Allied Nevada Gold Corp. (TSX: ANV) has started the first phase of the oxide expansion at its 100% owned Hycroft Mine. The mine is positioned close to Winnemucca, NV. After the closing of the C$283.5 million cross border financing, the Company started ordering the first of the mobile equipment needed to accelerate the oxide mining rate to 80 million tons per year.
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The purchases included a 35.5 year class hydraulic shovel, two 320-ton class haul trucks and ancillary support equipment. The equipment is believed to be delivered in the 3rd and 4th quarters of 2010. When received, the mine will start pre-stripping waste material which should allow for access to new areas earlier than originally planned.
Allied Nevada has also announced that they are on track to complete the 3.5 million sq/ft leach pad expansion in the third quarter of 2010. So far 1/3 of the expansion has been lined and is beginning to accept new ore.
Allied Nevada is a US-based gold mining and exploration company, which operates its wholly owned open pit Hycroft Mine, located near Winnemucca, Nevada. The Company also owns a number of advanced and early-stage exploration properties located throughout the State of Nevada.
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