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PERTH (miningweekly.com) – Dual-listed gold miner Alacer Gold has reported a slight decline in production during the first quarter ended March, compared with the previous corresponding period.
Alacer’s Çöpler mine, in Turkey, delivered 52 919 oz of gold, compared with 54 604 oz produced in first quarter of last year.
Alacer’s 80% attributable share of the production was 42 335 oz during the quarter under review, compared with the 43 683 oz delivered in the previous corresponding period.
The slight decline in gold production was ascribed to lower stacked oxide ore tonnes, at a lower head grade, but Alacer noted that this was partly offset by improved process efficiencies, draw-down of inventory previously stacked on the heap leach pad, and favourable winter conditions in the current year.
“First quarter gold production of 42 335 attributable ounces was delivered at industry-leading all-in costs of $739/oz. Çöpler’s operations continue to provide a robust platform to support future growth as we advance the sulphide definitive feasibility study (DFS),” said Alacer CEO Rod Antal.
In November last year, Alacer announced plans to process sulphide ore at the Çöpler gold mine through a whole-ore pressure oxidation. The company’s near-term organic growth would be focused on developing the sulphide ore at the mine, which comprises about 62% of the total 120.9-million tonnes, grading 1.5 g/t gold in the measured and indicated resource categories, or six-million contained gold ounces out of the total 8.5-million contained gold ounces.
“Work continues to finalise the DFS for publication prior to the end of the second quarter,” Antal added.
Meanwhile, gold sales during the first quarter were down 21% on the previous corresponding period, to $71.8-million, reflecting the slight decrease in sales volumes, as well as a decline in the realised price of gold.