Allied Nevada Gold Corp Produces 238,800 ounces of Silver in Q4 at Hycroft

Allied Nevada Gold Corp. (TSX:ANV, AMEX:ANV, NYSE:ANV) announced operating results from Q4 2012 and guidance for 2013.

As quoted in the market report:

Production at Hycroft in the fourth quarter of 2012 was approximately 46,900 ounces of gold and 238,800 ounces of silver and sales were 41,745 ounces of gold and 214,902 ounces of silver. We achieved record production and sales in the fourth quarter, however we did not meet stated guidance primarily due to slower than anticipated leach kinetics from Bay pit material placed on the leach pads in the third and fourth quarter and extremely cold and wet weather conditions in December. We continue to expect ultimate recovery of 51% for gold and 11% for silver for Bay pit material.

Allied Nevada’s President and CEO, Scott Caldwell, said:

Our most impressive accomplishments this year have been in advancing our permitting ahead of expectation which has cleared the path for construction and operation of the gyratory crusher and commencement of construction of the mill.

To view the whole press release, click here.