Business
Alacer Gold announces changes to the Board
TORONTO, Aug. 24, 2011 /CNW/ - Alacer Gold Corp ("Alacer" or the "Company") [TSX:ASR, ASX:AQG...
About this update from Allied Strategic Resources Corp
[{"type":"text","content":"\n\n\n\n\n\nTORONTO, Aug. 24, 2011 /CNW/ - Alacer Gold Corp (\"Alacer\" or the\n \"Company\") [TSX:ASR, ASX:AQG] announces effective immediately that\n Robert G. Reynolds has resigned as Chairman and from the Board of\n Alacer Gold Corp and has been replaced by Timothy Haddon. Mr. Haddon\n was Chairman of Anatolia Minerals Development Limited prior to the\n merger with Avoca Resources Limited on February 18, 2011 and continued\n as a Non-Executive Director of Alacer.\n\n\nEdward Dowling, President and CEO of Alacer stated \"Rob Reynolds was\n Chairman of Avoca and led its development since 2002. Over the past\n year, he has been integral in the creation of Alacer Gold\n and throughout the recent integration process. We sincerely thank him\n for his efforts and dedication over the last 10 years.  Mr. Haddon has\n vast experience in leading mining enterprises and has been a director\n with Anatolia Minerals since 1998.\"\n\n\nTim Haddon stated \"On behalf of the Board and shareholders, I'd like to\n thank Rob for his many years of service with Avoca Resources and his\n seminal contribution during these pivotal first months of Alacer Gold.\"\n\n\nAbout Alacer\n\n\nAlacer is a leading intermediate gold company with operations in both\n Australia and Turkey.\n\n\nAustralia\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. The Australian\n operations are targeting 280,000 ounces of gold in 2011.\n\n\nTurkey\nAlacer is recognized as a leader in exploration and development in\n Turkey and, with the start-up of Çöpler, will soon be among Turkey's\n leading gold producers. Çöpler is 95% owned by Alacer and 5% by Lidya\n Mining (formerly known as Çalık Mining, see Anatolia News Release,\n August 13, 2009). Initial plans at Çöpler are to produce approximately\n 1.42 million leachable ounces of gold at costs consistent with the\n lower end of industry standards. Average annual production is expected\n to be about 175,000 gold ounces. Additional production expansion from\n the sulfide gold r...