Big gold quarter underway for Alacer

TURKEY miner Alacer Gold says it is on track to meet the lower end of its annual guidance after a third quarter performance that saw 39,312 ounces produced at the Copler operation including 18,741oz in the month of September.

Big gold quarter underway for Alacer Big gold quarter underway for Alacer Big gold quarter underway for Alacer Big gold quarter underway for Alacer Big gold quarter underway for Alacer

The miner’s all-in-sustaining-costs (AISC) for the third quarter were US$623 per oz.

A big December quarter is now in train given guidance for 2017 was 160-180,000oz (at AISC $750-800/oz), and Copler’s output of 103,621oz in the first three quarters.

Meanwhile the under-construction sulphide project that is the future of the Copler operation is said to be under-budget and on-schedule for first gold in the third quarter of 2018.  

The project is expected to cost $719 million, with $431 million of capex already incurred.   

Alacer reported cash of $252 million and a $100 million undrawn facility.

Shares in Alacer were off 3% to A$2.08 in early trade, capitalising the ...

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