Allied Nevada achieves Q1 guidance
TORONTO (miningweekly.com) – US miner Allied Nevada Gold on Tuesday said it had achieved its first-quarter production and sales targets at its flagship Hycroft mine, in Nevada.
For the three months ended March 31, the Reno, Nevada-based company reported gold output rising 58% to 60 114 oz, and silver output more than doubling to 412 506 oz.
Gold sales increased 118% to 59 470 oz in the period, and silver sales soared 132% to 406 234 oz.
"Overall, we continue to see improved operational performance at Hycroft. Our silver to gold ratio improved steadily through the second half of 2013 to date as we increased the percentage of our metal produced as doré.
“We look forward to the benefits that the crusher is expected to bring us in the second quarter with increased recoveries for both metals, which we believe should result in a further increase of the silver to gold ratio,” president and CEO Randy Buffington said.
Last year Allied Nevada had completed heap leach expansion projects, allowing the company to increase the mining rate. It had also commissioned the north leach pad, two 55.8 m3 electric rope shovels and an 81 000 ℓ/m Merrill Crowe plant.
The company said that it was currently reviewing the results of the prefeasibility study, led by M3 Engineering and Technology, and expected to publish the results later this month.
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