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Globe says insiders have been buying at Anaconda Mining

2020-07-27 07:58 ET - In the News

The Globe and Mail reports in its Saturday, July 25, edition that Anaconda Mining (52 cents), which has mining operations in the Baie Verte mining district of Newfoundland, recently reaffirmed its 2020 production guidance of between 18,000 and 19,000 ounces of gold. The Globe's guest columnist Ted Dixon writes in the Who Is Buying and Selling column that part of Anaconda Mining's growth strategy also includes the company's high-grade Goldboro gold project in Nova Scotia. Meanwhile, Mr. Dixon notes that over the past 90 days, three insiders have reported buying a combined total of 200,000 shares either through the public market or option exercises. The most recent reported buying took place on July 9 when chief executive officer Kevin Bullock bought 20,000 shares. The Globe reported on March 21, 2019, that Beacon Securities analyst Michael Curran commenced coverage of Anaconda Mining with a "buy" rating and a 90-cent share target. The analyst average was $1.40. In the item, Mr. Curran said, "We consider ANX shares to be undervaluing the potential addition of the Goldboro project to mining operations in the next few years." The shares could then be had for 28 cents.

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