RE: Pine Cove mine sells 4,217 ounces of gold and These are very good numbers and confirm that the Pine Cove mine and mill are ontrack to match perhaps the best expectations.
Mill recovery is at breast-plate numbers and the mining rate is also at projected levels.
The grade is still slightly below the 2 gms projected but that is currently being addressed.
Cash costs were about $900 per oz in the most recent reported quarter and this quarter, with higher production, should at least match that number.
It seems almost certain that they will reach their target of 16,000 oz this year.
They may even exceed that, perhaps as high as 18,000 oz, if grades return to forcast levels.
Pit Reserves are adequate for a 8-9 year mine life and they have done a remarkable job of reducing debt to very modest levels and expect to eliminate such debt completely over the next year.
The target production is 50,000 to 100,000 oz per year from the expanded Pine Cove claims.
Recent drill results of higher gold grades just 100 m from the current open pit, and widespread gold-in-soil information show that there should be plenty of upside from ongoing exploration activities give confidence that Pine Cove will eventually sustain 50,000+ oz per year.
Rambler would be a natural fit for Anaconda.
M & A activity is underway or at least scheduled to begin this quarter.
With a well regarded Richmont operator on the Management team and since Richmont alreadys knows this region from their Hammerdown mine, Anaconda would make a nice fit for Richmonts current needs to expand add growth and boost production to over 100,000 oz per year.
The current market cap here is less than half of the replacement value of the Pine Cove mill and complex.
It just goes to show how little known and undervalued this microcap producer really is.