Alacer Gold Corp.
(
“Alacer
” or the
“Corporation
”)
(TSX:ASR)
(ASX:AQG) is very pleased to announce that it has received
approval for a number of permits from the Turkish authorities for
Çöpler. These permits include the Forestry Permits required to
fully construct the sulfide plant, the supporting infrastructure,
and the tailings storage facility. These permits also allow for the
completion of the remaining 30% of the Heap Leach Pad Phase 4
(“HLP4”) expansion. In addition, the Corporation received a number
of exploration permits to continue drilling in and around the
Çöpler District.
Rod Antal, Alacer’s President and Chief
Executive Officer, stated, “Today is a landmark day in
Alacer’s history with the approval of various important land use
permits. We can now progress the Sulfide Project to Board approval
and expect to provide a comprehensive Project update in May. The
permits also allow us to complete the expansion of the heap leach
pad on schedule. On behalf of Alacer and all of its employees, I
would like to thank the Turkish government and all of our local
stakeholders for their continued support of the Çöpler Mine.”
About
Alacer
Alacer is a low-cost, intermediate gold mining
company, with an 80% interest in the world-class Çöpler Gold Mine
in Turkey operated by Anagold Madencilik Sanayi ve Ticaret A.S.
(“Anagold”) and 20% owned by Lidya Madencilik Sanayi ve Ticaret
A.S. (“Lidya Mining”). The Corporation’s primary focus is to
leverage its cornerstone Çöpler Mine and strong balance sheet to
maximize portfolio value, maximize free cash flow, minimize project
risk and, therefore, create maximum value for shareholders.
Alacer is actively pursuing initiatives to
enhance value beyond the current mine plan:
- Çöpler Oxide Production Optimization – expansion of the
existing heap leach pad to 58 million tonnes continues to advance.
All required land use permits for the HLP4 expansion have been
received. The Company continues to evaluate opportunities to
optimize and extend oxide production beyond the current reserves,
including a new heap leach pad site to the west of the Çöpler
Mine.
- Çöpler Sulfide Project – the Sulfide Project will deliver
medium-term growth with robust financial returns and adds 22 years
of production at Çöpler. The Sulfide Project will bring Çöpler’s
remaining Life-of-Mine gold production to 3.7 million ounces at
industry low All-in Sustaining Costs averaging $6371 per ounce. The
Environmental Impact Assessment and all required land use permits
have been approved. Final Board of Directors’ approval is required
to advance the Sulfide Project construction. The Company
continues detailed engineering and procurement of long-lead time
items and a comprehensive Project update will be made in
May.
- The Company continues to pursue opportunities to further expand
its current operating base and to become a sustainable multi-mine
producer with a focus on Turkey. The systematic and focused
exploration efforts in the Çöpler District to locate additional
oxide deposits, as well as in other regions of Turkey are
progressing. The prospects of particular focus in the Çöpler
District are around Yakuplu and Bayramdere, which are shallow,
oxide targets with favorable metallurgy and have the potential for
rapid development. In the region, evaluation work is advancing and
an update on the Dursunbey Project in western Turkey will be
provided in Q3 2016.
Detailed information regarding the Çöpler
Sulfide Project can be found in the Technical Report dated March
27, 2015 available on SEDAR at www.sedar.com and on the Company’s
website.
Alacer is a Canadian company incorporated in the
Yukon Territory with its primary listing on the Toronto Stock
Exchange. The Company also has a secondary listing on the
Australian Securities Exchange where CDIs trade.
_____________________
1 All-in Sustaining Costs are non-IFRS financial performance
measures and have no standardized definitions under IFRS. For
further information and detailed reconciliation, please see the
“Non-IFRS Measures” section of the MD&A for the year ended
December 31, 2015.
Cautionary Statements
Except for statements of historical fact
relating to Alacer, certain statements contained in this press
release constitute forward-looking information, future oriented
financial information, or financial outlooks (collectively
“forward-looking information”) within the meaning of Canadian
securities laws. Forward-looking information may be contained in
this document and other public filings of Alacer. Forward-looking
information often relates to statements concerning Alacer’s future
outlook and anticipated events or results and, in some cases, can
be identified by terminology such as “may”, “will”, “could”,
“should”, “expect”, “plan”, “anticipate”, “believe”, “intend”,
“estimate”, “projects”, “predict”, “potential”, “continue” or other
similar expressions concerning matters that are not historical
facts.
Forward-looking information includes statements
concerning, among other things, preliminary cost reporting in this
press release, production, cost and capital expenditure guidance;
ability to expand the current heap leach pad, development plans for
processing sulfide ore at Çöpler; results of any gold
reconciliations; ability to discover additional oxide gold ore, the
generation of free cash flow and payment of dividends; matters
relating to proposed exploration, communications with local
stakeholders and community relations; negotiations of joint
ventures, negotiation and completion of transactions; commodity
prices; mineral resources, mineral reserves, realization of mineral
reserves, existence or realization of mineral resource estimates;
the development approach, the timing and amount of future
production, timing of studies, announcements and analysis, the
timing of construction and development of proposed mines and
process facilities; capital and operating expenditures; ability to
draw under the credit facility and satisfy conditions precedent
including execution of security and construction documents;
economic conditions; availability of sufficient financing;
exploration plans; receipt of regulatory approvals and any and all
other timing, exploration, development, operational, financial,
budgetary, economic, legal, social, regulatory and political
matters that may influence or be influenced by future events or
conditions.
Such forward-looking information and statements
are based on a number of material factors and assumptions,
including, but not limited in any manner to, those disclosed in any
other of Alacer’s filings, and include the inherent speculative
nature of exploration results; the ability to explore;
communications with local stakeholders and community and
governmental relations; status of negotiations of joint ventures;
weather conditions at Alacer’s operations, commodity prices; the
ultimate determination of and realization of mineral reserves;
existence or realization of mineral resources; the development
approach; availability and receipt of required approvals, titles,
licenses and permits; sufficient working capital to develop and
operate the mines and implement development plans; access to
adequate services and supplies; foreign currency exchange rates;
interest rates; access to capital markets and associated cost of
funds; availability of a qualified work force; ability to
negotiate, finalize and execute relevant agreements; lack of social
opposition to the mines or facilities; lack of legal challenges
with respect to the property of Alacer; the timing and amount of
future production and ability to meet production, cost and capital
expenditure targets; timing and ability to produce studies and
analysis; capital and operating expenditures; economic conditions;
availability of sufficient financing; the ultimate ability to mine,
process and sell mineral products on economically favorable terms
and any and all other timing, exploration, development,
operational, financial, budgetary, economic, legal, social,
regulatory and political factors that may influence future events
or conditions. While we consider these factors and assumptions to
be reasonable based on information currently available to us, they
may prove to be incorrect.
You should not place undue reliance on
forward-looking information and statements. Forward-looking
information and statements are only predictions based on our
current expectations and our projections about future events.
Actual results may vary from such forward-looking information for a
variety of reasons including, but not limited to, risks and
uncertainties disclosed in Alacer’s filings at
www.sedar.com and other unforeseen events or circumstances.
Other than as required by law, Alacer does not intend, and
undertakes no obligation to update any forward-looking information
to reflect, among other things, new information or future
events.
For further information on Alacer Gold Corp., please contact:
Lisa Maestas – Director, Investor Relations at +1-303-292-1299
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