Anaconda Mining Inc. announced the positive result of an independent Preliminary Economic Assessment study on the 100% owned Goldboro Gold Project located in the Eastern Goldfields of Guysborough County, Nova Scotia, Canada. The PEA provides a base case assessment of developing the Goldboro mineral resource by open pit and underground mining, on site concentration through gravity and flotation circuits and leaching of the concentrate and a gold recovery at Anaconda's Pine Cove Mill in Newfoundland. Goldboro Project PEA Highlights. The base case scenario utilizes a long-term gold price of $1,550 and all dollar figures are presented in Canadian dollars unless otherwise noted. A summary of the certain assumptions and results from the PEA are indicated below: undiscounted cash flow before income and mining taxes of $189 million; pre-tax Net Present Value at a 7% discount rate of $120 million and a pre-tax Internal Rate of Return of 38% implying a pre-tax payback period of 2.9 years; total capital expenditures of $89 million, including pre-production capital expenditures of $47 million; undiscounted cash flow after income and mining taxes of $106 million; after-tax NPV at a discount rate of 7% of $61 million and an after-tax IRR of 26%, implying an after-tax payback period of 3.4 years; life of mine of 8.8 years, with 2.4 million tonnes of potential mill feed at an average grade of 5.13 grams per tonne and recovery rate of 93.6%, resulting in gold production of 375,900 ounces; mining rate of 600 tonnes per day of mineralized material at an average open pit grade of 2.99 g/t and underground grade of 6.83 g/t; processing at 800 tpd (600 tpd of run-of-mine high-grade material and re-handle of 200 tpd of stockpiled open pit lower grade material); average annual gold production of 41,770 ounces with up to 62,000 ounces in year 5; LOM average operating cash cost of $654 per ounce (~$525 per ounce) and all-in sustaining cash cost of $797 per ounce (~$640 per ounce) at an 0.80 USD:CAD exchange rate; potential for up to 200 jobs at the peak of production.