Canadian Mining Journal

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Anaconda Mining grows footprint in Atlantic Canada



Since Dustin Angelo joined junior gold producer Anaconda Mining (TSX: ANX) as president and CEO in September 2010, he and his management team have grown the company’s footprint in Newfoundland through option deals and staking from about 660 hectares to nearly 20,000 hectares across four projects.

Angelo has also been busy trying to grow the company through M&A and acquired Anaconda’s first project in Nova Scotia – Goldboro – through the acquisition of Orex Exploration earlier this year.

“We’ve always had a two-pronged approach: standard organic growth through options, staking and exploration, and M&A,” he says. “Now we have a complete pipeline of projects – everything from grassroots all the way to production.”

“We’ve got about 1 million ounces in our portfolio between all these projects and between measured and indicated and inferred, and we see potential to have a significant growth profile over the next three to five years.”

Continue reading at The Northern Miner.