News: Alacer maintains guidance, reviews goals

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Alacer Gold Corp (ASX:AQG) has reaffirmed its full year gold production guidance of between 330 and 365 thousand ounces however says it is reviewing its production goals. 

 

The gold producer says the review comes against a backdrop of weaker gold prices and challenging first quarter cost results.

 

Alacer’s focus will be on procuring quality ounces while maintaining an emphasis on reducing costs and maximising high margin production.

 

The company intends to begin targeting higher grade material at its Copler mine in Turkey as well as its Trident deposit in Western Australia. 

 

The gold price has fallen approximately 12 per cent since the beginning of 2013 and dived to a two year low in March. 

 

Alacer Gold reported a $329.7 million loss in its 2012 financial year.