Anaconda Mining – Recapping A Record Year For Production and Ongoing Exploration
Anaconda Mining (TSX:ANX & OTC: ANXGF) put out two news releases last week, outlining record gold production and more drill results from the Goldboro Project. Dustin Angelo, Anaconda’s President and CEO joined me for a general overview of the production numbers and ongoing exploration. There are some important details that the Company has learned about the resource in the Goldboro Project that Dustin outlines. Please send me any questions you have regarding the exploration or production of the Company – Fleck@kereport.com.
I’d still like to see them make a move at taking over Resource Capital Gold corp for pennies on the dollar while they’ve imploded over the last few years, or Torq Resources, and then of course they can always double-back to Maritime and make another offer, once their current shareholders get sick of the MAE Dilution Machine.
Agreed Ex, if you are a metal producer you must be aggressive or you will fail. Companies like investors must be very watchful of what they are doing, the screw literally is always turning unless you have a government job. Anaconda needs to make an acquisition or they will play their hand, that also could mean a reverse takeover. DT
Good thoughts DT. Anaconda has some good resources they’re still working on near their mill with Pine Cove, Stog’er Tight and Argyle that they are still expanding, and Goldboro is going to be a great deposit to mine for them with plenty of room for expansion.
In addition they have other exploration projects at Great Northern with both Jackson’s Arm and Viking, and they have their Tilt Cove Project as another kicker.
Still, it would make sense for them to keep an eye towards accretive acquisitions to stack the deck, before Atlantic Gold gets to some of them, or another Mid-tier tries to expand into their jurisdiction and scoops up the low hanging fruit while few are paying attention.
2019 should be a nice year for a re-rating for ANX and I wish them all the success they deserve after delivering in press release after press release.
Ever Upward!
Why Torq Resources???? I thought they abandoned all their Newfoundland properties and are just sitting on around 13M and looking for new plays
I believe Anaconda could monetize those Newfoundland properties and pick them up on the cheap from Torq.
Again, I’d rather see them take out RCG Resource Capital Gold corp, or make another go at MAE Maritime Resources first.
Ahh.. I see what you mean. They divested their interest in them…. Either they believe it would be too costly to explore, or they simply believe they’d rather try acquiring another project instead.
Torq Relinquishes Property Options to Pursue High Impact Opportunities Globally
by @nasdaq on October 23, 2018
“Torq Resources Inc. (TORQ) has decided, based upon the scale and risk of the opportunities, that West Mercur and Newfoundland do not meet the Company’s strict geological requirements. The projects will no longer represent a financial obligation for Torq, allowing the Company to focus on the acquisition of projects that will deliver the highest shareholder value. Torq is currently reviewing several opportunities.”
https://ceo.ca/@nasdaq/torq-relinquishes-property-options-to-pursue-high-impact
It may mean those properties, or other orphaned projects may be even cheaper to pick up now.
Regardless, I respect Dustin and team at ANX to bolt on an accretive acquisition when the time is right and once they’ve done proper due diligence.
Until then, looking forward to them to keep hitting on their current exploration programs.
Additional comment from 321 Gold on Anaconda Mining. http://www.321gold.com/editorials/moriarty/moriarty011519a.html
Well done piece by Bob M. as per usual.
“Anaconda continues to drill their high grade Goldboro deposit. The company just announced a 78.07 g/t gold intercept over 1.1 meters. To show it wasn’t just a fluke they also reported a 32.42 g/t Au intercept over 2.6 meters. It’s a saddle reef style deposit and you can expect a lot of similar grades and intercepts.”
“Anaconda already released an updated 43-101 showing over one million ounces of high grade gold at Goldboro. With five million in the treasury or so and gold production from Newfoundland and over a million ounces of rich rock at Goldboro you would think that someday soon investors might wake up.”
“I am looking for a rally to begin in February. Companies selling for $15 an ounce US are going to be big stories once investors get it.”
http://www.321gold.com/editorials/moriarty/moriarty011519a.html
GGX is delivering stellar drill results but they only have an option on the property. They are in British Columbia right near an underused mill owned by Kinross. These plays are very tricky because they usually end up in court when the deal is not completed and the drill results are great. GGX in my opinion is releasing their drill results on Friday evening after the market close, that is intentional. They are tying to fly under the radar but the wolf is at the door. DT
(WHN) Westhaven Resources did not impress the markets today with their drill results and they are getting kicked hard in the pants for it. The markets are not very forgiving and the expectations from rabid speculators in some of this hot drill plays are in the stratosphere, so anything less than that disappoints the market.
_______________________________
Westhaven Ventures Inc. (WHN.V)
0.90 down -$0.30 (-25.00% loss)
As of 2:28PM EST
Just imagine that you had $40K in one of these speculative dril-lplays, and in 1 morning on news of drill results that were good but not interstellar, the value drops to $30K in a blink of the eye.
