TORONTO, Oct. 17, 2017 /CNW/ - Anaconda Mining Inc. ("Anaconda" or the "Company") – (TSX:ANX) is pleased to announce that it is changing its fiscal year-end to December 31, from its current fiscal year- end of May 31. The notice for the year end change required under National Instrument 51-102 has been filed under the Company's profile at www.sedar.com.
Anaconda believes this will better align the Company's financial reporting periods to that of its peer group in the mineral resources sector and facilitate marketplace assessment of the Company's business performance.
As a result, the Company will report audited financial results for a seven-month transitional fiscal year from June 1, 2017 to December 31, 2017. Afterwards, Anaconda will revert to a customary quarterly reporting calendar based on a December 31st financial year-end, with fiscal quarters ending on the last day in March, June, September, and December each year.
The Company will provide revised guidance parameters for the new 2018 financial year in the first quarter of the 2018 calendar year.
Anaconda Mining is a TSX-listed gold mining, exploration and development company, focused in the prospective Atlantic Canadian jurisdictions of Newfoundland and Nova Scotia. The Company operates the Point Rousse Project located in the Baie Verte Mining District in Newfoundland, comprised of the Pine Cove open pit mine, the fully-permitted Pine Cove Mill and tailings facility, the Stog'er Tight deposit, a new discovery called Argyle, and approximately 5,800 hectares of prospective gold-bearing property. Anaconda is also developing the recently acquired Goldboro Project in Nova Scotia, a high-grade Mineral Resource, with the potential to leverage existing infrastructure at the Company's Point Rousse Project.
The Company also has a pipeline of organic growth opportunities, including the Viking and Great Northern Projects on the Northern Peninsula and the Tilt Cove Property on the Baie Verte Peninsula.
SOURCE Anaconda Mining Inc.
For further information: Anaconda Mining Inc., Dustin Angelo, President and CEO, (647) 260-1248, email@example.com, www.AnacondaMining.com; Anaconda Mining Inc., Lynn Hammond, VP Public Relations, (709) 330-1260, firstname.lastname@example.org