Alacer extends mine life at Çöpler, Turkey
PERTH (miningweekly.com) – ASX- and TSX-listed Alacer Gold has increased the expected mine life of its Çöpler gold mine, in Turkey, by four-and-a-half years, following an updated resource and reserve estimates.
The miner on Tuesday announced a 44%, or 245 000 oz, increase to oxide production, and a 22%, or 555 000 oz, increase to sulphide production at the Çöpler operation, resulting in the mine life being extended until 2039.
“This very positive update to our mineral resource and mineral reserve estimates significantly improves our gold production profile going forward, and will provide us with a number of benefits as we transition into sulphide ore production in late 2017,” said Alacer CEO and president Rod Antal.
In developing a new production schedule, Alacer placed emphasis on maximising production from oxide ores between now and the start-up of the sulphide plant, and also on producing the highest grade sulphide ores during the initial years of sulphide production.
“We will generate significant additional free cash flow from increased ounces of high-margin oxide production between 2015 and 2019, and specifically in 2018, as we bring the sulphide plant into full production,” Antal said.
“We will also be able to add sulphide ounces in the first five years of the whole-ore pressure oxidation production, improving the sulphide project investment case.”
Antal said that all of these factors greatly improved the fundamental operating metrics of Alacer, and further strengthened and de-risked the business profile.
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