These resource markets are not for the faint of heart.
dril-lplays = drill-plays 😉
(PGM) Pure Gold broke out to new highs today though, and (RNX) RNC Minerals was up around 25% on the day, so it is a 2-way street for investors willing to speculate in the Jr Miners.
Exciting times!
(MXSG) Mexus Stage 1 drilling complete; pays off $105,000 loan commitment; Plans to reach out to Itronics and explore its breakthrough technology
(GLOBE NEWSWIRE) – Jan 18th, 2019
“The company is awaiting assay results which will be plotted and produce a 3D Model used for interpretation. The final results are expected in February 2019.”
William T. Bogard (President) The Darco Group located in Newport Beach CA, joins (MXSG) Mexus Gold US to explore steps to start production on the mining assets.
(GLOBE NEWSWIRE) – Jan. 16, 2019
Mexus Gold, years ago they flew like crazy and I bought in at just the right time and got out the same way as well, since then I haven’t given them the time of day. It makes me laugh when you think back on catching a star at the right time and then forgetting the experience as it is easy to get lost investing in the galaxy. LOL! DT
Yes, I caught that move in MXSG from early on at $.0035 all the way up to $.20 for the largest percentage increase I’ve ever experienced on a stock in that short span of time. I sold a bunch on the way up, and kept a remaining core position in place that was at a zero cost basis.
There is no doubt it crashed back down when they ran into issues getting into production with their JV partner at the time MarMar over the last 2 years. However, they fired MarMar last year, which was the right thing to do, brought in more experts to assess their projects, and developed a new approach at the end of last year.
Fast forward 2 years later, and now they are building a new team, doing exploration definition drilling work again, and have most of the infrastructure in place to be able to move back into production with a more competent operator.
MXSG is very undervalued here, has very little debt, and ounces in the ground with Merrill Crowe processors and leach pads on the surface. This one could really surprise to the upside again this year, and I’m considering adding to my remaining position at these levels.
2019 A Game Changer; $1,500 Gold May Be In The Cards
Jan 21, 2019 – Peter Hug
“Gold’s uptrend so far in 2019 has been more than seasonal, and the same macroeconomic forces that have been driving it up could push the yellow metal higher still, said Peter Hug, global trading director of Kitco Metals.
“If the Fed reverses course again because the economy is slowing down, then I think we could have the same liquidity event we had [in 2011], maybe not the same extreme, but I think you do see gold at maybe $1,450, $1,500 [an ounce],” Hug told Kitco News on the sidelines of the Vancouver Resource Investment Conference.”
Everything You Know About Gold, Throw It Out The Window
Jan 21, 2019 – E.B. Tucker Director, Metalla Royalty & Streaming
“E.B. Tucker, director of Metalla Royalty & Streaming, is sticking to his $1,500 an ounce gold call. ”
“Gold is a commodity, so you see these cycles that run in the commodity business. They go to highs, they go to lows, and everybody gets scared of the lows, and they get euphoric at the highs. We’re definitely at a low, and that’s where we came up with that call, and so far, we’re up $75-$80, we’re right,” Tucker told Kitco News on the sidelines of the Vancouver Resource Investment Conference.
Jeff Currie at Goldman Sachs says $1,425 this year. My guess is $1,450 to $1,475.
Then there’s this guy…
http://www.321gold.com/editorials/captainewave/captainewave012019/gold_weekly.png
The second coming of Bo Polny? 😳
“The second coming of Bo Polny? 😳!”
Haha! Bo’s target is $5k-$10K every year, but CaptainEwave is being very
aggressive for the rocket shot has projecting up to $1993.70. His initial target before a pullback is $1447.20, so that seems reasonable in 2019.
Pipe Dream Polny……….Bo and Zo…….
That chart of his that I linked shows $1,993.70 by June.
Wow, I didn’t catch that the $1993.70 was by June. Gold would need to fly at an absurd pace to make that happen…. That would really surprise most investors.
There is simply no reason why gold will go up…….if, the queen owns more land than anyone in the world, ….then she owns more gold than anyone….and she sure does not need any more fiat money………the fiat system is alive and not going any where…….at least not for a very LLLLLLLLLLLLLLLLong time………….
This is my WAG…………wild a.. guess…..
That’s a good WAG OOTB.
I could see gold making it up to the $1447.20 that CaptainEwave presented if Gold can take out the 2016 high of $1377.50. At that point more money on the sidelines would position, shorts would capitulate, and move into the mid $1400’s is reasonable.
Nothing very dramatic has to happen for that to happen, and nobody was suggesting an imminent end to the fiat system anytime soon, although, all fiat systems do come to an end.
All that we need to see is a bit more reality settle in with regards to the current Currency Wars, more Trade Wars, and a bit more Volatility in the general stock markets for Gold to move to a higher valuation relative to wobbling asset classes and other currencies.
