Blasthole drilling

Alacer is a leading low-cost gold producer, with an 80% interest in the world-class Çöpler Gold Mine in Turkey operated by Anagold Madencilik Sanayi ve Ticaret A.S. (“Anagold”), and the remaining 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 and free cash flow, minimize project risk, and therefore, create maximum value for shareholders. The Çöpler Mine is in east-central Turkey in the Erzincan Province, approximately 1,100 kilometers southeast from Istanbul and 550 kilometers east from Ankara, Turkey’s capital city.

Alacer is actively pursuing initiatives to enhance value beyond the current mine plan:

  • Çöpler Oxide Production Optimization – Expansion of the existing heap leach pad capacity to 58 million tonnes continues in preparation for the addition of oxide ore from Çakmaktepe reserves expected in Q4 2018, pending approval of the revised Çakmaktepe Environmental Impact Assessment (“EIA”) and operating permits. The Corporation continues to evaluate opportunities to extend oxide production beyond the current reserves with in-pit exploration, Çöpler District exploration, and evaluating options to increase heap leach pad capacity, including potential for a new heap leach pad to the west of the Çöpler Gold Mine.
  • Çöpler Sulfide Expansion Project – The Sulfide Project construction is near completion with commissioning underway. Additionally, the Project is under budget and on schedule for start-up in Q3 2018. The Sulfide Project is expected to deliver long-term growth with robust financial returns and adds 20 years of production at Çöpler. The Sulfide Project will bring Çöpler’s remaining life-of-mine gold production to approximately 4 million ounces at All-in Sustaining Costs averaging $645 per ounce.
  • The Corporation continues to pursue opportunities to further expand its current operating base to become a sustainable multi-mine producer with a focus on Turkey. The systematic and focused exploration efforts in the Çöpler District, as well as in other regions of Turkey, are progressing. In February 2018, the Corporation announced additional positive drilling results at Ardich within the Çöpler District. The Çöpler District remains the focus, with the goal of continuing to grow oxide resources that will deliver production utilizing the existing Çöpler infrastructure. In the other regions of Turkey, targeted exploration work continues, and work on the Definitive Feasibility Study for the Gediktepe Project is expected to be complete later in 2018.

Alacer is a Canadian corporation incorporated in the Yukon Territory with its primary listing on the Toronto Stock Exchange. The Corporation also has a secondary listing on the Australian Securities Exchange where CHESS Depositary Interests (“CDIs”) trade.

Market Data copyright © 2017 QuoteMedia. Data delayed 15 minutes unless otherwise indicated (view delay times for all exchanges). RT=Real-Time, EOD=End of Day, PD=Previous Day. Market Data powered by QuoteMedia. Terms of Use.