Allied Nevada Reports Hycroft Crushing System Operational
June 16 2014 - 8:30AM
Marketwired
Allied Nevada Reports Hycroft Crushing System Operational
RENO, NEVADA--(Marketwired - Jun 16, 2014) - Allied Nevada Gold
Corp. ("Allied Nevada", "us", "we", "our" or the "Company")
(TSX:ANV) (NYSEMKT:ANV) reports that the temporary repairs to the
secondary and tertiary crushers have been completed and the
crushing system is back in operation. With these repairs completed,
we expect to be able to achieve our planned crushing rates of
approximately one million tons per month for the heap leach
operation. A permanent solution, bringing the crushing capacity to
that required for the mill operations, is being engineered and is
expected to be installed in the next year, well ahead of when it is
required for the mill expansion.
As stated previously, we do not anticipate any negative impact
to our full year production guidance due to the delay in bringing
the crusher online. The manufacturer has accepted responsibility
for the costs of the temporary and permanent repairs.
Cautionary Statement Regarding Forward Looking Information
This press release contains forward-looking statements
within the meaning of Section 27A of the U.S. Securities Act of
1933, as amended (the "Securities Act"), Section 21E of the U.S.
Securities Exchange Act of 1934, as amended (the "Exchange Act")
(and the equivalent under Canadian securities laws) and the Private
Securities Litigation Reform Act (the "PSLRA") or in releases made
by the U.S. Securities and Exchange Commission (the "SEC"), all as
may be amended from time to time. This cautionary statement is
being made pursuant to the Securities Act, the Exchange Act and the
PSLRA with the intention of obtaining the benefit of the "safe
harbor" provisions of such laws.
All statements, other than statements of historical fact,
included herein or incorporated by reference, that address
activities, events or developments that we expect or anticipate
will or may occur in the future, are forward-looking statements.
Generally, these forward-looking statements can be identified by
the use of forward-looking terminology such as "estimate", "plan",
"anticipate", "expect", "intend", "believe", "project", "target",
"budget", "may", "can", "will", "would", "could", "should",
"seeks", or "scheduled to", or other similar words, or negatives of
these terms or other variations of these terms or comparable
language or any discussion of strategy or intentions. Such
forward-looking statements include, without limitation, statements
regarding our future business strategy, plans and goals; risks
relating to the timing and efficacy of repairs to the crushing
system and the costs associated therewith; fluctuations in the
price of gold and silver; the availability and timing of capital
for financing the Company's expansion activities and other
statements that are not historical facts. Forward-looking
statements address activities, events or developments that Allied
Nevada expects or anticipates will or may occur in the future, and
are based on current expectations and assumptions. These statements
involve known and unknown risks, uncertainties, assumptions and
other factors which may cause our actual results, performance or
achievements to be materially different from any results,
performance or achievements expressed or implied by such
forward-looking statements. Important factors that could cause
actual results, performance or achievements to differ materially
from those in the forward-looking statements include, among others,
risks relating to fluctuations in the price of gold and silver;
uncertainties concerning restarting the crushing system, crushing
rates and permanent corrections of the crushing system;
uncertainties concerning reserve, resource and grade estimates; the
availability and timing of capital for financing the Company's
exploration, development and expansion activities; anticipated
costs, anticipated production, anticipated sales, anticipated
capital expenditures, project economics, net present values and
expected rates of return; the realization of expansion and
construction activities and the timing thereof; production
estimates; as well as those factors discussed in Allied Nevada's
filings with the SEC including Allied Nevada's latest Annual Report
on Form 10-K and its other SEC filings (and Canadian filings)
including, without limitation, its latest Quarterly Report on Form
10-Q (which may be secured from us, either directly or from our
website at www.alliednevada.com or at the SEC website www.sec.gov).
Although Allied Nevada has attempted to identify important factors
that could cause actual results, performance or achievements to
differ materially from those described in forward-looking
statements, there may be other factors that cause results,
performance or achievements not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove
to be accurate, as actual results, performance and achievements and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. The Company does not intend
to publicly update any forward-looking statements, whether as a
result of new information, future events, or otherwise, except as
may be required under applicable securities laws.
Allied Nevada Gold Corp.Randy BuffingtonPresident & CEO(775)
358-4455Allied Nevada Gold Corp.Tracey ThomVice President, Investor
Relations(775) 789-0119www.alliednevada.com