Operations

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 355,000 to 415,000 ounces at All-in Sustaining Costs of $675 to $725 an ounce and will come from two producing plants.

 
District-and-Turkey-2018
2019 Organic Growth Strategy

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
125 to 145
230 to 270
355 to 415
 Total Tonnes Mined
M
-
-
22.0
 Total Tonnes Treated
M
3.2
1.7
4.9
 Average Grade Treated
g/t gold
1.60
4.75
-
         
 Sulfide Plant Processing Cost2  $/tonne 44 - 48   -
 Total Cash Costs (“C2”)3  $/oz 600 to 650  425 to 475  500 to 550 
 All-in Sustaining Costs (“AISC”)3  $/oz 650 to 7004  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
Ownership
80% Alacer Gold, 20% Lidya Madencilik San. Ve Tic, A.Ş. (“Lidya Mining”)
Location
Erzincan Province, Turkey
Status
Operating
Metals Mined
Gold
Mining
Open Pit by Contractor
Processing Sulfide Material Pressure Oxidation
Processing Oxide Material
Heap Leach
2018 Gold Production
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)




Çöpler Gold Mine
(100% Basis)

 
2013
Actual

2014
Actual

2015
Actual

2016
Actual

2017
Actual
2018
Actual
 
Ore Treated
(Tonnes)
6,697,209
6,433,514
6,030,514
4,739,368 6,225,773  4,573,436 
Head Grade Treated
Oxide Ore
Sulfide Ore

(G/T)
(G/T)

1.59
N/A

1.68
N/A

1.23
N/A

1.10
N/A

1.13
N/A

1.84
5.04
Gold Produced
(OZ)
271,063
227,927
204,665
119,036 168,163  170,865 
Total Cash Costs
(US$/OZ)
429
524
482
738 539  506 
All-In Sustaining Costs
(US$/OZ)
820 694 690 966 686  609 

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