HYCROFT RESOURCES & DEVELOPMENT INC. Allied Nevada …
Download
Report
Transcript HYCROFT RESOURCES & DEVELOPMENT INC. Allied Nevada …
HYCROFT RESOURCES & DEVELOPMENT INC.
Allied Nevada Gold Corp.
Evolving U.S. Gold and Silver Producer
HISTORY & MILESTONES
Reports positive mill
expansion feasibility study
Increases reserves to 10.2
mm ozs Au and 388.6 mm
ozs Ag
$3.0
ALLIED NEVADA:
Allied Nevada
acquires Vista’s
Nevada assets and
the mineral assets
of Carl Pescio
Completes crossborder financing
for gross proceeds
of US$91.3 million
Hycroft resource
estimate of 5.2 mm
ozs Au and 75 mm
ozs Ag
Private
placement
raising US $15.6
million
2008
Allied Nevada
incoroported
as wholly
owned
subsidiary of
Vista Gold
Board
approves reopening of
Hycroft Mine
Equity financing
raising US$67.7
million
2011
Further increases
reserves to 12.7 mm
oz Au and 481.9 mm
ozs Ag
2010
2009
2007
Reports doubling of
reserves to 2.4 mm
ozs Au and 32.3
mm ozs Ag
First gold
production
from Hycroft
Announces expansion
opportunities for Hycroft
Completes crossborder financing
for gross proceeds
of US$270.5 million
Market Capitalization (billions)
LOGICAL | RESPONSIBLE | GROWTH | VALUE
2012
Allied Nevada
becomes publically
traded company
listed on the TSX
and Amex
exchanges
$0.3
2
ALLIED NEVADA:
LOGICAL | RESPONSIBLE | GROWTH | VALUE
Enviable Production Growth Profile: Gold
Hycroft Initial Capital Expenditures (millions)
$220
$270
$374
$325
3
Hycroft: Expansion Progress
•
Mining rate continues to increase with the ongoing implementation of larger mining
equipment
– By year end 2011 the Company had added:
ALLIED NEVADA:
LOGICAL | RESPONSIBLE | GROWTH | VALUE
2 x EX 5500 Hitachi hydraulic shovels (pictured below)
2 x EX 3500 Hitachi hydraulic shovels
7 x 320-ton Komatsu haul trucks (pictured below)
2 x Pit Viper production drills
• Major infrastructure upgrades and increased processing capabilities initiated and/or
completed in 2011
4-bay truck shop for larger mining equipment (completed)
Increase pumping capacity to the leach pads
Increased solution processing capabilities of the Merrill Crowe facility from 5,000 gpm to
8,000 gpm (completed)
Increased Brimstone leach pad space to 9.1 mm square feet (completed)
Complete construction of Lewis leach pad for an additional leach pad space of 3.0 mm
square feet (completed in Q1 2012)
4
Taxes and Fees
•
•
•
•
•
2011
Property Taxes
Permit Fees
Net Proceeds Tax
Sales Tax
Employer Taxes
$660k
$180k
$2.3M
$5.1M
$1.4M
Total
$8.7M
•
•
•
•
•
2012 Estimate
Property Taxes
$860k
Permit Fees
$180k
Net Proceeds Tax
$6.1M
Sales Tax
$13.8M
Employer Taxes
$1.8M
Total
$22.5M
Workforce
•
•
•
•
•
•
•
2008 – 102 Employees
2009 – 157 Employees
2010 – 209 Employees
2011 – 276 Employees
2012 – 370 Employees
2011 Labor Cost $25.4M – 2012 Labor Cost $29.1M
Over 1,500 contractor employees on site in 2011
Hycroft EIS
• Draft EIS is currently in the public
comment phase
• Comment Period Ends March 12th
• The BLM process is about a month
ahead of the original schedule
• Record of Decision in August 2012