Anaconda Mining Inc. announced financial and operating results for the fourth quarter and full year ended May 31, 2014. During the fourth quarter its Pine Cove Mine sold 3,797 ounces of gold and generated $5,278,887 in revenue at an average sales price of $1,390 per ounce. Sales volume and Revenues were approximately 13% and 22% lower than the fourth quarter fiscal 2013 sales volume and revenue, respectively.

For the quarter, the Pine Cove mill operated for 82 days at an availability rate of 89%. The mill processed 81,569 dry tones of ore at an average head grade of 1.80 grams per tone. Overall mill recovery was 82%, compared to 84% in the fourth quarter of 2013, primarily due to lower than expected leach-circuit recovery.

For fiscal 2014, the company sold 14,577 ounces of gold and generated $20,175,326 in revenue at an average sale price of $1,384 per ounce. Compared to fiscal 2013, sales volume and revenue decreased by 2% and 17% respectively. Year-over-year revenue decreased due to a decline in average sales price from $1,625 per ounce in fiscal 2013 to $1,384 in fiscal 2014.

For the year, the mill processed approximately 305,000 tones of ore, nearly 17,000 more tones than fiscal 2013.

The company expects to exceed fiscal 2014 throughput and sales volume, and maintain approximately the same grade and recovery in fiscal 2015.