Allied Nevada Gold (TSX: T.ANV, Stock Forum) Tuesday provided a summary of the updated mine plan and economics for the Hycroft Mine in Nevada. The revised mine plan supports a 19-year operating life and exploits the current mineral reserve of 12.7 million ounces of gold and 481.9 million ounces of silver.
The revised mine plan and economic model estimates 10-year average annual production of 582,260 ounces of gold and 29.1 million ounces of silver from 2015 to 2024, at an average adjusted cash cost of $166 per ounce.
Internal rate of return is projected to be 37%, with a Net Present Value of $1.6 billion, at a 6% discount.
"Hycroft continues to demonstrate positive economics and we are pleased with the revised mine plan as presented in the technical report," said Scott Caldwell, President and CEO of Allied Nevada. "As we grow the resource and continue to complete engineering and technical work, we expect to see further improvements to the project."
Allied Nevada Gold has a market capitalization of $2.69 billion based on 89,646,988 shares outstanding.