ANV Announces Positive GuidanceLet's see how the SP reacts.
The gold sector is a little overbought short term.
So a sector shakeout would not be unusual.
goldguy
RENO, NEVADA -- (Marketwired) -- 07/11/14 -- Allied Nevada Gold Corp. ("Allied Nevada" or the "Company") (TSX: ANV) (NYSE MKT: ANV) reports that second quarter 2014 production and sales targets were achieved at its wholly owned Hycroft mine in Nevada. Preliminary second quarter and year to date 2014 production and sales, as compared with production and sales in the comparative 2013 periods, were as follows:
Three months ended Six months ended June 30, June 30, ---------------------------------------- 2014 2013 2014 2013 ---------------------------------------- Ounces produced Gold 56,864 39,195 116,978 77,214 Silver 481,151 132,841 893,657 320,841 Ounces sold Gold 57,050 41,512 116,520 68,768 Silver 474,832 146,303 881,066 321,069
Hycroft continues to benefit from the increased mining capacity and process improvements that have been implemented to the heap leach operation over the last few years. As announced on June 16, 2014, the crushing system became operational in early June and, to date, we have crushed and placed more than 400,000 tons of ore on the heap leach pads.
Gold production and sales were 51% and 69% higher in the first half of 2014 when compared with the same period in 2013. The largest contributor to the recent production and related sales improvements was the increased processing capacity of the new Merrill-Crowe plant. Gold sales volumes generated from the carbon columns represented approximately 15% of the total gold sales volumes during the first half of 2014 compared with 27% of the total gold sales volumes for the first half of 2013. Silver production and sales in the first half of 2014 were not only more than double that of the same period in 2013, but also more than in all of 2013. We continue to be on track to meet our full year 2014 guidance estimates for both gold and silver.
We expect to issue second quarter 2014 financial results on August 4, 2014, after close of market. We plan on holding a conference call and webcast on August 5, 2014, to discuss these results followed by a question and answer session. A link to the listen-only webcast link can be accessed at www.alliednevada.com. To participate in the conference call, please dial:
Toll-Free in North America: 1-866-233-4585 / International: 416-640-5946