Alacer Gold Corporate (ASX: AQG) – $2.41 (-2%)

19 Dec 2014

Alacer Gold Corporate (ASX: AQG) has increased the heap leach pad capacity by 14% at its 80% held Çöpler Gold Mine in eastern Turkey (Figure 1).

 

The results of the heap leach pad expansion study resulted in the 14% increase in ultimate capacity to 56 million tonnes. The total cost of the expansion is estimated to be $30m with an approximate $25m spend in 2015.

 

The company is forecast to produce 160,000 to 180,000 ounces of gold at all-in costs of $730 to $780 per ounce during 2014.

 

Work is currently underway on a technical review to re-optimise the mine plan that will take advantage of the new expanded heap leach capacity. The results of this work will be announced towards the end of the first quarter in 2015.

 

AQG Copler Gold Mine in Turkey

Figure 1. Leach pad operations at Çöpler Gold Mine

 

 

For further information, visit www.alacergold.com

 

 

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