Rodney P. Antal, the CEO/Director of Alacer Gold Corp (TSE:ASR), said there is a definitive pathway for its Copler mining operation to generate positive cash flow for the next 20 years.
Alacer Gold Group is a Denver, Colorado company with a US$625 million market cap and US$292 million in cash. It has a goal of becoming a multi-mine producer, and claims it has identified high-quality targets in several locations in Turkey. The company has been in that country for 18 years, and believes its Tethyan Belt is “historically under-explored and has excellent mineral potential,” Antal said.
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Alacer has confirmed solid oxide gold production at its Copler mine and expects it to last to 2017, with sulfide gold production increasing the mine life by 17 years, Antal said.
The company is also studying how to expand its existing heap leach pad capacity at that location and anticipates from initial studies adding 15-20Mt of additional capacity, Antal said. The heap leach operation consistently delivers substantial cash flow, he added.
In addition to Copler, Alacer has also drilled 250 holes at its Dursunbey Project in western Turkey. The initial metallurgical work to determine processing options at the location is underway, Antal said.
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