If the Dollar weakens into the high 80’s or lower, then that would only underpin the reason for some investors to move some of their assets into PMs for safe keeping.
I’d settle for $1499 gold by Halloween. Rob McEwen still says gold is going to 5K, and he is as smart as any of us.
LOL………someday…..but not soon…………
Ro and Bo………
Rob could easily be right but I am sure he’s not talking about 5k this year.
Myrmikan Research
January 14, 2019 – Dan Oliver
Our Currency and Our Problem
“The U.S. dollar system was founded at Bretton Woods on three pillars: American
military supremacy, American financial hegemony, and American economic prowess. The U.S. is now the world’s largest debtor instead of the world’s largest creditor. China has supreme military, financial, and economic power in expanding concentric circles. Russia is carving out its own sphere of economic and military influence. Europeans now use the euro. As American power continues to ebb, the dollar will become increasingly unable to rely on geopolitical support.”
“If the dollar’s value cannot be maintained by an international short squeeze, the
market will look instead to the Fed’s balance sheet, and the story there is dire. Far from being backed by gold and short-term commercial invoices, the Fed holds mostly Treasury bonds and mortgage backed securities (the anomalous data point is 2008 when the Fed loaded up on foreign central bank dollar swaps).”
“The credit bubble that began in the 1980s hid the dollar’s problems and allowed
them to metastasize to an enormous degree. Thinking strategically, the best course for the U.S. may now be a radical devaluation of the dollar. Such an action would relieve the government of its debt burden (not to mention large financial institutions), devalue the enormous hoard of Treasury bonds the Chinese hold, pop their credit bubble, and allow strategically important countries to escape the China debt trap. It would also act as a protectionist measure, destroying the Chinese export model and boosting temporarily domestic demand for American labor. The cost would be soaring retail prices, especially for the middle class, but what is the alternative?”
http://www.myrmikan.com/pub/Myrmikan_Research_2019_01_14.pdf
TLT peaked vs GLD last summer and still does not look good. (Long term, it peaked vs GLD three years ago.):
http://schrts.co/IDRMQJtI
Real Long-Dated Interest Rates: A Disaster In Waiting
http://www.321gold.com/editorials/hoye/hoye012119.pdf
ZJG (Canada’a GDXJ but truer to its name):
http://schrts.co/JDtfmEbU
IMF Serves Up Depressing New Outlook On The World For Investors To Ponder
Brian Sozzi – Yahoo Finance – January 21, 2019
“In its latest World Economic Update report, the IMF said Monday the global economy is projected to grow at a meager 3.5% this year and only accelerate to 3.6% in 2020. The outlooks for 2019 and 2020 are 0.2 percentage point and 0.1 percentage point below the IMF’s projections issued in October.”
“Hat tips to the ongoing U.S. trade war with China, tightening financial conditions globally and more volatile risk asset markets.”
“The IMF pretty much had nothing good to say on the outlooks for developed and emerging markets.”
The Silence on Wall Street’s Dark Pools Is Deafening
By Pam Martens: January 21, 2019 ~
“In 2014 Citigroup Had Six Separate Trading Venues, Including Dark Pools”
“It is destined to go down as one of the greatest journalistic and regulatory failures of our time – the lack of serious attention by investigative business reporters and the U.S. Department of Justice to the glaring fact that the largest Wall Street banks continue to trade their own and each other’s bank stocks in their own Dark Pools.”
“Dark Pools function as unregulated stock exchanges inside the bowels of the largest Wall Street banks. Making the situation even more dicey, some of the big banks own more than one Dark Pool, raising the possibility that there could be cross-trading between those pools to artificially inflate or depress stock prices.”
http://wallstreetonparade.com/2019/01/the-silence-on-wall-streets-dark-pools-is-deafening/
So this whole thread was posted by another contributor from Twitter. It shows how once investor went from rags to riches in cryptos, got over extended, and didn’t believe the crypto-crash was coming. It is a very interesting read and a good learning lesson, and is worth the quick read as there are many ideas/emotions shared that many investors encounter on their journey when a trade pays off and then turns sour.
___________________________
Peter McCormack
4:43 AM – 13 Dec 2018
> “So here is a thread on how I turned $32,000 into $1.2m and back to pretty much zero (once taxes are paid).”
“Just note, I am not bitter or salty in any way at all, the last 2 years have been an amazing ride – traveled the world, been wealthy, been poor.”
https://twitter.com/PeterMcCormack/status/1073196778705559553
Peter McCormack
13 Dec 2018
“If there is another bull run and you make a bunch of cash then remember to take profits. Don’t overstretch yourself.”
“People say don’t invest what you can’t afford to lose, well don’t keep in Crypto profits which will change your life.”
