2.1 C
Supported byspot_img

Alacer Gold Revises Turkey 2016 Production and Cost Guidance

Member of Europium Groupspot_img
Supported byspot_img

Alacer Gold Corp. announced revised 2016 production guidance to between 115,000 ounces and 125,000 ounces of gold1. Cost guidance for Total Cash Costs2 is revised to between $675 per ounce and $725 per ounce and All-in Sustaining Costs2 to between $900 per ounce and $950 per ounce.

As outlined in Alacer’s 2016 third quarter results, delays in accessing higher grade ore in the Marble Pit have impacted the production plan for 2016. Safe access to the higher grade ore was re-established at the end of the third quarter, and in October and November over 1.0 million tonnes of ore at an average grade of over 1.6 g/t was stacked on the heap leach pad. However, the flow of leached solution off the heap leach pad was slower than anticipated and will result in lower gold production in 2016 with the shortfall increasing production in 2017.
Rod Antal, Alacer’s President & Chief Executive Officer, stated, “While we have successfully increased the amount of contained ounces stacked so far in the fourth quarter, it is now clear that we will not be able to meet our 2016 guidance. Breakthrough of leached solution from the recently stacked areas of the pad was slower than we hoped, which will simply result in these ounces being added to 2017 production. Production and cost guidance for 2017 will be released in early 2017 as is customary for the Corporation.”

source: juniorminingnetwork.com

Supported byElevatePR Digital

Related News

Current Accusations Against Tara Resources, the Concessionaire, Found to Be Unsubstantiated

The most likely outcome, if the concession agreement for the Brskovo mine is terminated, is that the concessionaire, Tara Resources, will initiate arbitration against...

Titan Lithium Plans Establishment of Lithium Processing Plant in the UAE

KEZAD Group, the largest operator of integrated and purpose-built economic zones, and UAE-based Titan Lithium have announced the signing of a 50-year land lease...

Outdated 1872 Law Exempts Gold, Silver, and Lithium Mining on Federal Land from Royalties to the US Treasury

When Congress opened U.S. public lands for mining in 1872, the nation was less than a century old. Miners used picks, shovels and pressurized...

Allied Nations, Including US, Advance Rare Earth Recovery Initiatives in Response to China’s Dominance

Rare Element Resources is working to establish US-based rare earth production using innovative recovery and separation technology. Forty years ago, China understood something long before...
Supported by
Supported by
Supported by
error: Content is protected !!