The president and CEO of Anaconda Mining, Dustin Angelo, is hoping properties picked up by the company on the Baie Verte Peninsula in 2013 will ultimately add to gold reserves already available to the company at Pine Cove.
On Jan. 13, Anaconda offered up financial results for the six months ended Nov. 30, 2013, noting 7,948 ounces of gold sold, $11 million in revenue and about $3.2 million in net income.
The report also highlighted two, three-year option agreements for 100 per cent interest in the Deer Cove and Stog'er Tight gold projects - found next to the company's Pine Cove property.
"(Anaconda) completed a major strategic initiative during the (last) quarter with the acquisition of the Deer Cove and Stog'er Tight properties, consolidating our land position on the peninsula," Angelo stated. "These properties contain two advanced gold projects and will be a significant focus in our drive to increase resources and production in the coming months."