WEBSITE: http://www.alliednevada.com/ Company Profile
Allied Nevada is a US-based gold mining and exploration company, which operates its wholly owned Hycroft gold mine located near Winnemucca, Nevada. The Company also owns more than 100 advanced and early stage exploration properties located throughout the State of Nevada. The Company's focus is on internal growth strategies, including the development of the Hycroft mine from a run-of-mine heap leach operation to a world-class, large-scale heap leach a milling operation. This will be accomplished through a logically staged growth plan involving the acceleration of the current mining rate for the heap leach operation, which is currently underway, construction of a gyratory crushing system expected to be completed mid-2013 and, pending completion of a revised feasibility study, construction of a milling facility to treat sulfide material. In 2013, gold production is expected to increase from 180,000-200,000 ounces and silver production is expected to be 0.9-1.1 million ounces.
We are completing a revised feasibility study for Hycroft which will indicate the economic benefit of building a sulfide processing plant. The plant is expected to consist of a milling and flotation circuit to create a concentrate and a concentrate oxidation process.
Beyond Hycroft, the Company has developed exploration programs at a number of its advanced exploration properties. The Company has completed several drill programs at the Hasbrouck Project, located near Tonopah, Nevada. Drilling in 2012 provided encouraging results at the nearby Three Hills, located five miles north of the main Hasbrouck deposit, and have indicated a number of targets which will be the focus of drilling in 2013. A PEA developed in 2012 has determined that a heap leach operation could be built with robust economic returns. Additional drilling is necessary to continue to improve the life of the mine and that will be the focus for the next year as we initiate the permitting process. Hycroft Operations
Operations at Hycroft currently involve open pit mining and run-of-mine heap leaching of oxide ore from the Brimstone and Bay pits. The Company has been increasing the mining rate over the last two years with the addition of larger scale mining equipment including Komatsu 320-ton haul trucks and Hitachi EX5500 shovels. In 2013, the first two wire rope shovels were brought into operation, one of which has double the capacity of an EX5500. Additionally, the gyratory crushing system and 21,500 gallon per minute Merrill-Crowe facility are expected to come online in Q3 2013 and are expected to improve overall heap leach recoveries and processing time for pregnant leach solution.
=========================================================================================================================================================================================== FINANCIAL RESULTS ANV $8.45 million Net Profit in 2009 and Revenue $43.2 million and Earning per share 13 cents in 2009 ANV $34.1 million Net Profit in 2010 and Revenue $139.9 million and Earning per share 41 cents in 2010 ANV $36.7 million Net Profit in 2011 and Revenue $152.0 million and Earning per share 40 cents in 2011 ANV $47.3 million Net Profit in 2012 and Revenue $214.5 million. and Earning per share 53 cents in 2012 http://www.alliednevada.com/investors/financials.aspx