Business
Alacer announces 6% increase in gold production to 106,226 ounces for second quarter
TORONTO, July 24, 2012 /CNW/ - Alacer Gold Corp. ( "Alacer" or the "Company" ) [TSX: A...
About this update from Allied Strategic Resources Corp
[{"type":"text","content":"\n\n\n\n\n\nTORONTO, July 24, 2012 /CNW/ - Alacer Gold Corp. (\"Alacer\" or the \"Company\") [TSX: ASR and ASX: AQG] is pleased to announce second quarter 2012 mine production results for\n its operations in Turkey and Australia. Second quarter 2012 financial\n statements and the related management's discussion and analysis are\n planned to be released on August 14, 2012 (North America) and August\n 15, 2012 (Australia).\n\n\nSecond Quarter 2012 Highlights\n\n\nSecond quarter gold production totalled 106,226 ounces (attributable1: 95,984 ounces) which was 6% more than the gold production of 100,290\n ounces achieved in Q1 2012.\n\n\nSecond quarter gold sold totalled 108,844 ounces (attributable: 97,615\n ounces).\n\n\nÇöpler gold production for the quarter increased 15% to 51,212 ounces\n (attributable: 40,970 ounces) compared to Q1 2012, with ore production\n from the Marble and Main open pits ramping up following the relocation\n of the old Çöpler village.\n\n\nHigginsville gold production increased 6% to 35,227 ounces for the\n quarter compared to Q1 2012 as a result of increased plant throughput\n and ore sourced from three mines displacing the processing of low-grade\n ore stockpiles.\n\n\nChalice underground mine development proceeded ahead of schedule, with\n the initial development ore from the Atlas Lode delivered to the\n Higginsville treatment plant on June 15, 2012.\n\n\nAlacer's Board of Directors approved an exploration decline to access\n Higginsville's high-grade Corona deposit and for exploratory drilling\n from underground.\n\n\nGold production from South Kalgoorlie Operations (\"SKO\") for the quarter\n decreased 12% to 19,787 ounces compared to Q1 2012, largely due to rain\n limiting haulage of ore to the Jubilee plant from both the Frog's Leg\n underground mine and the Triumph open pit.\n\n\nEdward Dowling, President and CEO of Alacer, stated \"Alacer's gold production of 106,226 ounces for the second quarter was\n 6% more than the first quarter. Çöpler benefitted from the release of\n gold from ore stacked on the leach pads during the severe winter\n conditions in the first quarter. Higginsville's gold production is\n expected to increase over the course of 2012 with Chalice ore\n production ramping up over the coming months.\n\n\nOur guidance for 2012 gold production remains b...