RENO, Nev. - Shares in Allied Nevada Gold Corp. (TSX:ANV) were up more than 20 per cent Monday after the company reported that improvements at its Hycroft mine helped it to record production in the third quarter.
The miner said pumping capacity and fresh water availability have increased at the Hycroft operation in Nevada to meet processing requirements.
Allied Nevada said the Hycroft mine produced a record 52,198 ounces of gold and 184,070 ounces of silver in the third quarter, while it sold 52,713 ounces of gold and 184,082 ounces of silver.
The company said it was on track to achieve full-year production and sales guidance of 175,000 to 200,000 ounces of gold and 900,000 to 1.1 million ounces of silver this year.
In addition to the Hycroft mine, Allied Nevada owns the Hasbrouck project in Nevada as well as several exploration properties in the state.
Shares in the company were up 79 cents at $4.70 in morning trading Monday on the Toronto Stock Exchange.
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