Alacer Gold Corp. announced today that it has filed its 2018 first quarter operating and financial results and related management’s discussion and analysis (“MD&A”). The corresponding financial statements and MD&A are available on http://www.AlacerGold.com and on http://www.SEDAR.com. All currencies referenced herein are denominated in USD unless otherwise stated.
Rod Antal, Alacer’s President and Chief Executive Officer, stated, “A good start to the year from our oxide operations with 37,875 ounces of gold production generating robust operating cashflow at All-in Sustaining Costs of US$737 per ounce. Production and costs are tracking in line with guidance as we progressively transition from oxide to predominately sulfide ore in the second half of the year.
The Çöpler Sulfide Project capital estimate declined further to $692 million or currently 7% under the original capital estimate of $744 million, meaning it will be delivered under budget. The start-up of the sulfide plant is only a quarter away and remains on schedule as we enter the final stage of construction. Commissioning activities are advanced, and the new operations team have embedded themselves into these efforts. The sulfide ore stockpiles have grown to over 1 million contained gold ounces and we have started physically testing the stockpile management strategy.
The rest of our pipeline continues to advance with permitting progressing for Çakmaktepe and mining is on track to commence in the fourth quarter. At Ardich exciting drill results were released in the quarter indicating the discovery of a new oxide ore source. Exploration work at Ardich continues.”
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