|By PR Newswire||
|April 28, 2014 07:45 AM EDT||
TORONTO, April 28, 2014 /CNW/ - Alacer Gold Corp. ("Alacer" or the "Corporation") [TSX: ASR and ASX: AQG] announced today that it has filed its first quarter 2014 financial results and related management's discussion and analysis ("MD&A"). The corresponding financial statements and MD&A are available on www.AlacerGold.com and on www.SEDAR.com. All currencies referenced herein are denominated in USD unless otherwise stated.
Rod Antal, Alacer's Chief Executive Officer, stated, "Çöpler continued to deliver safe and predictable operating performance over the winter months.
"First quarter gold production of 42,669 attributable1 ounces was delivered at industry-leading All-in Costs2 of $739 per ounce. Çöpler's operations continue to provide a robust platform to support future growth as we advance the Sulfide Definitive Feasibility Study. Work continues to finalize the DFS for publication prior to the end of Q2 2014. Additionally, the efforts underway to incorporate the increasingly significant positive gold reconciliation into a new resource model are well progressed."
- On April 17, 2014, the Corporation announced that Mr. Thomas R. Bates, Jr. was appointed to the Board of Directors. In addition, Mr. Edward Dowling was appointed as Chairman, and former interim Chairman Mr. Richard Graff remains on the Board as the independent Lead Director.
- On March 12, 2014, the Corporation's Board of Directors declared an annual dividend of $0.02 per share, or approximately $5.9 million. This dividend was paid on April 15, 2014.
- Work on the Çöpler Sulfide Project Definitive Feasibility Study ("DFS") continues and is on track for release prior to the end of Q2 2014. This includes a program of work to determine the factors leading to the positive sulfide gold reconciliations. As outlined in the MD&A, until such work is complete, the impact of such reconciliation on the DFS is unknown and therefore subject to uncertainty.
- Two significant safety milestones were passed during the quarter as Çöpler reached one calendar year worked without a lost-time injury on February 24, 2014, and achieved three million hours without a lost-time injury on March 27, 2014.
- Total gold production was 52,919 ounces.
- Attributable gold production1 was 42,335 ounces.
- The ratio between gold produced and contained gold in ore stacked was 80% for the quarter.
- All-in Sustaining Costs/ounce2 were $680 and All-in Costs/ounce2 were $739 for Q1 2014.
- 0.5 million tonnes of sulfide ore were added to stockpiles during Q1 2014 at an average grade of 4.98 g/t. Sulfide ore mined continued to provide a positive gold reconciliation during Q1 2014, which resulted in an 82% positive reconciliation on a contained ounce basis.
- The Corporation ended Q1 2014 with cash and cash equivalents of $292.1 million3, an increase of $2.4 million over the prior quarter.
- Working capital decreased by $7.5 million during the quarter to $307.7 million.
- Attributable net profit from operations was $9.7 million.
- Adjusted Net Profit2 was $15.1 million, or $0.05 per share.
- Cash flow from operating activities totaled $29.8 million.
Conference Call / Webcast Details
Mr. Rod Antal, Chief Executive Officer of Alacer, will host a conference call on Monday, April 28 at 6:30 pm (North America Eastern Time) and Tuesday, April 29, at 8:30 a.m. (Australian Eastern Time).
You may listen to the call via webcast at http://services.choruscall.ca/links/alacer140428.html. The conference call presentation will also be available at the link provided prior to the call commencing.
You may participate in the conference call by dialing:
for U.S. and Canada
for Hong Kong
for United Kingdom
"Alacer Gold Call"
If you are unable to participate in the call, a webcast will be archived until July 28, 2014 and a recording of the call will be available on Alacer's website at www.AlacerGold.com or through replay until Wednesday, May 28, 2014 by using passcode 8901# and calling:
for U.S. and Canada
The corresponding financial statements and management's discussion and analysis will be posted on Alacer's website and on www.SEDAR.com.
Alacer Gold Corp. is a leading intermediate gold mining company and its world-class operation is the 80% owned Çöpler Gold Mine in Turkey. Alacer also has 11 active exploration projects in Turkey which are joint ventures with our Turkish partner Lidya Mining.
During 2013, Çöpler produced 216,850 attributable1 ounces at an All-In Costs2 of $864 per ounce.
Çöpler is currently an open-pit, heap-leach operation that is producing gold from oxide ore. The treatment of sulfide ore via pressure oxidation is being evaluated and a Definitive Feasibility Study is planned to be completed in Q2 2014.
