Alacer downgrades guidance

TURKEY miner Alacer Gold has substantially cut its production expectations at its heap leach Çopler project after mining delays in accessing higher grade ore.

Alacer downgrades guidance Alacer downgrades guidance Alacer downgrades guidance Alacer downgrades guidance Alacer downgrades guidance

Production for the year is now forecast to be in the range of 115,000-125,000 ounces at all-in sustaining costs of $US900-950/oz – versus the previous 150,000-170,000oz at $780-830/oz.

Ore capable of yielding the original target has now been mined and stacked, but the flow of leached solution coming from the leach pad has been slower than anticipated.

Alacer pointed out that ounces not forthcoming in 2016 would materialise in 2017, though it be giving guidance on output and costs in 2017 until early in the New Year – as is its custom.

Meanwhile the company said it is looking at opportunities to extend its oxide, heap leach production, and still expects its new sulphide project under construction...

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