Anaconda Mining Inc. Announces Revenue Results for the Fourth Quarter and Full Year Ended May 31, 2013; Reports Operating Results for the Fourth Quarter Ended May 31, 2013; Provides Operating Guidance for the First Quarter of Fiscal Year 2014; Sales Guidance for the Fiscal Year 2014
For fiscal 2013, the company sold 14,879 ounces of gold and generated $24,173,439 in revenue at an average sales price of $1,625 per ounce compared to fiscal 2012, sales volume and revenue increased 24% and 21%, respectively.
For the quarter, the Pine Cove mill processed 84,768 dry tonnes of ore during the fourth quarter. The record throughput represented 982 tonnes per operating day, compared to the budgeted amount of 967. The mill operated for 86 days at an availability rate of 93% and an overall gold recovery of 84%, slightly exceeding budgeted expectations. The average head grade of 2.19 grams per tonne, exceeded the 1.99 grams per tonne budgeted for the quarter.
The budgeted grade for the first quarter of fiscal 2014 is expected to be 1.89 grams per tonne with the average grade for the full fiscal year budgeted at 2.12 grams per tonne.
The company expects sales volume in fiscal year 2014 to exceed fiscal year 2013.