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Stock Market & Financial Investment News

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January 27, 2014
07:35 EDTANVAllied Nevada Gold divests Hasbrouck, Three Hills properties for $30M
Allied Nevada Gold signed a Letter Agreement with West Kirkland Mining to divest its non-core Hasbrouck and Three Hills properties for a total purchase price of $30M. The Hasbrouck property consists of twenty-eight patented mining claims and five hundred eighty-three unpatented mining claims and the nearby Three Hills property consists of six patented mining claims and one hundred unpatented mining claims located in Nye County and Esmeralda County, Nevada, U.S.A. WKM paid Allied Nevada a non-refundable $500,000 upon signing of the agreement, and agreed to pay an additional $19.5M upon closing, expected to be no later than April 24, 2014. The final $10M is to be paid to Allied Nevada within 30 months after the closing date, subject to Allied Nevada's option to retain an interest in the Property. In the event WKM does not meet its final $10M commitment to Allied Nevada, or if Allied Nevada takes the option to decline the final payment and retain and interest in the Property, the Property will be placed into a joint venture with WKM holding a 75% interest and Allied Nevada retaining a 25% interest.
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April 8, 2014
14:51 EDTANVAllied Nevada Gold achieves Q1 production and sales targets
Allied Nevada Gold reports that Q1 production and sales targets were achieved at its wholly owned Hycroft mine in Nevada. Preliminary first quarter 2014 production and sales were as follows: 60,114 ounces of gold produced, 412,506 ounces of silver produced, 59,470 ounces of gold sold, 406,234 ounces of silver sold. "Overall, we continue to see improved operational performance at Hycroft," commented CEO Randy Buffington. "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 dore. 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."

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