Allied Nevada Gold posts $245.6 million loss from operations for June

By Caroline Salls

Pittsburgh, July 31 – Allied Nevada Gold Corp. posted a $245.6 million loss from operations for June on $13.48 million in revenue, according to its monthly operating report filed Thursday with the U.S. Bankruptcy Court for the District of Delaware.

In May, the company reported a $5.76 million loss from operations on $12.63 million in revenue.

The June loss included $191.77 million in asset impairments, dispositions and net loss on assets classified as held for sale.

Allied’s net loss for June was $248.04 million, widening significantly from a $7.31 million may net loss.

The company also held $8.58 million in cash and cash equivalents as of June 30, up from $7.91 million at the end of May.

Allied Nevada is a Reno, Nev.-based gold and silver miner that filed for bankruptcy on March 10. Its Chapter 11 case number is 15-10503.

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