Business
Alacer Gold announces changes to its Board of Directors
TORONTO , June 30, 2014 /CNW/ - Alacer Gold Corp. ( "Alacer" or the "Corporation" ) ...
About this update from Allied Strategic Resources Corp
[{"type":"text","content":"\n\nTORONTO, June 30, 2014 /CNW/ - Alacer Gold Corp. (\"Alacer\" or the \"Corporation\") [TSX: ASR and ASX: AQG] announced today that Jan A. Castro has tendered his resignation from the Board of Directors (the \"Board\"), effective immediately. The Board has begun a process to appoint a new independent director to join the Corporation's Board and has engaged an independent third party to assist with the identification and evalution process. \n\nMr. Edward Dowling, Chairman of the Board, commented, \"On behalf of the Board and Alacer's shareholders, I would like to thank Jan for his service as a Non-Executive Director of the Corporation. Jan has served on the Board for over 7 years and has been an integral part of the development of the Çöpler project from an exploration venture into one of the lowest cost gold mines in the world that will deliver high margin ounces for the next 20 years. We wish him continued success and the best of luck in his future endeavors.\"\n\nMr. Jan Castro commented, \"I would like to congratulate Rod and his team for the tremendous strides that Alacer has made over the past year.  With the release of the DFS and the ongoing team strengthening, the company is now well positioned for its next phase of growth as one of the industry's lowest cost gold producers.  I wish the company and team the very best success as they deliver on this exciting opportunity.\"\n\nAbout Alacer \n\nAlacer Gold Corp. is a leading intermediate gold mining company and its world-class operation is the 80% owned Çöpler Gold Mine in Turkey. Alacer also has 11 active exploration projects in Turkey which are joint ventures with our Turkish partner Lidya Mining.\n\nDuring 2013, Çöpler produced 216,850 attributable1 ounces at an All-In Costs2 of $864 per ounce. \n\n\n\n\n1 \n\n\nAlacer has an 80% controlling interest at Çöpler.\n\n\n\n2 \n\n\nAll-in Costs is a non-IFRS financial performance measures with no standardized definition under IFRS. For further information and detailed reconciliations, see the \"Non-IFRS Measures\" section of the MD&A for the quarter ended March 31, 2014.\n\n \n\nÇöpler is currently an open-pit, heap-leach operation that is producing gold from oxide ore. In June 2014 a Definitive Feasibility Study was completed on treatment of sulfide ore vi...