look for projects that are currently under the radar, but that can ultimately build revenue.

Jolly said, “In closing this up, what do you think the catalyst will be for your stock for the next 6 or 12 months?”

Angelo indicated that Anaconda recently raised about $4.5 million in flow-through financing in June, so it’s putting that money to work through exploration programs at Goldboro and Point Rousse. The Company also just announced a bulk sample at Goldboro, so that should mean that all the mining and processing should be done by the end of the year and the results will follow thereafter.

Jolly concluded by telling listeners that he believes the Company’s stock is currently undervalued.

For more information about the Company’s financial details, listen to the full interview at the link below:

https://upticknewswire.com/featured-interview-ceo-dustin-angelo-of-anaconda-mining-inc-otc-anxgf/

About Anaconda Mining (TSX:ANX; OTCQX:ANXGF):
Anaconda is a TSX and OTCQX-listed gold mining, development, and exploration company, focused in the prospective Atlantic Canadian jurisdictions of Newfoundland and Nova Scotia. The Company operates the Point Rousse Project located in the Baie Verte Mining District in Newfoundland, comprised of the Stog'er Tight Mine, the Pine Cove open pit mine, the Argyle Mineral Resource, the fully-permitted Pine Cove Mill and tailings facility, deep water port, and approximately 5,800 hectares of prospective gold-bearing property. Anaconda is also developing the Goldboro Project in Nova Scotia, a high-grade Mineral Resource, with the potential to leverage existing infrastructure at the Company's Point Rousse Project.

The Company also has a pipeline of organic growth opportunities, including the Great Northern Project on the Northern Peninsula of Newfoundland and the Tilt Cove Property on the Baie Verte Peninsula, also in Newfoundland.

FOR ADDITIONAL INFORMATION CONTACT:

Safe Harbor Act and Forward-Looking Statements:
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Additional information concerning these and other risk factors are contained in the Company’s most recent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

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