Allied Nevada holds a number of early-stage exploration properties located throughout the State of Nevada. Based on annual holding fees, we hold approximately 110,283 (8,879 acres) of unpatented mining and 139 (4,226 acres) of patented mining claims in Nevada.
These properties generally do not have sufficient drilling or geologic investigation to define mineralized material. These may also include properties for which Allied Nevada does not have significant controlling interest or joint venture interest. Certain of these properties have been optioned and/or leased to other exploration companies for production royalties averaging approximately 3% advance minimum royalties and, on some of the properties, work commitments. We intend to pursue strategic options for these and the remaining grassroots exploration properties that could include further development through exploration programs, joint ventures, royalty agreements or the sale or release of the property.