Business
Alacer Announces Closing of Çöpler Option to Purchase Additional Shares in Anagold by Lidya Mining
ENGLEWOOD, CO, Jan. 9, 2012 /CNW/ - Alacer Gold Corp. ("Alacer" or the "Company") [TSX:ASR...
About this update from Allied Strategic Resources Corp
[{"type":"text","content":"\n\n\n\n\n\nENGLEWOOD, CO, Jan. 9, 2012 /CNW/ - Alacer Gold Corp. (\"Alacer\" or the \"Company\") [TSX:ASR, ASX:AQG] is pleased to announce that further to its press release dated December\n 8, 2011, the closing of the sale of an additional 15% of the issued and\n outstanding shares of Anagold Madencilik Sanayi ve Ticaret A.Ş.\n (formerly, Çukurdere Madencilik Sanayi ve Ticaret A.Ş.) (\"Anagold\") has\n occurred pursuant to the exercise by Lidya Madencilik San. ve Tic.\n A.Ş., (formerly, Çalık Maden İşletmeleri San. ve Tic. A.Ş.) (\"Lidya\n Mining\") of a call right for US$37.8 million. Anagold, a subsidiary of\n the Company, conducts the Company's primary development and extraction\n activities for the Çöpler gold operations. The purchase of the 15% of\n the issued and outstanding shares of Anagold has increased Lidya\n Mining's holdings in Anagold to 20%. Lidya Mining was granted the call\n right pursuant to a shareholders' agreement among the Company, Kurudere\n Madencilik A.Ş., Anagold, Lidya Mining and Çalık Holding A.Ş. dated\n August 12, 2009 that can be found on SEDAR at www.sedar.com.\n\n\nAbout Alacer\n\n\nAlacer is a leading intermediate gold company with operations in both\n Australia and Turkey.\n\n\nAustralia\n\n\nAlacer has three operating gold mines in Australia, namely the\n Higginsville and South Kalgoorlie Operations; and a 49% interest in the\n Frog's Leg underground mine. The South Kalgoorlie Operations and the\n Frog's Leg interest were acquired following the successful takeover of\n Dioro Exploration NL, which was completed in March 2010.\n\n\nTurkey\n\n\nAlacer is recognized as a leader in exploration and development in\n Turkey and, with the start‐up of Çöpler, will soon be among Turkey's\n leading gold producers. Çöpler is 80% owned by Alacer and 20% by Lidya\n Mining.  Initial plans at Çöpler are to produce approximately 1.42\n million leachable ounces of gold at costs consistent with the lower end\n of industry standards. Average annual production is expected to be\n about 175,000 gold ounces. Additional production expansion from the\n sulfide gold reserve is expected to add 2.25 million ounces. A detailed\n feasibility study is underway. In addition, Alacer holds a ...