Alacer Gold operates the world-class Çöpler Gold Mine in eastern Turkey that produced 170,865 ounces of gold during 2018. Çöpler has substantial Proven and Probable Reserves of almost 3.7 million contained ounces and Measured and Indicated Resources of almost 5.6 million ounces of contained gold, which provide the foundation for Çöpler’s 20 year mine life. Consolidated production guidance for 2019 is 320,000 to 380,000 ounces at All-in Sustaining Costs of $675 to $725 an ounce and will come from three distinct ore sources: Çöpler sulfide ore, Çöpler oxide ore, and Çakmaktepe oxide ore.
The Çöpler Gold Mine has been successfully operating since 2010, processing oxide ore via a heap leach operation. The oxide ore is progressively being exhausted and the mine started processing sulfide ore in November 2018 using pressure oxidation, commonly referred to as "POX".
2019 Guidance
|
Çöpler Gold Mine (100%)
|
|
Oxide Plant5
|
Sulfide Plant
|
Consolidated
|
Gold Ounces Produced1
|
‘000’s
|
90 to 110
|
230 to 270
|
320 to 380
|
Total Tonnes Mined
|
M
|
-
|
-
|
21.8
|
Total Tonnes Treated
|
M
|
2.1
|
1.7
|
3.8
|
Average Grade Treated
|
g/t gold
|
1.60
|
4.75
|
-
|
| |
|
|
|
|
| Sulfide Plant Processing Cost2 |
$/tonne |
- |
44 - 48 |
- |
| Total Cash Costs (“C2”)3 |
$/oz |
650 to 700 |
425 to 475 |
500 to 550 |
| All-in Sustaining Costs (“AISC”)3 |
$/oz |
700 to 7504 |
600 to 6504 |
675 to 725 |
1Production results are reported on 100% basis; production results are reduced by a 20% non-controlling interest at the Çöpler Gold Mine to derive attributable gold production.
2As guided, sulfide plant processing costs will be higher in the early years due to higher reagent consumption.
3Total Cash Costs (C2) per ounce and All-in Sustaining Costs per ounce are non-IFRS performance measures with no standardized definition under IFRS. For further information and a detailed reconciliation to IFRS, please see the “Non-IFRS Measures” section of the most recent MD&A.
4All-in Sustaining Costs for the oxide plant and sulfide plant are for the mine site only. The consolidated AISC includes the addition of general and administrative costs, share-based compensation costs and other exploration expenses.
5Oxide plant includes production from both Çöpler oxide ore and Çakmaktepe oxide ore.
Key Çöpler Facts
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Ownership
|
80% Alacer Gold, 20% Lidya Madencilik San. Ve Tic, A.Ş. (“Lidya Mining”)
|
Location
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Erzincan Province, Turkey
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Status
|
Operating
|
Metals Mined
|
Gold
|
Mining
|
Open Pit by Contractor
|
| Processing Sulfide Material |
Pressure Oxidation |
Processing Oxide Material
|
Heap Leach
|
2018 Gold Production
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170,865 ounces
|
Proven & Probable Reserves
|
46.1Mt at 2.47g/t gold for 3.7 million contained ounces
(as at December 31, 2018)
|
Measured & Indicated Resources
|
86.5Mt at 2.03g/t gold for 5.7 million contained ounces (as at December 31, 2018)
|