This company has now where but up to go in the coming mania. The only question is how high? They are on the mark an on the road just like CDE is. Watch the graphs close beginning in a couple of years to formulate the sell price some where between the years 2012 and 2015. Just follow the news releases on it. Some companies just do not need any further analysis. See below news release.
Allied Nevada reports best-ever Q3
By: Liezel Hill
22nd October 2010
TORONTO - Reno-based Allied Nevada Gold sold 30 585 oz of gold and 69 365 oz of silver in the third quarter, a new record for the company, it reported on Friday.
The average cost of sales in the quarter was around $416/oz of gold sold.
Allied Nevada said it expects to meet its 2010 production target of 100 000 oz of gold, at an average cost of sales of between $400/oz and $450/oz.
"We are pleased with the smooth operating performance at Hycroft with now three consistent quarters meeting production and cost expectations," CEO Scott Caldwell said in a statement.
"The mine is moving quickly on the first stage of its transformation with new larger mining equipment being introduced and the first crusher operating as expected."
Allied Nevada is working on an expansion of the capacity to mine and process oxide mineralization at Hycroft, which it announced in April this year.
The updated also announced in September it had updated a scoping study on a project to develop the underlying sulphide resource at its Hycroft mine, and is looking at a much bigger milling facility than previously indicated in an April 2010 study.
Production is forecast at 610 000 oz of gold and 27-million ounces of silver a year (altogether 1,1-million ounces of gold-equivalent), from a combined 100 000-t/d milling operation and 74 000-t/d heap-leach operation, the company said at the time.
Edited by: Liezel Hill
