From The Desk Of David Schectman
|
|
|
|
|
|
|
|
|
|
|
Proven ProbableAuthor: admin
Toronto, Ontario and Vancouver, British Columbia–(Newsfile Corp. – February 27, 2019) – Minera Alamos Inc. (TSXV: MAI) (“Minera” or the “Company”) cordially invites you to visit with Company representatives on Sunday, March 3rdand Monday, March 4th at Booth #2423A within the Investors Exchange at the 2019 Prospectors & Developers Association of Canada (PDAC) Convention to be held at the Metro Toronto Convention Centre.
The Red Cloud 2019 Pre-PDAC Mining Showcase will be held on Friday, March 1 at the Omni King Edward Hotel. Minera will have a company display and will also be meeting with the investment community throughout the day.
Minera looks forward to updating shareholders and conference attendees on its exploration and development plans for 2019, following the notice of approval of permits at the La Fortuna gold project, Durango, Mexico and pending permits at the Santana gold project, Sonora, Mexico.
For more information and/or to register for the conference please visit:
https://www.pdac.ca/convention
For Further Information Please Contact:
Minera Alamos Inc.
Doug Ramshaw, President
Tel: 604-600-4423
Email: dramshaw@mineraalamos.com
Website: www.mineraalamos.com
About Minera Alamos Inc.
Minera Alamos is an advanced-stage exploration and development company with a growing portfolio of high-quality Mexican assets, including the La Fortuna open-pit gold project in Durango with positive PEA completed, the Santana open-pit heap-leach development project in Sonora with test mining and processing completed and the Guadalupe de Los Reyes open-pit gold-silver project in Sinaloa with mine planning in progress.
The Company’s strategy is to develop low capex assets while expanding the project resources and pursue complementary strategic acquisitions.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43087
Bob Moriarty
Archives
Feb 26, 2019
A young and newly listed junior with a very interesting gold project nearYellowknife contacted me recently. It’s an interesting company with a historic resource of 85,000 ounces of gold at a grade of 12 g/t, almost $1 million in the bank and a total market cap of under $3 million. They are hard at work doing the groundwork necessary before beginning a drill program.
The company is named Rover Metals (ROVR-V) and they just added their US symbol. The gold is associated with an Archean age iron formation. As Quinton Hennigh has written about in a number of papers, the vast majority of gold on earth comes from Archean age deposits. Gold and iron get along well and you often find them together or nearby. We know that the iron precipitated out of salt water and if that is so, why would gold be any different?
It’s in a target rich environment at Cabin Lake just 110 km northwest of the7 million ounce Giant Gold Mine in Yellowknife and near an all season road scheduled for completion in 2020.
Rover is one of those microcap stocks that will benefit the most from an ongoing bull market in resources. They have money in the bank, a high grade resource of sorts and a tiny market cap. The projects have some exploration results going back over 70 years but could benefit from modern exploration techniques. The price of shares can go up but it’s pretty hard to see how it can go down. Obviously they need to get drilling and start releasing results but in time that will come.
Rover is an advertiser, I have bought shares in the open market and I am biased. For more information on the company you can view their fact sheetand investor presentation.
Rover Metals Corp.
ROVR-V $.06 (Feb 25, 2019)
ROVMF-OTCBB 47.4 million shares
Rover Metals Website
###
Bob Moriarty
President: 321gold
Archives
321gold Ltd
I recently got a copy and read Bob Moriarty’s new book called “Basic Investing in Resource Stocks: The Idiot’s Guide”, and thought I would do a quick review…
The book covers everything from the current state of the world, the metals, the different kinds of resource companies, how to go about investing and what tools that are important to use. It was an easy book to read, and I as a resource stock investor, really liked the content for a couple of reasons;
First (and most importantly) of all, this is not a “feel good book” that says a bunch of stuff, but at the same time, says nothing concrete at all. It’s a pragmatic one, written by a long term resource company investor. Bob has been in this business for a long time and has seen it all. He has seen the ups and downs of commodity cycles, and he has run across all types of people and companies. He knows all the shady tricks and all the pitfalls that most of us will have fallen into, on our way to (hopefully) enlightenment.
Bob explains key concepts with the help of anecdotes and real life examples, which makes them easier to understand, and will hopefully come in handy when the reader comes across different subjects in the future (like counter party risk).
