Current Report Filing (8-k)
Date : 01/21/2015 @ 9:20AM
Source : Edgar (US Regulatory)
Stock : Allied Nevada Gold Corp. (ANV)
Quote : 1.2799 -0.0501 (-3.77%) @ 12:23PM
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 21, 2015
ALLIED NEVADA GOLD CORP.
(Exact name of Registrant as Specified in Its Charter)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.02
Results of Operations and Financial Condition.
On January 21, 2015 Allied Nevada Gold Corp. (the “Company”) issued a press release reporting the Company’s preliminary fourth quarter 2014 sales and production results. A copy of the press release is attached as Exhibit 99.1 hereto and is incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the information in this Item 2.02 including the press release attached as Exhibit 99.1 hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01
Financial Statements and Exhibits.
(d) Exhibits
Exhibit
No.
Exhibit
99.1
Press release of Allied Nevada Gold Corp. dated January 21, 2015.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: January 21, 2015
Allied Nevada Gold Corp.
By:
/s/ Stephen M. Jones
Stephen M. Jones
Executive Vice President and Chief Financial Officer
EXHIBIT INDEX
Exhibit
No.
Exhibit
99.1
Press release of Allied Nevada Gold Corp. dated January 21, 2015.
Exhibit 99.1 Press Release
Allied Nevada Announces Preliminary Full Year 2014 Gold and Silver Sales
Increase 19% and 115%, Respectively, Year-Over-Year
January 21, 2015 | Reno, Nevada - Allied Nevada Gold Corp. (“Allied Nevada” or the “Company”) (TSX: ANV; NYSE-MKT: ANV) provides full year preliminary production and sales for 2014 and an update on the status of the mill expansion financing process. In 2014, we increased production by 12% for gold and more than doubled the silver production compared with 2013. Full year 2014 production and sales, as compared with 2013, were as follows:
Years ended
December 31,
2014 vs 2013
2014
2013
Increase
SALES
Gold ounces
216,937
181,941
19%
Silver ounces
1,841,737
858,073
115%
PRODUCTION
Gold ounces
214,345
190,831
12%
Silver ounces
1,818,637
882,225
106%
“In 2014 we achieved a number of key goals, including completing positive prefeasibility and feasibility studies for the Hycroft mill project, increasing production and improving efficiency at the mine. While we did not hit our original production and sales targets for the year, we believe we have learned from our 2014 efforts and benefited from our focus on costs,” commented Randy Buffington. “I believe the work done in 2014 will position us well in 2015 as we continue to concentrate on operational improvements and cash generation.”
The increase in gold and silver production in 2014 resulted primarily from the higher mining rate year-over-year and the resultant additional ore tons placed on the leach pads, together with the increased processing capacity of the North Merrill-Crowe plant. The North Merrill-Crowe plant was also a significant contributor to the more than doubling in silver production and sales as it is much more efficient at recovering silver from process solution than the carbon columns.
We anticipate 2015 operating results to be very similar to 2014 in terms of production and sales, with our focus continuing to be on improving mining efficiencies and costs. We expect to provide more details on our 2015 guidance at the end of February, along with our 2014 financial results.
Mill Financing Update
Throughout the financing process we have received significant interest in the Hycroft mill project, but to date have not secured a path forward. Our progress has been hindered in part by the volatile market and commodity price conditions experienced throughout the year. Given the interest level in the Hycroft mill project and our belief in the compelling economics of the project, we are continuing with the process while we also explore other options to maximize our liquidity and improve the current heap leach operation.
Exhibit 99.1 Press Release
For further information on Allied Nevada, please contact:
Randy Buffington
Tracey Thom
President and CEO
Vice President, Investor Relations
(775) 358-4455
(775) 789-0119
or visit the Allied Nevada website at www.alliednevada.com.
