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Alacer Gold receives approval of the Environmental Impact Assessment for the Çöpler Sulfide Project
TORONTO , Dec. 28, 2014 /CNW/ -  Alacer Gold Corp. ( "Alacer" or the "Corporation...
About this update from Allied Strategic Resources Corp
[{"type":"text","content":"\n\nTORONTO, Dec. 28, 2014 /CNW/ - Alacer Gold Corp. (\"Alacer\" or the \"Corporation\") [TSX: ASR and ASX: AQG] is pleased to announce that it has received approval of the Environmental Impact Assessment (\"EIA\") for the Çöpler Sulfide Project from the Ministry of Environment and Urbanization of Turkey. The approval is the next step in the expansion of the Çöpler Gold Mine to increase its life-of-mine production to 3.2 million ounces of gold over the next 20 years.\n\nRod Antal, Alacer's Chief Executive Officer, commented, \"The approval of the EIA represents a significant positive milestone for Çöpler and the Sulfide Project and demonstrates the ongoing support from the Turkish Ministry of Environment and Urbanization for Çöpler and the Project.  \n\nThe EIA approval is further evidence that the Sulfide Project is fully on track and we can now begin the process of securing the necessary land use permits. In parallel with the land use permitting process, we continue to advance basic engineering and de-risking efforts. \n\nWith no debt and a growing cash balance of $320 million, Çöpler's high-margin production provides the platform to deliver on our strategy of becoming a sustainable mining operation with a focus on Turkey.\"\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 Optimization - continuing to evaluate opportunities to optimize and extend the oxide production beyond the current reserves.  \nÇöpler Sulfide Project - work is ongoing following the June 2014 Sulfide Definitive Feasibility Study (\"DFS\") which demonstrated robust financial returns from processing sulfide ore and ex...