While reading it, I made sure to copy/paste some key quotes into a word document, that I (especially) thought were important to always keep in the back of my head. Well, that document ended up being about five pages long, and that’s excluding Bob’s two lists with words of wisdom, where he synthesizes the main take aways.
Anyhow, I thought it would be a good idea to mention a few of the quotes that I had saved, and perhaps add on a few comments of my own. So I asked him for permission to do so and got this response:
“Any way you wish. The whole purpose of the book is to help investors. Anything that broadens their education is fine with me.
– Bob”
Suffice it to say, Bob would really like to see better informed investors. Better informed investors leads to more money in the hands of investors, more capital for honest and good companies, and less money in the hands of crooks (or “lifestyle companies” as Bob calls it)… A win-win-win.
Now, lets look at some of the many quotes:
“Someone has to pay for every mistake in one form or another, and it will be a lot cheaper for you if you listen as I explain how foolish I have been.”
… This is the reason why I never throw away books. They contain synthesized knowledge based on decades of experience and research. It’s good to make mistakes when you also learn from them, but it’s of course way more costly than learning from others mistakes. The key is to really understand what and why something went wrong though. If you make a mistake yourself, you will probably have a painful memory that reminds you not to “do that again”, but learning from others means you really have to hammer in the essence of said mistake.
“There is one thing I should include here: the basic liquidity of the market is an indication of where you are. At market bottoms you can’t give shares away; at tops, the market has total liquidity. So if you can sell shares easily, that is often a great indication of when to sell”
… This is an important concept to internalize; If there are no buyers, there is no greed, and possibly even big discounts in place. If a stock is doing well and there are tonnes of bids, then you know that you are not the first one in. With that said, this is more of a swing tactic to use when nothing has changed for a company on a fundamental basis, since there will of course always be bids if a company that just released company making news (That will take at least some time to be reflected in the share price).
“I’m going to show you how to do it, but you have to discard almost all of what you think you know. You have to learn the basics of investing that no one has ever bothered teaching you. You know how to add. You know how to read. You probably have some special skill that someone is willing to pay you for doing well. But as far as I know, there are no classes on how to invest, and if you are to profit, you have to know the basics.”
… This points out the fact that there is no class or golden formula out there that will allow you to beat the market. Believe me, I have taken finance and economics classes, and pretty much the only concepts that stuck and was worth its salt was “NPV” and “Opportunity Cost”, but nothing really to prepare me for investing in the resource sector.
“I don’t make any money because I am so smart; I get all my profit because other people are so foolish.”
… He points out that he has not done well for himself because of his smarts, but rather by not being foolish, unlike the herd. Human psychology is the enemy, and one must learn how to fight ones impulses, like fear and greed. Common sense and avoiding pit falls is the name of the game, so limit the costly mistakes that the majority will make, and most of the battle will be won already… Easier said than done of course(!)
“What I’m trying to say is that investing in juniors and making a profit has far
more to do with timing than with the commodity, the management, or country risk.
Those factors are all interesting but the phase of the investment cycle as measured
by sentiment is far more important.”
… This was a gruesome lesson to learn for me personally, but market psychology (cycles) trumps all. When the cycle is up, everyone allows themselves to price in a rosy future for any company (and they buy accordingly). When the cycle is down, investors instead only focuses on risks and no price seems low enough to price them in (and they sell accordingly). It makes me think of another quote by Bob that goes something like this: “At a bottom, everyone is looking for a reason to sell”.
“As an investor, you must use every possible sentiment indicator you can get
your hands on.”
… the importance of sentiment is something that Bob mentions a lot in this book, and something I am slowly trying to cement in the back of my head. Unloved (for whatever reason) or unknown stocks is what one should look to buy.
“Investment advice and information comes in two flavors, signal and noise. That which is signal gives you potentially valuable information that you can use to make intelligent investment decisions. But noise does little more than confuse the listener. Not everything you hear or read helps you.”
… This is important because there might be bulls, bears, pumpers and/or bashers that harp on about certain things that might be trivial for a company in the grand scheme of things. This is noise vs signal concept also includes daily vs longer term stock movements, as Bob describes it in the book. A stock might go up or down on any given day based on nothing, and should thus be considered noise. Buffet famously mentions that “mr market” is schizophrenic and that he loves to take advantage of short term declines (noise). Suffice it to say, the signal vs noise problem is something that is prevalent from micro (company fundamentals) to macro (trends) and should be something to take into account at all times.
