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Alacer Gold lifts guidance at flagship Turkish mine

Çöpler

Çöpler

Photo by Alacer Gold

5th December 2013

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

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TORONTO (miningweekly.com) – TSX- and ASX-listed gold miner Alacer Gold on Thursday reported that it had lifted the 2013 guidance for its flagship Turkish mine by 10% as a result of the mine’s strong performance over the past several quarters.

Alacer increased the guidance for the Çöpler gold mine, in Erzincan province, to between 214 000 oz and 218 000 oz of attributable gold output.

“Çöpler achieved record production of 81 059 oz in the third quarter and fourth quarter production remains strong. Improvements in operating efficiencies, including increased levels of cyanide dosing and a focus on quality agglomeration, have increased production beyond expectations, resulting in higher than forecast gold production,” CEO Rod Antal said.

Alacer said its cash costs and capital expenditure guidance remained unchanged.

“Çöpler's performance reinforces our strategy to focus on this world-class asset and the surrounding area. Alacer has a large land-holding in Turkey with 14 active exploration projects.

“Using the initial positive geochemical and drill results received to date, Alacer is intensifying its exploration focus in Turkey with the goal of discovering one or more oxide ore deposits that can be brought into production over the next three to four years,” Antal said.

Edited by Creamer Media Reporter

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