Allied Nevada (ANV -11.6%) announces Q1 earnings of $0.10/share, beating consensus of $0.06, and...


Allied Nevada (ANV -11.6%) announces Q1 earnings of $0.10/share, beating consensus of $0.06, and a 25% rise in revenues to $49.2M. But shares plunge on a bought-deal purchase of 14M shares of common shares at $10.75 by a syndicate of underwriters; proceeds will be used to fund capex at the Hycroft Mine in Nevada, which is expected to produce 225K-250K oz. of gold in 2013.

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Comments (5)
  • Jason Burack
    , contributor
    Comments (2147) | Send Message
     
    This is still a quality gold/silver project and it is generating revenues and now earnings. Short term pain, long term gain. Maybe it's a takeover candidate?
    30 Apr 2013, 12:29 PM Reply Like
  • Jason Burack
    , contributor
    Comments (2147) | Send Message
     
    I wonder if they tried to fund some of this capex instead via royalty/streaming first?
    30 Apr 2013, 12:40 PM Reply Like
  • ManoLive
    , contributor
    Comments (450) | Send Message
     
    Man, I was short that trade last week, but exited when GOLD went up. Now I wish I'd have stayed in. Missed out on at least $6000 .
    30 Apr 2013, 02:04 PM Reply Like
  • The_Hammer
    , contributor
    Comments (5046) | Send Message
     
    just another example of miner mis-management and it is rampant across the industry, but since they put themselves into this position probably best capital fund raising effort since credit/debt has been nearly shut off to jr miners. a little amateurish in that mgt said no equity would be used for capital raise just a few weeks ago.
    30 Apr 2013, 02:53 PM Reply Like
  • Brian Bobbitt
    , contributor
    Comments (2083) | Send Message
     
    I have been long saying, stay away from the miners. I say again. 'use silver ETF SLV, and keep it until things get real bad, sell it, get the cash and buy eagles. I would be buying Ag eagles anytime they are on sale. ( down in price )
    Capt. Brian
    The Au X Ag ratio is 60.78 to one, either silver has fallen from grace, or we are staring the best percentage move in history in the face. I say, as my article says, NOW, go for Ag (silver). Now is the time. below the price of 26.26 is bargain level. So near the basement, you will long forget preceisely where Ag went to before it took off.
    30 Apr 2013, 11:09 PM Reply Like
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