Anaconda Mining sells 2,919 ounces and generates $1.3M of EBITDA at the Point Rousse Project for Q1 fiscal 2017

T.ANX, Anaconda Mining, gold, Newfoundland

Anaconda Mining Inc. (T.ANX) is pleased to report its financial and operating results for the three months ended August 31, 2016 (the “Quarter”). The Company sold 2,919 ounces of gold resulting in $4,919,737 in revenue at an average sales price of $1,685 (USD$1,299) per ounce. Cash cost per ounce sold at the Point Rousse Project for the three months ended August 31, 2016 was $1,244 (USD$959). The Company generated positive earnings before interest, taxes, depreciation and amortization and other non-cash expenses (“EBITDA”) of $1,287,567 at the Point Rousse Project. Net loss for the three months ended August 31, 2016 was $379,565. As at August 31, 2015, the Company had cash and cash equivalents of $359,794 and net working capital of $500,744. read more

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