Business
Alacer Gold announces a 15% increase in 2013 production guidance at Çöpler
TORONTO , Sept. 23, 2013 /CNW/ - Alacer Gold Corp. ( "Alacer" or the "Corporation" )...
About this update from Allied Strategic Resources Corp
[{"type":"text","content":"\n\n\nTORONTO, Sept. 23, 2013 /CNW/ - Alacer Gold Corp. (\"Alacer\" or the \"Corporation\") [TSX: ASR and ASX: AQG] is pleased to announce that gold production guidance for the Çöpler\n Gold Mine has increased to 192,000 - 200,000 attributable1 ounces for 2013.\n\n\nRod Antal, Alacer's Chief Executive Officer, commented \"Çöpler continues\n to perform at a high level with record quarterly production of more\n than 68,000 ounces in the second quarter.  This great performance has\n led to a 15% increase in our gold production guidance.  Positive ore\n reconciliations are continuing in the Manganese Pit, and gold\n recoveries are improving as effectively all ore is now agglomerated\n when stacked on the leach pad.\"\n\n\n\n\n\n2013Calendar Year\n\n\nAttributable Gold Production(ounces)\n\n\nCash Operating Costs2($/oz)\n\n\nTotal Cash Costs2($/oz)\n\n\nAttributable CapEx ($ millions)\n\n\nRevised Guidance\n\n\n192,000 to 200,000\n\n\n375 to 390\n\n\n405 to 425\n\n\nunchanged\n\n\nPrevious Guidance\n\n\n162,000 to 178,000\n\n\n340 to 375\n\n\n385 to 425\n\n\n52\n\n\n\n\n\nThe mining plan changed earlier this year which postponed the Manganese\n Pit south pushback. Waste tonnes related to the Manganese Pit pushback\n would have been capitalized; however, the revised mine plan included\n waste stripping for oxide ore that is appropriately expensed. The shift\n in the waste production profile has resulted in an increase in our cash\n operating cost guidance.\n\n\nGuidance for Çöpler's attributable capital expenditure remains unchanged\n and primarily relates to construction of a SART plant and a\n clay-handling circuit. Additionally, annualized reductions of\n approximately $16 million have already been made to Alacer's general\n and administrative costs.\n\n\nÇöpler Oxide Four Year Production Profile\n\n\nA preliminary mining schedule has been generated from the recent Mineral\n Resource estimate announced on July 25, 2013.  Based on this schedule,\n preliminary production guidance for heap-leaching oxide ore over the\n coming four years is provided in the table below.\n\n\n\n\n\nÇöpler\n\n\n \n\n\n2014\n\n\n2015\n\n\n2016\n\n\n2017\n\n\nWaste tonnes mined (100%)\n\n\n(millions)\n\n\n27\n\n\n27\n\n\n27\n\n\n21\n\n\nSulfide tonnes mined (100%)3\n\n(millions)\n\n\n1.0\...