Business
Alacer Gold announces completion of Australian Business Unit sale
TORONTO , Oct. 29, 2013 /CNW/ - Alacer Gold Corp. (" Alacer ") [ TSX: ASR and ASX: AQG ]...
About this update from Allied Strategic Resources Corp
[{"type":"text","content":"\n\n\nTORONTO, Oct. 29, 2013 /CNW/ - Alacer Gold Corp. (\"Alacer\") [TSX: ASR and ASX: AQG] is pleased to announce the completion of the sale of Alacer's\n Australian Business Unit (which includes the Higginsville and South\n Kalgoorlie Operations) to a subsidiary of Metals X Limited (\"Metals X\"), an Australian public company with shares listed on the ASX (ASX: MLX).\n\n\nMetals X has paid Alacer the purchase price of A$40 million in cash.\n Under the terms of the sale agreement, the parties are in the process\n of finalizing a purchase price adjustment via a standard working\n capital calculation mechanism.\n\n\nMr. Rodney P. Antal, Chief Executive Officer of Alacer stated, \"We are\n very pleased to conclude the sale of our Australian Business Unit. The\n sale will allow Alacer to focus on creating value in Turkey for\n Alacer's shareholders.  The sale proceeds will further bolster our\n strong balance sheet and provide us with additional capital to invest\n in our Turkish assets.\"\n\n\nAbout Alacer \n\n\nAlacer Gold Corp. is a leading intermediate gold mining company and its\n world-class operation is the 80%-owned Çöpler Gold Mine in Turkey.\n\n\nDuring 2013, Çöpler is forecast to produce 240,000 to 250,000 ounces at\n Total Cash Cost of less than $425 per ounce. Çöpler is an epithermal\n gold deposit with oxide ore currently being processed in a conventional\n crush, agglomeration, heap-leach and gold recovery circuit.\n\n\nAlacer has 14 exploration projects in Turkey, which are 50%/50% joint\n ventures with our Turkish partner Lidya Mining.\n\n\nAlacer's primary focus is to maximize portfolio value, maximize free\n cash flow, minimize project risk, and create value for shareholders.\n\n\nCautionary Statements\n\n\nExcept for statements of historical fact relating to Alacer, certain\n statements contained in this press release constitute forward-looking\n information, future oriented financial information, or financial\n outlooks (collectively \"forward-looking information\") within the\n meaning of Canadian securities laws. Forward-looking information may be\n contained in this document and other public filings of Alacer.\n Forward-looking information often relates to statements concerning\n Alacer's future outlook and anticipated events or results and, in some\n cases, can be identifi...