JOHANNESBURG (miningweekly.com) – Having produced 30 047 oz of gold and 24 038 oz attributable gold during the second quarter to June, ASX- and TSX-listed Alacer Gold plans to ramp up production during the second half of 2016.
The second quarter of the year, which delivered in line with expectations, operated at a total cash cost per ounce of $752 and an all-in sustaining cost per ounce of $940.
This is slightly down from the 31 926 oz of gold produced from the Turkey-based Çöpler mine during the first quarter, at a total cash cost of $659/oz and an all-in sustaining cost of $846/oz.
“Çöpler’s second-quarter results were in line with [the] plan. Production will increase in the second half of the year as we access ore from the marble pit,” stated Alacer president and CEO Rod Antal.
The company reported 6.4-million tonnes of sulphide stockpiles at an average grade of 3.43 g/t gold, or 700 000 contained gold ounces, by the end of the second quarter.
Alacer’s attributable net profit for the period under review was $12.2-million or $0.04 a share, while working capital was $351.7-million as at June 30, 2016.
The company also has an undrawn finance facility of $350-million and ended the second quarter with $311.4-million of cash in hand.