It’s easy to be ordinary. Don’t make waves. Don’t take risks. Just stay with what you know. Excellence, on the other hand, is much harder to achieve. But for those that strive to be exceptional, to be great, to be excellent, the rewards are often worth the effort.
Our second annual Industry Excellence Awards program recognizes a group of companies, and individuals, who are anything but ordinary. They stand out among their competitors in Atlantic Canada’s oil and gas, mining and renewable energy sectors, and are re-shaping their industries in the realms of resource development, health and safety, innovation, environmental stewardship and championing communities.
When asked to sum up the most significant accomplishment of the year for Anaconda Mining Inc., president and CEO Dustin Angelo was stumped. “That’s tough to answer,” he says.
Maybe it was it being named “Miner of the Year” by the Newfoundland branch of the Canadian Institute of Mining, Metallurgy and Petroleum? Or perhaps it was striking an agreement to ship waste rock from its Pine Cove gold mine in Baie Verte, Newfoundland to supply aggregate to a project in the U.S.? Or it could be increasing gold production to 16,000 ounces or adding over 12,500 hectares to its land base on the island by acquiring the Viking, Jackson’s Arm and Tilt Cove properties.
The fact the Toronto-based company has been able to pull off all of these things in 2016 is why Angelo is Natural Resources Magazine’s Industry Person of the Year.
The New Jersey-born Angelo took over as the company’s CEO in 2010. At the time Anaconda wasn’t producing any gold. Six years later, the company is producing over 16,000 ounces and Angelo has plans to increase that number. “In five years’ time we’d like to be a 50,000 ounce producer at minimum and eventually produce 100,000 ounces,” Angelo says. “We’ve got some ideas of how to do it.”
Some of those ideas include drilling on its newly acquired properties and finding more gold. The Viking, Jackson’s Arm and Tilt Cove assets are approximately 180 kilometres by road from its Pine Cove processing mill. The plan is to feed any gold production coming from those two projects into the Pine Cove infrastructure.
Anaconda finished the first phase of its Viking project exploration program in November. The company is encouraged by the results and said it showed a widespread mineralization system exists throughout the areas of the Viking project. But will the exploration result in more gold discoveries that will turn Anaconda into that 100,000 ounce producer Angelo envisions, and raise its share prices above the seven cent range it’s currently trading at?
That remains to be seen. But considering the growth Anaconda has experienced during Angelo’s time as CEO, it might be unwise to bet against him. “I’m proud of what we’ve accomplished so far. But I’m never satisfied. This is not the end. This is the beginning.”