Posted in | News | Mining Business

Allied Nevada Gets Nod to Sell Exploration Properties and Related Assets to Clover Nevada

Allied Nevada Gold Corp. ("Allied Nevada", "us" or the "Company") announces that the United States Bankruptcy Court for the District of Delaware has approved the sale of Allied Nevada's exploration properties and related assets (excluding the Hycroft operation) (collectively, the "Acquired Assets") to Clover Nevada LLC ("Clover Nevada"), a wholly-owned subsidiary of Waterton Precious Metals Fund II Cayman, LP ("Waterton").

The Acquired Assets consist of 75 mineral exploration properties and assets encompassing approximately 165,000 acres of land in the State of Nevada. The Acquired Assets include all of Allied Nevada's patented and unpatented mining claims and rights associated with properties other than Hycroft, including any royalties or similar interests. Pursuant to the Asset Purchase Agreement ("APA") entered into between Allied Nevada and certain of its wholly-owned subsidiaries and Clover Nevada, Clover Nevada will pay us $17.5 million for the Acquired Assets upon closing of the transaction. Successful closing of the transaction is subject to customary closing conditions as set out in the APA and is expected to be completed by the end of June 2015.

A copy of the APA can be found at under Exhibit C to Docket 133.

About Waterton

Waterton is a leading mining-focused private equity firm dedicated to developing high quality precious and base metals projects located in stable jurisdictions. Waterton's cross-functional, fully-integrated, in-house team of professionals have significant mining, financial and legal expertise. Waterton's proactive approach to asset management, significant sector knowledge and ability to leverage extensive industry relationships has resulted in a strong track record of managing investments in the metals sector. Additional information about Waterton is available online at


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