Business
Alacer meets 2013 production guidance with record production of 216,850 attributable ounces and provides 2014 guidance
TORONTO , Jan. 30, 2014 /CNW/ - Alacer Gold Corp. ( "Alacer" or the "Company" ) [TS...
About this update from Allied Strategic Resources Corp
[{"type":"text","content":"\n\n\nTORONTO, Jan. 30, 2014 /CNW/ - Alacer Gold Corp. (\"Alacer\" or the \"Company\") [TSX: ASR and ASX: AQG] today announced certain preliminary fourth quarter and full-year 2013\n results for its Çöpler Gold Mine in Turkey as well as the Company's\n 2014 production and cost guidance.\n\n\nHighlights of 2013:\n\n\n\nRecord annual Çöpler gold production of 216,850 attributable ounces, a\n 44% increase over 2012\n\n\n\n\nAll-in Costs1 of approximately $8652 per ounce\n\n\n\n\nCash balance of approximately $290 million2 and no debt at year end\n\n\n\n\n\nHighlights of 2014 Guidance:\n\n\n\n\n\n\n\n\n\nÇöpler attributable gold production \n\n\n\n\n\n160,000 to 180,000 ounces\n\n\n\n\n\n\n\nAll-in Costs1\n\n\n\n\n\n$730 to $780 per ounce\n\n\n\n\n\n\n\nÇöpler attributable capital expenditure  \n\n\n\n\n\n$17 million\n\n\n\n\n\n\n\nExploration expenditure (100%) \n\n\n\n\n\n$21 million\n\n\n\n\n\n\n\nGeneral and administrative  \n\n\n\n\n\n$15 million\n\n\n\n\n\n\n\n\n\nRod Antal, CEO of Alacer, stated \"I am pleased with the record performance of our Çöpler Mine in\n 2013.  We delivered on our production targets which continue to\n demonstrate our operating capabilities. Çöpler's record gold production\n was a 44% increase over 2012, primarily driven by a 16% increase in the\n oxide ore grade and improved operating practices lifting gold recovery\n rates over the course of the year.\n\n\nÇöpler's strong performance is planned to continue through 2014 with\n gold production above 200,000 ounces.  More importantly, those ounces\n will be produced at or near the lowest cost in the gold mining industry\n resulting in strong free cash flow for Alacer.\n\n\nWith a cash position of approximately $290 million and growing, Alacer\n has all the right ingredients to continue building on its success in\n Turkey.  Alacer's definitive feasibility study for the Çöpler sulfides\n is progressing as planned with completion expected in the Second\n Quarter of 2014.\"\n\n\n____________________\n1 All-in Costs, All-in Sustaining Costs, and Total Cash Costs are\n non-IFRS financial performance measures with no standardized\n definitions under IFRS. For further information, see the \"Non-IFRS\n Measures\" section of the MD&A for the thre...