Business
Alacer Gold announces 2013 year-end financial results and declares annual dividend
TORONTO , March 12, 2014 /CNW/ - Alacer Gold Corp. ( "Alacer" or the "Corporation" )...
About this update from Allied Strategic Resources Corp
[{"type":"text","content":"\n\n\nTORONTO, March 12, 2014 /CNW/ - Alacer Gold Corp. (\"Alacer\" or the \"Corporation\") [TSX: ASR and ASX: AQG] announced today that it has filed its financial results and related\n management's discussion and analysis (\"MD&A\") for the year ended\n December 31, 2013. The corresponding financial statements and MD&A are\n available on www.AlacerGold.com and on www.SEDAR.com. All currencies referenced herein are denominated in USD unless\n otherwise stated.\n\n\nRod Antal, Alacer's Chief Executive Officer, stated \"2013 was a transformative year for Alacer as the business was\n streamlined and refocused on our quality assets in Turkey. Our Çöpler\n Gold Mine achieved record annual gold production of 216,850\n attributable1 ounces, a 44% increase over 2012 at $864 All-in Costs2. Çöpler's excellent performance is expected to continue in 2014, with\n planned gold production forecast to be greater than 160,000\n attributable ounces at one of the lowest All-in Costs2 in the gold industry.\n\n\nThe strength of Alacer's business in Turkey is reflected in the Adjusted\n Net Profit2 of $111.7 million, or $0.39 per share, for 2013.  With a cash position\n at year end of $290 million3 and no debt, Alacer has a solid financial foundation to support our\n future plans. Based on these results, today the Board declared a\n dividend of $0.02 per share.\"\n\n\n2013 Highlights \n\n\nStrategic\n\n\n\nThe DFS for a 5,000 tonne per day whole-ore pressure oxidation\n processing method for Çöpler sulfide ore is progressing to plan and is\n on track to be released in Q2 2014.\n\n\nOn September 23, 2013 the Corporation released a four-year oxide\n production profile for Çöpler, highlighting the continued contributions\n through 2017 from its low-cost heap leach operation in Turkey.\n\n\nOn April 30, 2013, the Corporation paid a special dividend of $0.24 per\n share totaling $70.3 million.\n\n\nThe executive management team was reduced in conjunction with the\n Corporation's new strategy to focus on Turkey. The reductions will\n result in decreased general and administrative costs in 2014.\n\n\nThe Corporation divested its Australian assets during the year via two\n strategic transactions that completed on April 8 and October 29, 2103.\n\n\n\nOperational - Çöpler\n\n\n\nA milestone was pas...