Allied Nevada Gold Bounces 17% Off Near 52-Week Lows on Confirmation to Meet Production Goals

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Allied Nevada Gold ( ANV ) is up 17% at $13.95 and has touched above $14, bouncing off near 52-week lows hit on Monday, after the company said it's on track to meet its six-month production guidance of 90,000 to 100,000 ounces of gold.

Metal produced in the first quarter of 2013 was 38,019 ounces of gold and 188,000 ounces of silver with sales of 27,256 ounces of gold and 174,766 ounces of silver, it said. Allied Nevada expects to sell approximately 7,200 ounces of gold and 43,200 ounces of silver in the second quarter.

The company also said it's completing its expansion on time and on budget and that its Hycroft mine is beginning to perform.




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This article appears in: Investing , Commodities

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