Alacer beats cost target

PRODUCER Alacer Gold says it achieved production targets and beat cost guidance for 2017, ending the year on what Alacer CEO Rod Antal described as a “high note” with production and costs improving in the December quarter and its expansion plans ticking along nicely.

Alacer beats cost target Alacer beats cost target Alacer beats cost target Alacer beats cost target Alacer beats cost target

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 ...

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