The news feeds on this site are independently provided by Adfero Limited © and do not represent the views or opinions of the World Gold Council.

Friday, 20th March 2009 (1666 views)

Allied Nevada Gold has revealed that it is planning to commission its mining and processing operations by the middle of 2009, having produced its first gold at the Hycroft mine in 2008.

According to the firm's financial results for 2008, the capital programme and development phase at the Hycroft Mine was completed and total gold production for the December was around 1,000 ounces.

Gold produced in December has been sold during the first quarter of 2009 and Allied Nevada Gold predicted that the ore release portion of the first phase of mining will be entered soon.

The Hycroft Mine is currently operating at its planned capacity of 2.1 million tonnes of ore and waste mined per month and ore under leach will gradually increase during the first half of the year.

Previously announced total proven and probable reserves consist of 73,159,000 tonnes of ore containing 1,143,758 ounce of gold, determined in October 2008.

Based in Reno, Nevada, the mining company operates a number of prospective exploration claims as well as the Hycroft mine and plans to reach normal annualised production rates of 90,000 ounces of gold by mid-2009.

 

« Back to Gold News stories