“It is one of the reasons I have sympathy for maximalism, all these tokens and coins really are silly.”
https://twitter.com/PeterMcCormack/status/1073196809412112384
Pioneer Resources PIO.AX PIONF: Sinclair Mine Complete, First Caesium Shipment
https://www.asx.com.au/asxpdf/20190122/pdf/44205x6xgjdvcz.pdfScheduled
Pioneer correct link…
https://www.asx.com.au/asxpdf/20190122/pdf/44205x6xgjdvcz.pdf
Kiss the ring…….just thought this was interesting…..
“Queen Elizabeth II the largest landowner on Earth.”
Queen Elizabeth II, head of state of the United Kingdom and of 31 other states and territories, is the legal owner of about 6,600 million acres of land, one sixth of the earth’s non ocean surface.
She is the only person on earth who owns whole countries, and who owns countries that are not her own domestic territory. This land ownership is separate from her role as head of state and is different from other monarchies where no such claim is made – Norway, Belgium, Denmark etc.
The value of her land holding. £17,600,000,000,000 (approx).
This makes her the richest individual on earth. However, there is no way easily to value her real estate. There is no current market in the land of entire countries. At a rough estimate of $5,000 an acre, and based on the sale of Alaska to the USA by the Tsar, and of Louisiana to the USA by France, the Queen’s land holding is worth a notional $33,000,000,000,000 (Thirty three trillion dollars
from silver stealer.net
this is a true…….Anaconda ……….
……The Queens what there flesh………
https://www.zerohedge.com/news/2019-01-21/kunstler-americas-all-lost-moment-looms
what…want……I love this computer…..
To Bad………they are not govt employee…………Sear employee will get no pension…
https://www.zerohedge.com/news/2019-01-21/feds-prepare-bail-out-vast-majority-90000-sears-pensions
following the Company’s October bankruptcy, after it was revealed in a Friday filing that Chairman Eddie Lampert’s $5.2 billion rescue package does not include pension plans.
Under The Radar 537-555 – former canadian hockey player and $gold $Bitcoin heist
https://www.youtube.com/watch?time_continue=659&v=7hNtmk55ehw
Fwiw:
Kootenay Sampling Program Returns Several High-Grade Results
http://pdf.reuters.com/htmlnews/htmlnews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20190121:nCNWL37Tka
GDXJ:GLD pulled back to the 50 day MA for the first time in a month:
http://schrts.co/dTyeikXP
SILJ:SLV new 2.5 year low on the daily chart. Frustrating doesn’t begin to describe this sector.
SILJ:GDX is a day or two away from making a new 2.5 year low.
SLV:GLD has a big gap below the 50 day MA. Maybe SILJ:GDX is telling us it will get filled. Either way, the sector is far from falling apart here. Silver juniors are the most speculative part of the sector so they provide equally impressive downside leverage during a pullback/correction.
http://schrts.co/fiEZFRUN
Yeah, I understand that. The question is what does lower lows and lower highs vs the metal and just about everything else on earth tell us about the health of the sector overall?
One would think that after a major/historic low, the most speculative sector should start to make higher lows and higher highs vs everything else.
I just think there’s a huge amount of bearishness even among those who want to be bullish so everything probably hinges on how the sector behaves following this short term correction. We need breakouts that everyone can believe in!
Until then, any strength will probably get sold by a lot of people.
the low in the 5 week RSI reached in SILJ:GDX a few weeks ago was obscene.
A lower low here in the ratio would be a kick in gnads for anyone daring to hold.
It’s taking a long time but a very important long term low is in the works so I’m impervious to the kick you described. Everyone has to do what’s right for themselves. Learning to use options to hedge is a good idea.
Despite rising more than 6-fold versus silver since 2009, palladium is still down more than 60% versus silver since 2001.
Monthly:
http://schrts.co/ubgpWARY
That just reinforces how important timing is.
What does your chart say six months from now?
Palladium is very overbought (even monthly) versus silver or the dollar (and at an all-time high versus the dollar) while silver is near a multi-year low, so, combine that with my outlook for the gold-silver space and it seems very likely that silver will significantly outperform palladium in the next six months.
It could also mean palladium has a lot further to go up (or silver to go down) to reach breakeven.
Yes it could, for awhile, but I doubt very much that it last for six months.
As I mentioned recently, palladium could still add another quick $100 or so. Moves like this one don’t usually quit in a way that many people can predict.
SILJ is heading for its post-Fed gap:
http://schrts.co/ySgGHYJn
Good to hear an updated from Anaconda Mining. They’re one of the few companies still flying under the radar that have continually hit their milestones and guidance in 2017 and 2018, and it’s sad to say, but that is a rarity in the mining sector.
The biggest concern the marketplace seems to have is their future pipeline of projects to feed the mill, but Goldboro has the ability to really deliver if they keep doing such solid exploration work.
Good luck to 2019 for the ANX team. Cheers!