OREANDA-NEWS. Alacer Gold Corp. announced today that it has filed its 2016 second quarter operating, financial results and related management’s discussion and analysis (“MD&A”).

Rod Antal, Alacer’s President and Chief Executive Officer, stated, “??pler’s second quarter results were in line with plan.  As guided, production will increase in the second half of the year as we access ore from the marble pit. The highlight of the quarter was the approval of full construction for the ??pler Sulfide Expansion Project. Additionally, de-risking efforts remain a key focus with a $350 million project finance facility secured and a limited oxide hedging program initiated.  Exploration work at ?akmaktepe North (formerly Yakaplu North) in the ??pler District continues to deliver value through the drill bit with continued positive drill results, increasing our confidence in the ability to add oxide production within the next two years and using the existing ?opler infrastructure.”

Operational
  • Gold production for the quarter of 30,047 ounces and attributable gold production of 24,038 ounces was in line with guidance whereby production is expected to increase in the second half of the year.
  • Q2 Total Cash Costs per ounce (C2) were $752 and All-in Sustaining Costs per ounce were $940.
  • Expansion of the existing heap leach pad to 58 million tonnes continues to advance.
  • Sulfide stockpiles at the end of the second quarter were 6.4 million tonnes at an average grade of 3.43 g/t gold or over 700,000 contained gold ounces.

Financial

  • The Corporation ended the second quarter with cash of $311.4 million.
  • An undrawn finance facility of $350 million is in place.
  • Working capital was $351.7 million at June 30, 2016.
  • Cash flow from operating activities year-to-date total $26.2 million.
  • Attributable net profit for Q2 2016 was $12.2 million or $0.04 per share.

Alacer is a leading intermediate gold mining company, with an 80% interest in the world-class ??pler Gold Mine in Turkey operated by Anagold Madencilik Sanayi ve Ticaret A.S. (“Anagold”), and the remaining 20% owned by Lidya Madencilik Sanayi ve Ticaret A.S. (“Lidya”). The Corporation’s primary focus is to leverage its cornerstone ??pler Mine and strong balance sheet to maximize portfolio value, maximize free cash flow, minimize project risk and, therefore, create maximum value for shareholders.

Alacer is a Canadian corporation incorporated in the Yukon Territory with its primary listing on the Toronto Stock Exchange. The Corporation also has a secondary listing on the Australian Securities Exchange where CDIs trade