Business
Alacer Gold files third quarter financial results and the related management discussion and analysis
TORONTO, Nov. 12, 2011 /CNW/ - Alacer Gold Corp ( "Alacer" or the "Corporation" ) (TSX: ...
About this update from Allied Strategic Resources Corp
[{"type":"text","content":"\n\n\n\n\n\nTORONTO, Nov. 12, 2011 /CNW/ - Alacer Gold Corp (\"Alacer\" or the \"Corporation\") (TSX: ASR) and (ASX: AQG) filed its third quarter 2011 financial results and related management\n discussion and analysis (\"MD&A\"). The complete financial statements and MD&A can be found on our\n website at www.AlacerGold.com and on www.SEDAR.com.\n\n\nMr. Edward Dowling, CEO of Alacer stated, \"We had an excellent third\n quarter with gold production increasing to 112,680 ounces, 9% more than\n the second quarter. The group cash operating costs decreasing to\n $554/oz, while our realized gold price increased to $1,700/oz.  This\n strong performance has prompted us to upgrade 2011 guidance to 405,000\n ounces at cash operating costs of $550/oz. The previous guidance was\n 400,000 ounces at cash operating costs of $590/oz.  In addition, our\n mines generated an operating margin of $79.4 million during the third\n quarter, with a pre-tax profit of $63.7 million, and net profit of $41\n million. Alacer's cash position increased by a healthy $47.5 million to\n $186.9 million at the end of September, with a cash operating margin of\n more than $1,000/oz for the third quarter.\n\n\nÇöpler continues to exceed our expectations with production of 53,200\n ounces for the quarter and cash operating costs decreasing by $126/oz\n to $259/oz.  To date, the mined grade of this world-class orebody has\n been significantly more than modeled, with mined grade increasing\n quarter on quarter by 66% to 2.07g/t gold.\n\n\nOne of our key organic growth projects is expanding our South Kalgoorlie\n Operations. We recently announced a staged development approach for SKO\n and committed $25M to the first stage which enables us to keep to our\n target of commissioning a new 2.5Mtpa plant at SKO in early 2013,\n subject to construction approval by the Board in Q2 2012.\"\n\n\nConference Call Details\n\n\nEdward Dowling will host a conference call on at 5.00 pm (Toronto time)\n Monday, November 14 (North America) and 9.00am (Australian Eastern\n Standard time) Tuesday, November 15 (Australia). To participate in the\n conference call, please dial\n\n1-800-946-0719 \n\n\nfor U.S. and Canada\n\n\n1-800-094-765  \n\n\nfor Australia\n\n\n0-800-404-7656 \n\n\nfor United Kingdom\n\n\n800-968-103  \n\n\nfo...