Alacer Gold Achieves 2017 Production Guidance, Beats Cost...

Alacer Gold Achieves 2017 Production Guidance, Beats Cost Guidance and Provides 2018 Outlook as the Sulfide Project Approaches
Jan. 15, 2018
https://www.bloomberg.com/press-rel...018-outlook-as-the-sulfide-project-approaches

Rod Antal,  Alacer’s President  and  Chief Executive  Officer, stated,  “I  am pleased to  report that  we produced  168,163 ounces  of gold  at  unaudited All-in Sustaining Costs  (“AISC”) of  $685 per  ounce in  2017, meeting  our original  production  and  beating  AISC  cost  guidance  for  the  year.  The production initiatives generated  through our  operational excellence  program were very successful, delivering 64,542  ounces in the fourth quarter,  making it the strongest  quarter of  the year.  All of  this was  achieved with  zero lost-time injuries  in 2017  and we  have now  worked 401  days, or  over  8.2 million man-hours without a lost-time injury.

2018 will be a pivotal year for Alacer as the Çöpler sulfide expansion project is delivered  on  time  and  under budget  in  the  third  quarter,  providing long-term gold production for at least 20 years. The sulfide expansion project is currently 75%  complete and dry  commissioning is underway  in some  areas. Start-up of the plant will commence by first processing oxide ore through  the crushing, grinding and  carbon-in-pulp (“CIP”) circuits.  Once these  circuits are stable and the pressure oxidation circuits are ready, the full plant  will be brought on line.

2018 production guidance is 120,000 to 190,000 ounces from Çöpler oxides and sulfides. We also expect initial mining at a new oxide deposit, Çakmaktepe, later this year.”