Business
Alacer Gold announces 2011 year-end financial results
TORONTO, March 21, 2012 /CNW/ - Alacer Gold Corp ( "Alacer" or the "Corporation" ) [TS...
About this update from Allied Strategic Resources Corp
[{"type":"text","content":"\n\n\n\n\n\nTORONTO, March 21, 2012 /CNW/ - Alacer Gold Corp (\"Alacer\" or the \"Corporation\") [TSX: ASR and ASX: AQG] announced financial results today for the year ended December 31, 2011,\n with Alacer adding $63 million in cash during the fourth quarter to\n finish the year with $250 million in cash.\n\n\nMr. Edward Dowling, President and CEO of Alacer stated, \"2011 was a busy\n and exciting year for Alacer. The Corporation successfully brought the\n Çöpler Gold Mine into production and completed the merger with Avoca\n Resources Limited, catapulting the new Alacer into the mid-tier gold\n producer ranks.\"\n\n\n2011 production totaled 421,204 gold ounces, with 411,933 ounces\n attributable to Alacer. This exceeded revised guidance of 405,000\n attributable ounces. Cash operating costs1 per ounce sold and total cash costs1 per ounce sold were $550/ounce and $650/ounce, respectively, consistent\n with revised guidance. The successful ramp up at Çöpler continued with\n production of 57,800 ounces in the fourth quarter, a 9% increase over\n the previous quarter.\n\n\nAlacer's mines generated a mining gross profit of $228 million for the\n year, or $662/ounce. Alacer reported adjusted net profit2 attributable to owners of the Corporation of $130 million, or $0.50 per\n share. Net profit attributable to owners of the Corporation was $75\n million, or $0.29 per share.\n\n\nMr. Dowling added, \"Our exploration efforts during 2011 were successful\n and we have recently announced resource and reserve increases in both\n Turkey and Australia and the new Corona discovery at Higginsville.\"\n\n\nAll financial amounts are presented on an unaudited basis.\n\n\nConference Call Details\n\n\nThe Corporation will host a conference call on Wednesday, March 21 at\n 5:00 pm (North American Eastern Daylight Time) and Thursday, March 22\n at 8:00 am (Australian Eastern Daylight Time). The presentation for the\n conference call is available at www.AlacerGold.com.\n\n\nYou may participate in the conference call by dialing:\n\n \n \n\n1-877-548-7913 \n1-800-617-345  \n800-968-835  \n800-101-2323  \n0-808-1071-7162 \n1-719-325-4813 \n\n\nfor U.S. and Canada\nfor Australia\nfor Hong Kong\nfor Singapore\nfor United Kingdom\nInternational\n\n \n \n\n3660645\n\n\nConfe...