Business
Alacer Gold Announces Record Third Quarter Production at Çöpler
Çöpler Production 19% Higher Than Previous Record Quarter TORONTO , Oct. ...
About this update from Allied Strategic Resources Corp
[{"type":"text","content":"\n\n\nÇöpler Production 19% Higher Than Previous Record Quarter\n\n\nTORONTO, Oct. 29, 2013 /CNW/ - Alacer Gold Corp. (\"Alacer\" or the \"Corporation\") [TSX: ASR and ASX: AQG] announced today that it has filed its third quarter 2013 financial\n results and related management's discussion and analysis (\"MD&A\"). The corresponding financial statements and MD&A are available on www.AlacerGold.com and on www.SEDAR.com.\n\n\nRod Antal, Alacer's Chief Executive Officer, commented \"Alacer's Turkish\n operations continued to perform exceedingly well as Çöpler achieved\n record gold production of 81,059 ounces in the third quarter, a 19%\n increase over the prior record set in the second quarter of 2013.\n During the quarter, we made a number of transformational changes to\n re-focus the business on our Turkish operations.  We announced the sale\n of the Australian Business Unit, we released the Çöpler oxide\n production profile through 2017 and we made important changes to the\n senior management team and Board. This on-going transformation sets\n Alacer up to leverage its strong balance sheet by focusing on its\n world-class asset base in Turkey to produce gold at low all-in costs.\n This quarter's results highlight the world-class nature of Alacer's\n assets in Turkey as Çöpler once again delivered record quarterly\n production at some of the lowest costs in the industry.\"\n\n\nThird Quarter 2013 Highlights \n\n\nStrategic\n\n\nAlacer entered into a binding agreement (announced September 23, 2013)\n to sell the Australian Business Unit which will enable the Corporation\n to focus on its low-cost operations and exploration potential in\n Turkey.\n\n\nAlacer announced a 15% increase in Çöpler's 2013 production guidance and\n a four-year oxide production profile for Çöpler - demonstrating solid\n gold production through 2017 from this low-cost, heap-leach operation.\n\n\nAlacer's Board of Directors and executive management are committed to\n developing Çöpler's sulfide orebody in order to create value for\n shareholders and provide strong production beyond 2017. Alacer plans to\n announce the processing method for the sulfides before the end of 2013.\n\n\nThe executive management team was re-organized as follows:\n\n\nRodney P. Antal, Chief Executive ...