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Allied Nevada loses $5.76 million in May on revenue of $12.6 million
By Kali Hays
New York, June 30 – Allied Nevada Gold Corp. posted a $5.76 million loss from operations for May on $12.63 million in revenue, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the District of Delaware.
For April, the company reported an operational loss of $3.27 million on revenue of $13.88 million.
Allied’s net loss for May was $7.31 million, widening from a $4.5 million net loss in April.
The company also held $7.91 million in cash as of May 31, down from $23.66 million as of April 30.
Allied Nevada is a Reno, Nev.-based gold and silver miner that filed for bankruptcy on March 10 in the U.S. Bankruptcy Court for the District of Delaware. Its Chapter 11 case number is 15-10503.
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