Anaconda Mining posts $4.3 millionAnaconda Financial Statements FY2014
In this economic environement regarding the mining industry, Anaconda did quite well considering the last 3rd quarter, due to the severe winter. All in costs are in the high $1,300 including a $2 million exploration program. Ultimately, the goal is to discover NI43-101 resources which would increase the life of the mine dramatically. The initial drilling at Romeo & Juliet didn't produce great results which would require more drilling to determine and define that Balcony Zone. Deer Cove and Stoger Tight are scheduled to be completed in this next fiscal year. For those investors that don't do the research, I can see sell-offs to the degree we are experiencing. I guess it comes down to believing in your own research of the company and the direction Dustin Angelo is taking us. As for me, Anaconda is still on schedule this year with their exploration and untill we get a NI43-101 increase, unfortunately, I can't see much movement on the share price. Us believers will add to our positions at this level and the non-believers will sell.
160k - Re - Stock Dilution.
At this particular time in Anaconda's young life stock dilution isn't needed because Anaconda has a self sustaining mine in Pine Cove that covers ALL Costs including exploration. In terms of a stock concentration, (share buy back), Anaconda is spending on exploration and doesn't have that extra cash to buy back shares. All this without borrowing any money. As far as merging with or even buying another company that dilution post would be an intersting read for those of us that will hold on to this company.
I'm sure glad, Anaconda has NO DEBT. GLTA Cheers!!!!