Anacortes Mining Corp.
XYZFF
Other OTC0.28
USD
+0.01
- -
Anacortes Mining Corp.
XYZFF
(Other OTC)
Recent
price
0.28
P/E
ratio
- -
div
yld
- -
ROIC.AI
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- Business
- Anacortes Mining Corp. is a Vancouver-based gold exploration and development company focused on advanced-stage projects in the Americas. The company holds a 100% interest in the Tres Cruces oxide gold project located in north-central Peru's La Libertad region, approximately 10 km from the Lagunas Norte mine; Tres Cruces hosts indicated resources of 2,474,000 ounces of gold at 1.65 g/t, including 630,000 ounces of high-grade leachable oxide gold at 1.28 g/t, and inferred resources of 104,000 ounces at 1.26 g/t. Founded prior to its public listing on the TSX Venture Exchange under ticker XYZ (OTCQB: XYZFF), Anacortes targets junior gold producers and development assets with heap-leach potential, serving investors in precious metals markets primarily in Canada and Peru. In June 2023, Anacortes became a wholly-owned subsidiary of Steppe Gold Ltd. (TSX: STGO) following the completion of a plan of arrangement whereby Steppe acquired all outstanding common shares, resulting in the delisting of Anacortes shares from the TSX Venture Exchange. Subsequently, in 2024, Steppe Gold sold the Tres Cruces project, including Anacortes' indirect subsidiaries holding the asset, to Boroo Singapore for approximately C$12 million payable in installments over 18 months to enhance liquidity and refocus on Mongolian operations. These transactions positioned Anacortes within Steppe's broader portfolio before the divestiture, with an updated preliminary economic assessment filed in August 2023 outlining after-tax NPV of US$158 million at a 5% discount rate and potential average production of 68,000 ounces annually over a seven-year mine life. The company maintains its head office at 1090-510 Burrard Street, Vancouver, British Columbia.
Steppe Gold inks definitive deal to acquire Anacortes Mining
Steppe Gold to acquire Anacortes Mining in an all-share transaction
Steppe Gold Ltd. to acquire Anacortes Mining to create a strong, diversified precious metals producer
Anacortes Mining confirms talks with interested party to boost shareholder value
Anacortes Mining says drilling at its Tres Cruces gold project in Peru indicates additional mineralization potential