The Conversation (0)
Allied Nevada Gold Corp.(TSX:ANV,NYSE:ANV) announced operating results for Q2, including production of 39,195 ounces of gold and 132,841 ounces of silver.
Allied Nevada Gold Corp.(TSX:ANV,NYSE:ANV) announced operating results for Q2, including production of 39,195 ounces of gold and 132,841 ounces of silver.
As quoted in the press release:
Production and sales in the first half of 2013 did not meet guidance primarily as a result of metals not being released from the Lewis leach pad as expected. We have determined that a significant portion of the ore placed on the Lewis leach pad in late 2012 and early 2013, when the mining rate was increasing significantly, had not been properly leached due to insufficient solution application. We have begun a program to remediate the Lewis leach pad, and have completed the first step by identifying dry areas through drilling and geophysics. Drilling and metallurgical data obtained is being used to design a program that will introduce process solutions directly into these dry areas. We expect to receive permits in August to allow us to increase solution flow to the pads. It is anticipated that we will begin to see incremental production increases from the Lewis leach pad in the fourth quarter.
Allied Nevada’s President and CEO, Randy Buffington said:
In the last five months I have uncovered a number of previous operating errors that have set the mine back in achieving targets.While disappointing, these issues are not insurmountable and I am confident that the operating team we have in place and the steps they’re taking to remedy the issues will turn things around, though not without impacting production and sales guidance for the year. Additionally, we are pursuing other initiatives to reduce costs, including eliminating all exploration activities and reviewing staffing requirements and corporate general and administrative costs.
To view the whole press release, click here.
