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Anaconda Mining's Q2 gold production increases 26%

  • Anaconda Mining (OTCQX:ANXGF +5.4%) has sold 3,712 oz gold in 2Q20, generating metal revenue of C$8.4M at record high average realized gold price of C$2,249/oz .
  • Point Rousse produced 3,657 oz of gold in 2Q20, up 26% Y/Y, due to higher mill availability.
  • The Pine Cove Mill processed 118.3K t during Q2 and achieved a recovery rate of 86.4%, an increase in throughput of 22%.
  • Cash balance stood at $5.5M on June 30. Further, the company recently announced a non-brokered private placement for up to $5.51M, which will accelerate its highly prospective exploration and diamond drill programs in Atlantic Canada.
  • "The second quarter also saw the announcement of strong drill results at Stog'er Tight and the initiation of a 5,500 metre drill program at the Goldboro Gold Project. Our $5.5M of cash combined with our recent private placement of up to $5.51M gives us the financial wherewithal to execute our growth strategy," said CEO and president Kevin Bullock.
  • Anaconda Mining to hold AGM and special meeting on July 30.

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