Closing Thoughts
The book covered more subjects than I first thought and is an invaluable source of knowledge for anyone investing in this sector. There are loads of quotes and bullet points that I myself am planning to print out and put up on the wall, since keeping the common (human) pitfalls in mind at all times is a very big step towards beating the market.
You can buy Bob’s new book for $7.49 (Kindle) or $12.99 (Paperback) through my affiliate link HERE or you can buy it HERE for the same price (if you don’t want me to get the few cents in commission.)
(I have not received any payment to write this article. Bob was kind enough to send me a copy for free and I thought it was a good idea to write about the book coupled with some thoughts of my own.)
Best regards,
The Hedgeless Horseman
Follow me on twitter: https://twitter.com/Comm_Invest
Follow me on CEO.ca: https://ceo.ca/@hhorseman
THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
VANCOUVER, British Columbia, Feb. 27, 2019 (GLOBE NEWSWIRE) — Riverside Resources Inc. (the “Company” or “Riverside”) (RRI.V) is pleased to announce that the Company has received exceptionally strong investor interest and intends to increase its previously announced non-brokered private placement (see press release February 13, 2019) by an additional $800,000. Riverside now plans to raise up to $2,300,000 in gross proceeds from the issuance of 14,375,000 units at a purchase price of $0.16, up from the original $1,500,000 target.
Each unit consists of one common share and one whole common share purchase warrant (“Unit”). Each common share purchase warrant is exercisable into one common share for a period of two (2) years from closing at a price of $0.22 (“Warrant”). If, at any time after four months following the closing of the private placement, the closing price of the common shares on the TSX Venture Exchange (“TSX-V”) trades at a VWAP equal or greater than $0.45 for 10 consecutive trading days, the Company may accelerate the expiry date of the Warrants by disseminating a press release announcing the new expiry date whereupon the Warrants will expire on the 30th trading day after the date on which such press release is disseminated.
The Company will use the proceeds of the financing to fund a focused drill program at the Cecilia Gold Project, additional project acquisitions and further target refinement on existing projects to advance towards new partnerships. The Company may pay finders fees in cash or Units to qualified finders of up to 8.0% of the aggregate gross proceeds realized from subscribers identified by the finder. The closing of the private placement is subject to TSX-V approval.
The securities being offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons without United States federal and state registration or an applicable exemption from registration requirements.
About Riverside Resources Inc.:
Riverside is an exploration company driven by value generation and discovery. The Company has 45M shares issued and a strong portfolio of gold-silver and copper assets in North America. Riverside has extensive experience and knowledge operating in Mexico and leverages its large database to generate a portfolio of prospective mineral properties. In addition to Riverside’s own exploration spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has additional properties available for option, with more information available on the Company’s website at www.rivres.com.
ON BEHALF OF RIVERSIDE RESOURCES INC.
“John-Mark Staude”
Dr. John-Mark Staude, President & CEO
For additional information contact:
| John-Mark Staude President, CEO Riverside Resources Inc. info@rivres.com Phone: (778) 327-6671 Fax: (778) 327-6675 Web: www.rivres.com |
Raffi Elmajian Corporate Communications Riverside Resources Inc. relmajian@rivres.com Phone: (778) 327-6671 ext. 312 TF: (877) RIV-RES1 ext. 312 Web: www.rivres.com |
Certain statements in this press release may be considered forward-looking information. These statements can be identified by the use of forward looking terminology (e.g., “expect”, “estimates”, “intends”, “anticipates”, “believes”, “plans”). Such information involves known and unknown risks — including the availability of funds, the results of financing and exploration activities, the interpretation of exploration results and other geological data, or unanticipated costs and expenses and other risks identified by Riverside in its public securities filings that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Toronto, Ontario–(Newsfile Corp. – February 26, 2019) – Minera Alamos Inc. (TSXV: MAI) (OTC Pink: MAIFF) (the “Company” or “Minera Alamos“) is pleased to announce that it is undertaking a non-brokered private placement offering for aggregate proceeds of up to C$5 million (the “Offering“).
Pursuant to the Offering, the Company may issue an aggregate of up to 50,000,000 common shares (the “Shares“) at a price of CDN$0.10 per Share (the “Offering Price“). There are no warrants being issued as part of this offering. All shares issued under the Offering will be subject to a four month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.
