Alacer Gold Corp. (ASX:AQG) this morning announced its full-year production and unaudited all-in sustaining costs for 2018, coming in at the lower end of management guidance. The Alacer share price is up 3.7% in early trading this morning.
The low-cost gold producer posted production of 170,865 ounces of gold in 2018 at an all-in sustaining cost of $615 per oxide ounce. This met upwardly revised production guidance of 160,000 to 230,000 ounces. In January, Alacer had provided guidance of 120,000 to 190,000 ounces for 2018 but subsequently lifted this range in July after successful in-pit exploration activities at their oxide plant.
Alacer holds an 80% interest in the Çöpler Gold Mine in Turkey. The company operates an oxide plant as well as a new sulphide plant which is now in full swing, adding 20 years of production at Çöpler and bringing the remaining life-of-mine production to approximately 4 million ounces.
Alacer’s President and CEO, Rod Antal said “Last year’s gold production represented a key milestone for the Company as it included the first production from the newly constructed sulphide plant. The performance of the sulphide plant continues to meet our expectations.”
Alacer plans to release its fourth quarter and full-year 2018 financial statements alongside management discussion on February 5. Guidance for 2019 is to be provided later this month.
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Motley Fool contributor Cale Kalinowski has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.