Çöpler Sulfide Project Under Budget and Approaching Start Up

Sulfied expansion project Sept2018
The Çöpler Gold Mine is operated by Alacer Gold and is currently an open-pit, heap-leach operation that is producing gold from oxide ore. The Çöpler orebody also contains refractory sulfide ore that requires a different processing solution than heap-leaching to extract the gold. In June 2014 a Definitive Feasibility Study was completed and determined that the treatment of the sulfide ore via pressure oxidation provided the best economic return. In May 2016 construction commenced on the Çöpler Sulfide Expansion Project and the Project will be delivered under budget and on schedule with the start-up of the pressure oxidation circuit in the third quarter of 2018, providing the next stage of growth for Alacer.

Çöpler Sulfide Expansion Project (1)
Start Up Expected
Third quarter 2018
Pre-Production Capital
US$673 million (was US$744 million)
Estimated Mine Life
20 years
Remaining Life-of-Mine Production

~4 million ounces

All-in Sustaining Costs
$645 per ounce
After Tax Net Present Value at 5%
US$728 million
After-Tax Internal Rate of Return
Project Payback
3 years from start of sulfide production

(1) On 100% basis

Project Update

2017 Milestones
Equipment Procurement
Autoclaves Arrived on Site
Autoclave Assembly
Engineering Design 
Autoclave Certification Complete
Major Plant Civil Works 
Oxygen Plant Construction Complete 
Electrical & Instrumentation Works
Dry Commissioning Commenced
2018 Milestones
Energize High Voltage Switchyard & Power Distribution Complete
Start-up of POX Circuit Q3 2018

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