Business
Alacer Gold increases heap leach pad capacity by 14% at its Çöpler Gold Mine
TORONTO , Dec. 18, 2014 /CNW/ - Alacer Gold Corp. ( "Alacer" or the "Corporation" ) ...
About this update from Allied Strategic Resources Corp
[{"type":"text","content":"\n\nTORONTO, Dec. 18, 2014 /CNW/ - Alacer Gold Corp. (\"Alacer\" or the \"Corporation\") [TSX: ASR and ASX: AQG] is pleased to announce the results of the heap leach pad expansion study which has resulted in a 14% increase in ultimate capacity to 56 million tonnes. The total cost of the expansion is estimated to be $30M which combines the previously planned heap leach phase four expansion with the new capacity increase to 56 million tonnes. The Corporation expects to spend $25M of the expansion costs in 2015.  Work is currently underway on a technical review to re-optimize the mine plan which will take advantage of the new expanded heap leach capacity.  The results of this work will be announced towards the end of first quarter 2015. \n\nRod Antal, Alacer's Chief Executive Officer, commented, \"The results of the Sulfide Project Definitive Feasibility Study provided the catalyst to evaluate the potential of increasing the existing heap leach pad capacity, thereby allowing an extension to oxide production beyond 2017.   The resulting increase of nearly seven million tonnes of capacity to the heap leach pad is a great result and enables the addition of high-margin oxide production. \n\nWith the ultimate capacity of our existing heap leach pad now established, we will be advancing the technical work on a second heap leach pad located towards the west of the Çöpler Mine. Over the next 12 months we will take our conceptual plan to an engineered design with detailed cost estimates. This will be an important step to provide us with additional oxide production options into the future.\"\n\nAbout Alacer \n\nAlacer is a leading intermediate gold mining company with an 80% interest in the world-class Çöpler Gold Mine in Turkey. The Corporation's primary focus is to maximize portfolio value, maximize free cash flow, minimize project risk, and therefore create maximum value for shareholders. \n\nDuring 2014, Çöpler is forecast to produce 160,000 to 180,000 attributable1 ounces of gold at All-in Costs2 of $730 to $780 per ounce. Çöpler's oxide ore is currently being processed in a conventional crush, agglomeration, heap-leach and gold recovery circuit.\n\nAlacer is actively pursuing initiatives to enhance value beyond the current mine plan:\n\n\nÇöpler Oxide Production Opti...