Profile: Allied Nevada Gold Corp (ANV)

ANV on American Stock Exchange

2.33USD
24 Oct 2014
Price Change (% chg)

$-0.07 (-2.92%)
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$2.40
Open
$2.43
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$2.44
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Volume
276,311
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52-wk High
$6.70
52-wk Low
$2.25

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Allied Nevada Gold Corp. (Allied Nevada), incorporated on September 14, 2006, is a gold and silver producer focused on mining, development, and exploration of properties in the state of Nevada. The Company’s operating mine, the Hycroft Mine, is an open-pit gold and silver heap leach operation located 54 miles west of Winnemucca, Nevada. During the year ended December 31, 2012, the Hycroft Mine produced 136,930 ounces of gold and 794,097 ounces of silver. In addition to the Hycroft Mine, the Company has six properties which have reported other mineralized material and approximately 90 other early stage exploration properties. The Company’s segments include the Hycroft Mine, Exploration, and Corporate and Other. The Hycroft Mine segment includes the operations, development, and exploration activities of Hycroft. The Exploration segment includes all costs related to the exploration and development of its properties outside of the Hycroft Mine. The Company’s principal products are unrefined gold and silver bars (dore) produced from the Hycroft Mine.

Hycroft Mine

The Company has one operating property, the Hycroft Mine which is located 50 miles west of Winnemucca, Nevada. It holds 27 private parcels and 3,015 unpatented mining claims, which constitute its Hycroft Mine Operating Property. The total acreage covered by unpatented claims is approximately 63,947 acres and an additional 1,814 acres within the patented claims. Combining the patented and unpatented claims, total claims cover approximately 65,761 acres. Its Hycroft Mine is an open pit, run-of-mine and crushed ore heap leach gold mine, which also produces silver as a byproduct of the gold recovery process. During 2012, it drilled 265 holes, representing approximately 255,546 feet, with focus on metallurgical drilling at Central, Brimstone, and Vortex, geotechnical drilling at Central and Vortex, and step out drilling at Central and Brimstone.

Advanced Exploration Properties

As of December 31, 2012, the Company had six properties, on which mineralized material has been identified Maverick Springs (a 45% joint venture with Silver Standard), Mountain View, Hasbrouck, Three Hills, Wildcat and Pony Creek/Elliot Dome.

The Hasbrouck property is located in southwestern Nevada about five miles south-southwest of the town of Tonopah in Esmeralda County, Nevada. Hasbrouck consists of 28 patented mining claims and 583 unpatented mining claims, which combined cover an area of approximately 12,044 acres within Esmeralda County, Nevada. Seventeen of the patented mining claims and three of the unpatented mining claims are subject to a mineral production royalty of 4% of the net smelter returns (NSRs). The remaining 11 patented mining claims and 263 of the unpatented mining claims are subject to a mineral production royalty of 2% of the NSRs. During 2012, the Company’s exploration activity at Hasbrouck included drilling 20,010 feet in 37 reverse circulation drill holes, focused on expanding resources peripheral to the previously identified deposit.

The Three Hills deposit is located in southwestern Nevada about one mile west of the town of Tonopah in Esmeralda and Nye Counties, Nevada. Three Hills consists of 76 unpatented lode claims and three patented claims totaling approximately 1,632 acres. During 2012, it staked 61 unpatented claims and purchased two patented claims. During 2012, it completed 17 reverse circulation drill holes (9,170 feet) at Three Hills, focused on expanding the deposit to the east.

Wildcat is located about 35 miles northwest of Lovelock and 26 miles south of the Hycroft Mine in Pershing County, Nevada. The project consists of 345 unpatented mining claims and four patented mining claims for a combined total of approximately 7,193 acres. Thirteen of the claims are subject to an underlying 0.4% NSR, and the remaining 58 claims are subject to an underlying 1% NSR. During 2012, the Company’s exploration activity included 17,599 feet of core in 27 holes and 15,400 feet of reverse circulation rotary in 22 holes, for a total of 32,999 feet in 49 holes.

Other Exploration Properties

Allied Nevada has approximately 90 Other Exploration Properties. Allied Nevada maintains eight geothermal leases totaling 27,555 acres from the Department of the Interior Office of Natural Resources (BLM).

Company Address

Allied Nevada Gold Corp

Suite 200
9790 Gateway Drive
Reno   NV   89521
P: +1755.3584455
F: +1755.3584458

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