The closing of the Offering is expected to occur on or about March 1, 2019 and remains subject to receipt of all necessary regulatory approvals including acceptance for filing by the TSX Venture Exchange. A finder’s fee may be paid by the Company in the form of a 6% cash fee and the issuance of finder’s warrants (the “Finder’s Warrants“) in an amount equal to 6% of the Shares placed with subscribers introduced by any finder under the Offering. The Finder’s Warrants will each be exercisable for one Share at the Offering Price for a period of two years following the closing of the Offering.
About Minera Alamos
Minera Alamos is an advanced-stage exploration and development company with a growing portfolio of high-quality Mexican assets, including the La Fortuna open-pit gold project in Durango with positive PEA completed, the Santana open-pit heapleach development project in Sonora with test mining and processing completed and the Guadalupe de Los Reyes open-pit gold-silver project in Sinaloa with mine planning in progress. The Company is awaiting the pending approval of permit applications related to the commercial production of gold at both the Santana and Fortuna projects.
The Company’s strategy is to develop low capex assets while expanding the project resources and pursue complementary strategic acquisitions.
Mr. Darren Koningen, P. Eng., Minera Alamos’ CEO, is the Qualified Person responsible for the technical content of this press release under National Instrument 43-101. Mr. Koningen has supervised the preparation of, and approved the scientific and technical disclosures in this news release.
CONTACT INFORMATION:
Minera Alamos Inc
Doug Ramshaw, President
604-600-4423
dramshaw@mineraalamos.com
Caution Regarding Forward-Looking Statements
This news release may contain forward-looking information and Minera Alamos cautions readers that forward-looking information is based on certain assumptions and risk factors that could cause actual results to differ materially from the expectations of Minera Alamos included in this news release. This news release includes certain “forward-looking statements”, which often, but not always, can be identified by the use of words such as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. These statements are based on information currently available to Minera Alamos and Minera Alamos provides no assurance that actual results will meet management’s expectations. Forward-looking statements include estimates and statements with respect to Minera Alamos’ future plans, objectives or goals, to the effect that Minera Alamos or management expects a stated condition or result to occur and the expected timing. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Such statements reflect the Company’s current views with respect to future events based on certain material factors and assumptions and are subject to certain risks and uncertainties, including without limitation, changes in market, competition, governmental or regulatory developments, general economic conditions and other factors set out in the Company’s public disclosure documents. Many factors could cause the Company’s actual results, performance or achievements to vary from those described in this news release, including without limitation those listed above. This list is not exhaustive of the factors that may affect any of Minera Alamos’ forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Minera Alamos’ forward-looking statements. Minera Alamos does not undertake to update any forward-looking statement that may be made from time to time by Minera Alamos or on its behalf, except in accordance with applicable securities laws.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S.A. NEWSWIRES
Corporate Logo
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43057
VANCOUVER , Feb. 26, 2019 /CNW/ – Pacton Gold Inc. (TSXV: PAC, OTC: PACXF) (the “Company” or “Pacton“) is pleased to announce that it has entered into an acquisition agreement with Frontline Gold Corporation (FGC.V) to acquire additional mineral claims in the Red Lake District, Ontario (the “Property“). These additional mineral claims are located contiguous and to the north of Pacton’s current landholdings and extend to within 3 km of Goldcorp’s newest #3 production shaft. The Property includes limited historical diamond drilling, including an intersection of 24 g/t Au over 1.0 m completed by SkyHarbour Resources in 2003. With this strategic acquisition, Pacton’s expanded land position overlaps with the prolific Balmer Assemblage, known to host significant high-grade mineralization at Pure Gold’s Madsen mine and GoldCorp’s Red Lake and Campbell mines, historically producing over 20M oz. of gold combined. The Property geology contains the contact between Confederation and Balmer Assemblage rock units as well as folded mafic and ultramafic volcanics with mafic and felsic intrusives also present.
Pacton’s Red Lake mineral claims are strategically located between Pure Gold’s Madsen property, including the Wedge Zone, and Great Bear Resource’s Dixie discovery. The property geology is made up of two key packages known to host significant gold mineralization in the district. The Confederation Assemblage and the Balmer Assemblage host the high-grade gold mineralization at Great Bear Resources’ Dixie Project and Pure Gold’s Madsen property, respectively. A high-resolution helicopter magnetics survey is underway to identify D2 structures and folding that are proposed to have significant control on gold mineralization in the district.
Pacton Gold is currently compiling historical data and formulating plans for exploration work in 2019 to advance the project.
