Fundamental Research Initiates Coverage on Anaconda Mining - Video Summary Posted on www.InvestmentPitch.com

InvestmentPitch.com has produced a "video news alert" based on this report. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Anaconda" in the search box.

Vancouver, British Columbia, February 10, 2012 - Fundamental Research has initiated coverage on Anaconda Mining (TSX:ANX). Analyst Siddarth Rajeev gives the company a buy rating and a fair value price of $0.20, substantially higher than the $0.085 price on the day the report was issued.

InvestmentPitch.com has produced a "video news alert" based on this report. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Anaconda" in the search box.

Anaconda Mining is a Toronto-based mining and exploration company focused on the currently producing Pine Cove gold

mine located near Baie Verte in Newfoundland. The company acquired an initial interest in the 660 hectare property in 2003, obtaining 100% interest in January 2011.

The company produced and sold approximately 5,300 ounces of gold in 2011, and expects to produce and sell 12,500 ounces during 2012.

Resource expansion drilling down dip of the current open pit in the summer of 2011 identified gold mineralization over significant widths, reporting 59 metres of 1.96 grams per tonne gold, including 41 metres of 2.5 grams per tonne gold.

The company recently closed the sale of its Chilean iron ore assets for up to $11 million.

Revenues for 2011 were $7.48 million. Fundamental expects revenues to increase to $18.91 million in 2012, and $27.57 million in 2013. Fundamental forecasts adjusted net income of $2.38 million or $0.01 earnings per share for 2012, and $8.42 million or $0.05 earnings per share for 2013.

The company currently trades at $0.095, and with 177 million shares outstanding, it is capitalized at $17 million.

For more information, please visit the company's website www.anacondamining.com. The company's investor relations are handled by Joanna Longo at 416-238-1414 or by email at info@anacondamining.com.

You can also obtain a copy of the Fundamental research report at www.researchfrc.com.

InvestmentPitch.com is a multimedia company that provides a combined solution for creating and hosting financial video content, and distributing it across multiple platforms to investors and financial professionals. InvestmentPitch.com specializes in producing three minute videos based on news releases and research reports.

CONTACT: InvestmentPitch.com Barry Morgan, CFO 604-684-5524 bmorgan@investmentpitch.com

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: InvestmentPitch via Thomson Reuters ONE

[HUG#1584805]

Übersicht  |  Drucken  |  nach Oben