Alacer Gold (ASR.TO) has announced an updated production guidance for its 80%-owned Copler gold mine in Turkey. The revised guidance calls for an expected output between 192,000 and 200,000 ounces of gold at an operating cash cost of $375-390/oz. Both numbers are higher than the previous guidance of 162-178,000 ounces of gold at a cost of $340-375/oz. The anticipated capex number was unchanged.
As Alacer Gold has now also divested its Australian operations, it can now fully focus on the Copler mine where the production of sulphide ore should more than compensate for the reduction in the gold production from oxide ore.
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Disclosure: The author holds no position in Alacer Gold. Please see our disclaimer for current positions.