Figure 1. Location map of mineral claims acquired by Pacton Gold (red outline). (CNW Group/Pacton Gold Inc.)
The Company can earn a 100% interest in the Property by:
- completing a heli-mag survey on the Property; and
- issuing an aggregate of 350,000 common shares and paying a total of $100,000 over a period of two years.
The Property is subject to net smelter return royalties of 2.25%. The Company has the option to purchase a portion of the royalties for $250,000 for each 0.25%.
The transaction is subject to the acceptance of the TSX Venture Exchange.
About Pacton Gold
Pacton Gold is a Canadian exploration company with key strategic partners focused on the exploration and development of high grade conglomerate and orogenic gold properties located in the district-scale Pilbara gold rush in Western Australia and the Red Lake District, Ontario .
The technical content of this news release has been reviewed and approved by Peter Caldbick , P.Geo., a director of the Company and a Qualified Person pursuant to National Instrument 43-101.
On Behalf of the Board of Pacton Gold Inc.
R. Dale Ginn
Executive Chairman
This news release may contain or refer to forward-looking information based on current expectations, including, but not limited to the Company achieving success in exploring its properties and the impact on the Company of these events, including the effect on its share price. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise such information to reflect new events or circumstances. References to other issuers with nearby projects is for information purposes only and there are no assurances the Company will achieve similar results.
Neither TSX Venture Exchange, the Toronto Stock Exchange nor their Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cision
View original content to download multimedia:http://www.prnewswire.com/news-releases/pacton-gold-adds-key-land-position-in-red-lake-ontario-300801845.html
SOURCE Pacton Gold Inc.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/February2019/26/c9641.html
TORONTO , Feb. 26, 2019 /CNW/ – Anaconda Mining Inc. (“Anaconda” or the “Company”) – (ANX.TO) (ANXGF) is pleased to provide an update on the development activities at its 100%-owned Goldboro Gold Project (“Goldboro” or the “Project”) in Nova Scotia, Canada . Since publishing the Goldboro preliminary economic assessment (the “PEA”) dated March 2, 2018 and updated on October 25, 2018 , Anaconda has been executing a 10,000-tonne underground bulk sample (the “Bulk Sample”), advancing its evaluation of Goldboro to the feasibility study stage and permitting the Project.
“Less than two years ago, we acquired the Goldboro Gold Project at a tremendous value. In that short period of time, we have produced a positive preliminary economic assessment, registered the project for permitting, completed mining a 10,000-tonne Bulk Sample, and increased the deposit to over 600,000 ounces of Measured and Indicated Resources and over 450,000 ounces of Inferred Resources. We look forward to continued progress in 2019 with the commencement of a feasibility study and the continuation of permitting, with the aim of obtaining the requisite permits to begin construction in 2020.”
~ Dustin Angelo , President and CEO, Anaconda Mining Inc.
Bulk Sample Update
At the end of January 2019 , Anaconda completed the mining phase of the Bulk Sample and the underground mining contractor, Cementation Canada Inc., has demobilized from site. Access to the mine has been secured and site closure activities for the Bulk Sample are scheduled to be completed in the spring. The tonnes extracted for the Bulk Sample came from a combination of development and stoping. A long hole mining method was used to mine three stopes, ranging from one to four metres wide, within belts 1 and 2 of the Boston – Richardson gold system. The stopes tested the use of up-holes and down-holes as well as conventional raising and drop raising. Sill drifts and most of the stope access development was done within mineralized zones of the belts to minimize the amount of waste rock extracted.
The Company intends to barge the material to Point Rousse, Newfoundland , in the second quarter of 2019, once transport conditions are favorable, where the material will be processed at Anaconda’s Pine Cove Mill. The Company will report full Bulk Sample results shortly thereafter.
Commencement of the Goldboro Feasibility Study and Conclusions from Trade-Off Studies
In February 2019 , Anaconda commenced a feasibility study of the Project (the “Study”), which will incorporate the data from the Bulk Sample and include the results of the first 22,000 metres of diamond drilling that was completed from June 2017 to December 2018 . The Company also expects to generate a new mineral resource estimate as part of the Study, which is expected to be completed in Q3 2019. The Company has retained WSP Canada Inc. (“WSP”) to lead the Study and work on the mine design, project infrastructure, and economics. Ausenco Solutions Canada Inc. (“Ausenco”) has also been engaged to support WSP with respect to process optimization and mill design for the Study (Ausenco was involved in the engineering and construction of Atlantic Gold Corporation’s mill at the Moose River Consolidated Project in Nova Scotia ). The Study will also incorporate additional metallurgical testing, performed by Base Metallurgical Laboratories Ltd, based in Kamloops, British Columbia , using samples taken from the Boston – Richardson and East Goldbrook gold systems during the Bulk Sample extraction and recent diamond drilling. The Study is expected to be completed and filed in Q4 2019.
