The Canadian-based company, which has an 80% interest in the Copler mine in Turkey, delivered 168,163 ounces for an attributable 134,530oz at all‐in sustaining costs of US$686/oz for the year.
Gold production for the fourth quarter of 64,542oz was 91% higher than corresponding period in 2016 despite 5% lower oxide ore grades, with the company able to increase tonnage mined by 11%.
All‐in sustaining costs dropped 46% to $520/oz for the quarter.
Full year cash flow from the mine was $109 million delivering a net profit of $82 million, giving the company cash of $203 million, debt of $250 million, and $100 million in its undrawn finance facility.
Alacer begins 2018 with the Copler sulphide expansion project on target for first gold pour in the third quarter. It ...