But until recently, owner Allied Nevada wasn't sure what it was going to do with its stockpile of material, which had grown to an estimated 162 tons of carbon by late April.
The uncertainty came to an end this month, though, when the company signed an agreement to process the carbon at Yukon-Nevada's Jerritt Canyon milling facility near Elko.
The company now anticipates that it will be able to process its entire stockpile within 90 to 120 days from the date that the agreement took effect. Beyond that initial period, Allied Nevada estimates that Jerritt Canyon could process between 15 to 30 tons of carbon per month from the Hycroft.
The deal with Yukon-Nevada eliminates the need to build an on-site carbon processing facility at the Hycroft. It's also expected to improve the timing of sales from that carbon, which contained roughly 13,300 ounces of gold and 36,900 ounces of silver as of April 30.
The company says the terms of its agreement are in line with previous arrangements at other off-site processing facilities.
Those previous arrangements came to an end in the fourth quarter of 2011, when the company received word that its third-party processor would no longer accept additional shipments from the Hycroft.
For more information, go to: www.alliednevada.com.
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