Alacer Gold Corp. (TSX:ASR)(ASX:AQG) is pleased with its Turkish...

Alacer Gold Corp. (TSX:ASR)(ASX:AQG) is pleased with its Turkish Çöpler mine and sees it as being a cornerstone project for the next 16 years of mine life. “We’ve had one of the best mine startups in recent memory,” Edward Dowling, president and chief executive officer of Alacer said. “This mine is a year and a month old, we achieved commercial production within three months and we actually exceeded our nominal design capacity in its first of year operation producing 185,000 (gold) ounces in the first year.” The company updated its resource estimate yesterday, increasing its measured and indicated resources to 148.9 million metric tons, an 18% increase, at a grade of 1.53 grams per metric ton gold with reserves totaling 7.3 million ounces of gold. Alacer’s 2012 guidance for the Çöpler Mine stands at $180,000 to 190,000 ounces of gold at a cash cost of $360 to $380 per ounce, but this does not take into account the updated resource estimate mentioned previously. “Our guidance for the year is conservative because we built this on our old resource model, not having the new on hand to do our business planning,” Dowling said. “We will update that soon.” Alacer is a gold producing and exploration company with projects located in Turkey and Australia.