Except for statements of historical fact relating to Alacer, certain statements contained in this press release constitute forward-looking information, future oriented financial information, or financial outlooks (collectively "forward-looking information") within the meaning of Canadian securities laws. Forward-looking information may be contained in this document and other public filings of Alacer. Forward-looking information often relates to statements concerning Alacer's future outlook and anticipated events or results and, in some cases, can be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "projects", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts.
Forward-looking information includes statements concerning, among other things, preliminary cost reporting in this news release, production, cost and capital expenditure guidance; development plans for processing sulfide ore at Çöpler; amount of contained ounces in sulfide ore; results of any gold reconciliations; ability to discover additional oxide gold ore, the generation of free cash flow and payment of dividends; matters relating to proposed exploration, communications with local stakeholders and community relations; negotiations of joint ventures, negotiation and completion of transactions; commodity prices; mineral resources, mineral reserves, realization of mineral reserves, existence or realization of mineral resource estimates; the development approach, the timing and amount of future production, timing of studies, announcements and analysis, the timing of construction and development of proposed mines and process facilities; capital and operating expenditures; economic conditions; availability of sufficient financing; exploration plans and any and all other timing, exploration, development, operational, financial, budgetary, economic, legal, social, regulatory and political matters that may influence or be influenced by future events or conditions.
Such forward-looking information and statements are based on a number of material factors and assumptions, including, but not limited in any manner to, those disclosed in any other of Alacer's filings, and include the inherent speculative nature of exploration results; the ability to explore; communications with local stakeholders and community and governmental relations; status of negotiations of joint ventures; weather conditions at Alacer's operations, commodity prices; the ultimate determination of and realization of mineral reserves; existence or realization of mineral resources; the development approach; availability and final receipt of required approvals, titles, licenses and permits; sufficient working capital to develop and operate the mines and implement development plans; access to adequate services and supplies; foreign currency exchange rates; interest rates; access to capital markets and associated cost of funds; availability of a qualified work force; ability to negotiate, finalize and execute relevant agreements; lack of social opposition to the mines or facilities; lack of legal challenges with respect to the property of Alacer; the timing and amount of future production and ability to meet production, cost and capital expenditure targets; timing and ability to produce studies and analysis; capital and operating expenditures; economic conditions; availability of sufficient financing; the ultimate ability to mine, process and sell mineral products on economically favorable terms and any and all other timing, exploration, development, operational, financial, budgetary, economic, legal, social, regulatory and political factors that may influence future events or conditions. While we consider these factors and assumptions to be reasonable based on information currently available to us, they may prove to be incorrect.
You should not place undue reliance on forward-looking information and statements. Forward-looking information and statements are only predictions based on our current expectations and our projections about future events. Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to risks and uncertainties disclosed in Alacer's filings at www.sedar.com and other unforeseen events or circumstances. Other than as required by law, Alacer does not intend, and undertakes no obligation to update any forward-looking information to reflect, among other things, new information or future events.
1 Attributable gold production is reduced by the 20% non-controlling interest at Çöpler.
2 All-in Sustaining Costs/ounce, All-in Costs/ounce and Adjusted Net Profit are non-IFRS financial performance measures with no standardized definition under IFRS. For further information and detailed reconciliations, see the "Non-IFRS Measures" section of the MD&A for March 31, 2014.
3 Includes the Lidya Mining portion of Q1 profits that are expected to be distributed in the first half of 2015.
SOURCE Alacer Gold Corp.
SYS-CON Events announced today that Numerex Corp, a leading provider of managed enterprise solutions enabling the Internet of Things (IoT), will exhibit at the 19th International Cloud Expo | @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Numerex Corp. (NASDAQ:NMRX) is a leading provider of managed enterprise solutions enabling the Internet of Things (IoT). The Company's solutions produce new revenue streams or create operating...
Sep. 28, 2016 01:30 AM EDT Reads: 2,021
WebRTC adoption has generated a wave of creative uses of communications and collaboration through websites, sales apps, customer care and business applications. As WebRTC has become more mainstream it has evolved to use cases beyond the original peer-to-peer case, which has led to a repeating requirement for interoperability with existing infrastructures. In his session at @ThingsExpo, Graham Holt, Executive Vice President of Daitan Group, will cover implementation examples that have enabled ea...
Sep. 28, 2016 01:00 AM EDT Reads: 1,558
Kubernetes is a new and revolutionary open-sourced system for managing containers across multiple hosts in a cluster. Ansible is a simple IT automation tool for just about any requirement for reproducible environments. In his session at @DevOpsSummit at 18th Cloud Expo, Patrick Galbraith, a principal engineer at HPE, discussed how to build a fully functional Kubernetes cluster on a number of virtual machines or bare-metal hosts. Also included will be a brief demonstration of running a Galera M...
