Allied Nevada Gold Corp. announced preliminary operating results for the fourth quarter and full year of 2012. In the fourth quarter of 2012, the company mined material totaling 19.3 million tons, including 2.7 million tons of waste, 1.8 million tons of stockpiled mill material and 14.8 million tons of ore placed on the leach pads at average grades of 0.012 ounces per ton gold and 0.11 opt silver. Ounces placed on the leach pads in the fourth quarter totaled approximately 175,900 ounces of gold and 1.6 million ounces of silver. Production at Hycroft in the fourth quarter of 2012 was approximately 46,900 ounces of gold and 238,800 ounces of silver and sales were 41,745 ounces of gold and 214,902 ounces of silver.

In 2012, tons mined totaled 60.7 million tons, including 27.1 million tons of waste, 3.3 million tons of stockpiled mill material and 30.3 million tons of ore placed on the leach pads at average grades of 0.012 opt gold and 0.21 opt silver. Total ounces placed on the leach pads in 2012 were approximately 371,000 ounces of gold and 6.5 million ounces of silver.

The company provided production guidance for 2013. Gold and silver sales at Hycroft are expected to increase in 2013 to approximately 225,000 to 250,000 ounces of gold and 1.5 million to 1.8 million ounces of silver. Sales in the first half of the year are expected to be approximately 90,000 to 100,000 ounces of gold, increasing in the second half of the year. Expects to move 94.1 million tons of material, including 46.5 million tons of ore at average grades of 0.012 opt gold and 0.25 opt silver. With the operation of the two wire rope shovels in the latter half of the year, the mining rate for the first half is expected to average 200,000 tons per day and will increase to average 290,000 tons per day in the second half. The overall strip ratio for 2013 is expected to be 0.6:1. A number of critical projects must be completed to achieve the higher end of the stated guidance range of metal sales. The stated guidance assumes that there will be no material delays in the start-up of the North Leach Pad, new Merrill-Crowe facility or operation of additional mobile equipment. Adjusted cash cost for 2013 is expected to be in the range of $565 to $585 per ounce (with silver as a byproduct credit). Capital expenditures in 2013 are expected to total approximately $374.0 million, of which $130.8 million is expected to be financed with capital leases. Of the $374.0 million in capital expenditures expected in 2013, $21.7 million is for sustaining capital and the remainder is to advance the Hycroft expansion project and includes equipment, infrastructure, engineering, permitting, and support programs. Major additions to mobile equipment in 2013 include nine haul trucks, seven production drills and the first two wire rope shovels, which are expected to become operational in the third quarter and fourth quarter, respectively. Expects to begin stacking ore on the new leach pad expansion, the north leach pad, by the end of the second quarter of 2013. In addition, the gyratory crushing system and 20,000 gallon per minute Merrill-Crowe facility are expected to come online in the third quarter of 2013. Company-wide exploration expense is projected to be $7.5 million in 2013 and does not include capitalized drilling.