TORONTO, Sept. 16, 2016 /CNW/ - Anaconda Mining Inc. ("Anaconda" or the "Company") – (TSX:ANX) is pleased to announce that it has been named one of the fastest growing companies in Canada, according to the 28th annual PROFIT 500 List, the definitive ranking of Canada's Fastest-Growing Companies from Canadian Business' online publication, PROFITguide.com. Anaconda was the only company to make the prestigious list in the natural resources category, with a five-year revenue growth of 96%.
President & CEO Dustin Angelo, stated, "We are honoured and humbled to be recognized among the fastest growing companies in Canada. First and foremost, the foundation of our growth is the people of Anaconda. For the last five years, our workforce has been committed to continuous improvement, through hard work and innovation, and it has resulted in a tremendous growth trajectory. We're also proud to be the only natural resources company in Canada to make the PROFIT 500 list."
In the PROFIT 500 assessment process, Anaconda was identified as a Toronto-based company and ranked #171 of 195 companies in Ontario. If it had been assessed as a Newfoundland & Labrador company, Anaconda would have ranked as the #5 most profitable company in Atlantic Canada. Overall, Anaconda was #441 on the national PROFIT 500 list.
Published in the October issue of Canadian Business and PROFITguide.com, the PROFIT 500 list ranks Canadian businesses by their five-year revenue growth.
Anaconda Mining is a growth-oriented, gold mining and exploration company with a producing project called the Point Rousse Project and an exploration/development project called the Viking Project in Newfoundland.
The Point Rousse Project is approximately 6,300 hectares of property on the Ming's Bight Peninsula located in the Baie Verte Mining District in Newfoundland, Canada. Since 2012, Anaconda has increased its property control by ten-fold on the peninsula and gold production to approximately 16,000 ounces per year. In an effort to expand production, it is currently exploring three primary, prospective gold trends, which have approximately 20 kilometres of cumulative strike length and include five deposits and numerous prospects and showings, all within 8 kilometres of the Pine Cove Mill.
Anaconda also controls the Viking Project, which has approximately 6,225 hectares of property in White Bay, Newfoundland, approximately 100 kilometres by water (180 kilometres via road) from the Pine Cove Mill. The project contains the Thor Deposit and other gold prospects and showings. The Company's plan is to discover and develop more resources within these project areas and substantially increase annual production at the Pine Cove Mill from its current rate of approximately 16,000 ounces.
As the only pure play gold producer in Atlantic Canada, Anaconda Mining is turning the rock we live on into a growing and profitable resource. With a young and motivated workforce, innovative technology and the support of local suppliers, Anaconda is investing in the people of Newfoundland & Labrador and giving back to the communities in which we operate – building a better future for all our stakeholders, from the ground up.
This document contains or refers to forward-looking information. Such forward-looking information includes, among other things, statements regarding targets, estimates and/or assumptions in respect of future production, mine development costs, unit costs, capital costs, timing of commencement of operations and future economic, market and other conditions, and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to: the final approval of the private placement by the Toronto Stock Exchange; the grade and recovery of ore which is mined varying from estimates; capital and operating costs varying significantly from estimates; inflation; changes in exchange rates; fluctuations in commodity prices; delays in the development of the any project caused by unavailability of equipment, labour or supplies, climatic conditions or otherwise; termination or revision of any debt financing; failure to raise additional funds required to finance the completion of a project; and other factors. Additionally, forward-looking statements look into the future and provide an opinion as to the effect of certain events and trends on the business. Forward-looking statements may include words such as "plans," "may," "estimates," "expects," "indicates," "targeting," "potential" and similar expressions. These forward-looking statements, including statements regarding Anaconda's beliefs in the potential mineralization, are based on current expectations and entail various risks and uncertainties. Forward-looking statements are subject to significant risks and uncertainties and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and we assume no responsibility to update them or revise them to reflect new events or circumstances, except as required by law.
SOURCE Anaconda Mining Inc.
Image with caption: "Canadian Business recognizes Anaconda Mining as one of the fastest growing companies in Canada (CNW Group/Anaconda Mining Inc.)". Image available at: http://photos.newswire.ca/images/download/20160916_C5714_PHOTO_EN_774878.jpg
For further information: Anaconda Mining Inc., Dustin Angelo, President and CEO, (647) 260-1248, firstname.lastname@example.org, www.AnacondaMining.com; High Stakes Strategy & Communications, Lynn Hammond, Executive Consultant, (709) 330-1260, LH@LynnHammond.ca