Following the update of the Goldboro Mineral Resource Estimate published in December 2018 , Anaconda initiated certain trade-off studies to determine the optimal mining and milling scenarios for the Study. Given the predominately narrow vein, high-grade nature of the deposit, Anaconda has determined the optimal approach for the Project to be based on the use of selective mining methods at a processing throughput rate of approximately 575 tonnes per day. This confirms the initial mine development and operation scenario contemplated in the PEA, where the Project begins open pit mining for two to three years before transitioning to an underground mining operation for the remaining mine life.
Furthermore, due to the growth of the Mineral Resource Estimate at Goldboro demonstrated from its recent drill programs, and the Company’s confidence in its ability to continue to substantially expand the deposit, Anaconda has optimized its processing strategy for the Study, which will now contemplate a full-scale milling facility at Goldboro that will produce a doré bar. This is different than the processing scenario in the PEA, which was based on shipping concentrate to its Pine Cove Mill in Newfoundland .
Anaconda also evaluated two options for ore processing and processing plant construction: the use of a gravity circuit, followed by concentration of the gravity tails by flotation and gold recovery via leaching; and gravity concentration followed by whole ore leaching. Both options assume a full-scale processing facility at Goldboro , producing a doré bar from gravity and leach concentrates. Anaconda ultimately concluded the preferred scenario to be gravity concentration followed by whole ore leaching, which will be evaluated further as part of the Study.
Permitting Process Update
Since February of 2018, Anaconda has been working through the permitting process in the Province of Nova Scotia , and has engaged the assistance of GHD Limited (“GHD”), who had worked with Atlantic Gold Corporation during its permitting of the Moose River Consolidated Project. In August 2018 , the Company submitted its Environmental Assessment application and is currently compiling further information required by the various regulators in the Terms of the Reference (“TOR”) issued on October 15, 2018 . In addition, the Company has submitted the application for the Crownland Lease and is advancing the applications for a Mineral Lease and Industrial Approval. Based on progress to date and continued communication with relevant government departments and regulators, Anaconda expects to secure all permits by the end of Q1 2020, with the aim of beginning site construction in mid-2020 with commercial production to follow in mid-2021.
A version of this press release will be available in French on Anaconda’s website (www.anacondamining.com) in two to three business days.
ABOUT ANACONDA
Anaconda Mining 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, and approximately 9,150 hectares of prospective gold-bearing property. Anaconda is also developing the Goldboro Gold Project in Nova Scotia , a high-grade Mineral Resource, subject to a 2018 a preliminary economic assessment which demonstrates strong project economics. The Company also has a wholly owned exploration company that is solely focused on early stage exploration in Newfoundland and New Brunswick .
GOLDBORO PROJECT MINERAL RESOURCE UPDATE AND PRELIMINARY ECONOMIC ANALYSIS for Anaconda Mining Inc., dated October 25, 2018 , and authored by independent qualified persons Todd McCracken , P.Geo., Shane Ghouralal , MBA, P.Eng., and Sebastian Bertelegni , P.Eng., all of WSP Canada Inc., J. Dean Thibault , P.Eng., of Thibault & Associates Inc., and non-independent qualified person Gordana Slepcev, P.Eng., of Anaconda.
FORWARD-LOOKING STATEMENTS
This news release contains “forward-looking information” within the meaning of applicable Canadian and United States securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects”, or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “does not anticipate”, or “believes” or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, or “will be taken”, “occur”, or “be achieved”. Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Anaconda to be materially different from those expressed or implied by such forward-looking information, including risks associated with the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current production, development and exploration activities, government regulation, political or economic developments, environmental risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of resources, contests over title to properties, and changes in project parameters as plans continue to be refined as well as those risk factors discussed in the annual information form for the fiscal year ended December 31, 2017 , available on www.sedar.com. Although Anaconda has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Anaconda does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
SOURCE Anaconda Mining Inc.
View original content: http://www.newswire.ca/en/releases/archive/February2019/26/c8043.html
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|