Business
Alacer Announces Exercise of Çöpler Option by Lidya Mining
TORONTO, Dec. 8, 2011 /CNW/ - Alacer Gold Corp. ("Alacer" or the "Company") [TSX:ASR, ASX:AQ...
About this update from Allied Strategic Resources Corp
[{"type":"text","content":"\n\n\n\n\n\nTORONTO, Dec. 8, 2011 /CNW/ - Alacer Gold Corp. (\"Alacer\" or the \"Company\") [TSX:ASR, ASX:AQG] announces that it has received notice from Lidya Madencilik San. ve\n Tic. A. Ş., (formerly, Çalık Maden İşletmeleri San. ve Tic. A.Ş.)\n (\"Lidya Mining\"), a subsidiary of Çalık Holding A.Ş., that it is\n exercising its call right pursuant to a shareholders' agreement to\n subscribe for a further 15% of the issued and outstanding shares of\n Anagold Madencilik Sanayi ve Ticaret A.Ş. (formerly, Çukurdere\n Madencilik Sanayi ve Ticaret A.Ş.) (\"Anagold\") for US$37.8 million.\n Anagold, a subsidiary of the Company, conducts the Company's primary\n development and extraction activities for the Çöpler gold operations.\n The purchase of the 15% of the issued and outstanding shares of Anagold\n will increase Lidya Mining's holdings in Anagold to 20% and is expected\n to close within 30-60 days. The shareholders' agreement among the\n Company, Kurudere Madencilik A.Ş., Anagold, Lidya Mining and Çalık\n Holding A.Ş. is dated August 12, 2009 and can be found on SEDAR at\n www.sedar.com.\n\n\nEdward Dowling, President and CEO of Alacer commented \"The take up of\n the full 20% by Lidya Mining under the shareholders' agreement is not\n only a vote of confidence in the Çöpler project, but strengthens our\n strategic relationship with one of the most respected organizations in\n Turkey. This strategic relationship has and continues to help\n strengthen the sustainability and the growth of the Company's mining\n interests in Turkey. We are very excited to continue to work with such\n an esteemed strategic partner.\"\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 &#...