New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
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.
News For ANV From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 15, 2014
17:35 EDTANVAllied Nevada Gold reports preliminary Q3 gold production 49,630 oz
Subscribe for More Information
17:25 EDTANVAllied Nevada Gold provides summary of Hycroft mill expansion feasibility study
Allied Nevada Gold is pleased to provide a summary of the Hycroft mill expansion feasibility study results, completed by M3 Engineering and Technology in association with the Company. M3 developed the process flow sheet, capital cost estimate, operating cost estimate and financial model, while Allied Nevada developed the heap leach metrics, taxes, mineral reserves and mine plan. The feasibility study assumptions are largely the same as in the prefeasibility study issued in May, and continue to assume a two-phase construction plan for the mill expansion. A summary of the significant changes from prefeasibility to feasibility are highlighted below. Consistent with the prefeasibility study, the base case metal price assumptions of $1,300 per ounce gold and $21.67 per ounce silver have been utilized in the feasibility study. The feasibility is presented on a January 1, 2015, go-forward basis and the comparative prefeasibility results have been adjusted to reflect the same start time. The company intends to file a National Instrument 43-101 Technical Report within the 45-day regulatory timeframe.The capital has increased to $1.39B, up $66M, primarily resulting from the following: the change in construction of two 120kV power lines to one 345kV line to ensure reliable power availability; additional conveyors and crushed ore storage for the crushing/pre-crush and pebble crushing circuits; increased site general costs and confirmation of geotechnical analysis on required earthworks; and increased sizing for the thickener tanks. These increases were partially offset by a decrease in contingency reflecting the improved confidence level of the capital estimate with 88% of the estimated equipment capital costs now associated with vendor quotes.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use