The revised mine plan for the Hycroft mine in Nevada supports a 19-year operating life and exploits the current mineral reserve of 12.7 million ounces of gold and 481.9 million ounces of silver (1.1 billion tons grading 0.011 opt Au and 0.42 opt Ag), Allied Nevada Gold Corp. reported this morning. The following operating...
A preliminary economic assessment for its North Bullfrog project in Nevada says the gold mine will produce 57,700 opy over 12.8 years, paying back its initial capital of $68.8 million in 2.6 years, Corvus Gold Inc. reported this morning. This independently prepared PEA is based on the company’s Nov. 7, 2011 resource estimate and...
Hecla and Coeur, the traditional big silver producers in the Northwest, both set several financial records in 2011 as the price of precious metals remained high and as they optimized their production at various mines around the Americas. Hecla Mining Co. said Tuesday that it produced record 2011 revenue of $477.6 million and gross profit...
Nevada Copper Corp. broke ground for its underground copper mine at Pumpkin Hollow Saturday, assisted by Gov. Brian Sandovol, who turned the first shovel of dirt, and other dignitaries. Others participating at the beginning of the $1 billion copper project were Joe Dini, former Speaker of the Nevada State Assembly and lifelong resident of Yerington,...
A feasibility study for its Mt. Hamilton property in eastern Nevada says a mine there would have “robust economics” with excellent potential for developing additiona resources, Solitario Exploration & Royalty Corp. said this morning. With an initial capital cost of $71.9 million and per-ounce costs of $535 per ounce, the open-pit mine would provide 120...
The Sichuan branch of the China Development Bank has confirmed the basic terms underlying a proposed $665 million term loan to finance the Mt. Hope molybdenum project in Nevada, General Moly Inc. confirmed yesterday. While there are no binding commitments at this time, the loan facility will now progress through drafting and syndication and...
Rep. Mark Amodei of Nevada’s 2nd Congressional District has introduced “Yerington Land Conveyance and Sustainable Development Act” in the House to transfer lands now managed by the BLM to Nevada Copper Corp., the company reported this morning. Co-sponsors of the act are Rep. Shelley Berkley and Rep. Joe Heck. The bill would convey approximately...
Allied Nevada Gold Corp. has been ordering critical long-lead mining and processing equipment for its expansion projects at the Hycroft gold/silver mine in Nevada and has come in 2% under the feasibility estimates. The Nevada mining company said this morning that to date, it has spent or committed $354.9 million, 2% below the feasibility estimate....