Sep. 27, 2016 11:45 PM EDT Reads: 2,975
IoT offers a value of almost $4 trillion to the manufacturing industry through platforms that can improve margins, optimize operations & drive high performance work teams. By using IoT technologies as a foundation, manufacturing customers are integrating worker safety with manufacturing systems, driving deep collaboration and utilizing analytics to exponentially increased per-unit margins. However, as Benoit Lheureux, the VP for Research at Gartner points out, “IoT project implementers often ...
Sep. 27, 2016 10:45 PM EDT Reads: 3,402
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Tintri VM-aware storage is the simplest for virtualized applications and cloud. Organizations including GE, Toyota, United Healthcare, NASA and 6 of the Fortune 15 have said “No to LUNs.” With Tintri they mana...
Sep. 27, 2016 10:45 PM EDT Reads: 2,847
The Jevons Paradox suggests that when technological advances increase efficiency of a resource, it results in an overall increase in consumption. Writing on the increased use of coal as a result of technological improvements, 19th-century economist William Stanley Jevons found that these improvements led to the development of new ways to utilize coal. In his session at 19th Cloud Expo, Mark Thiele, Chief Strategy Officer for Apcera, will compare the Jevons Paradox to modern-day enterprise IT, e...
Sep. 27, 2016 10:30 PM EDT Reads: 2,188
SYS-CON Events announced today the Enterprise IoT Bootcamp, being held November 1-2, 2016, in conjunction with 19th Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA. Combined with real-world scenarios and use cases, the Enterprise IoT Bootcamp is not just based on presentations but with hands-on demos and detailed walkthroughs. We will introduce you to a variety of real world use cases prototyped using Arduino, Raspberry Pi, BeagleBone, Spark, and Intel Edison. Y...
Sep. 27, 2016 09:30 PM EDT Reads: 2,975
Complete Internet of Things (IoT) embedded device security is not just about the device but involves the entire product’s identity, data and control integrity, and services traversing the cloud. A device can no longer be looked at as an island; it is a part of a system. In fact, given the cross-domain interactions enabled by IoT it could be a part of many systems. Also, depending on where the device is deployed, for example, in the office building versus a factory floor or oil field, security ha...
Sep. 27, 2016 09:30 PM EDT Reads: 491
Is your aging software platform suffering from technical debt while the market changes and demands new solutions at a faster clip? It’s a bold move, but you might consider walking away from your core platform and starting fresh. ReadyTalk did exactly that. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue and over a decade of audio conferencing product development to start an innovati...
Sep. 27, 2016 08:30 PM EDT Reads: 2,046
Fifty billion connected devices and still no winning protocols standards. HTTP, WebSockets, MQTT, and CoAP seem to be leading in the IoT protocol race at the moment but many more protocols are getting introduced on a regular basis. Each protocol has its pros and cons depending on the nature of the communications. Does there really need to be only one protocol to rule them all? Of course not. In his session at @ThingsExpo, Chris Matthieu, co-founder and CTO of Octoblu, walk you through how Oct...
Sep. 27, 2016 08:15 PM EDT Reads: 2,238
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Sep. 27, 2016 07:00 PM EDT Reads: 2,874
Whether they’re located in a public, private, or hybrid cloud environment, cloud technologies are constantly evolving. While the innovation is exciting, the end mission of delivering business value and rapidly producing incremental product features is paramount. In his session at @DevOpsSummit at 19th Cloud Expo, Kiran Chitturi, CTO Architect at Sungard AS, will discuss DevOps culture, its evolution of frameworks and technologies, and how it is achieving maturity. He will also cover various st...
Sep. 27, 2016 06:45 PM EDT Reads: 1,824
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
Sep. 27, 2016 06:30 PM EDT Reads: 3,576
There are several IoTs: the Industrial Internet, Consumer Wearables, Wearables and Healthcare, Supply Chains, and the movement toward Smart Grids, Cities, Regions, and Nations. There are competing communications standards every step of the way, a bewildering array of sensors and devices, and an entire world of competing data analytics platforms. To some this appears to be chaos. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Bradley Holt, Developer Advocate a...
Sep. 27, 2016 06:30 PM EDT Reads: 2,214
SYS-CON Events announced today that Niagara Networks will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
Sep. 27, 2016 06:15 PM EDT Reads: 427