Alacer Gold's Shares Uplifted On ASX After Achieving 2018 Production Guidance

Alacer Gold Corp (ASX: AQG) is involved in the operations of mining, development, and exploration of mineral deposits in Turkey. On 10 January 2018, the company announced its full-year production details for 2018, with unaudited All-in sustaining costs.

Highlights of 2018:

  • During 2018, the company produced 170,865oz of gold from its Çöpler Gold Mine, out of which 147,619oz were produced from the oxide plant and 23,246oz of gold produced from the sulfide plant.
  • As at 31 December 2018, Alacer Gold Corp had a Cash balance of $106mn and debt of $350mn.Â

As per the Company’s President and CEO Mr. Rod Antal, due to the productive last quarter of 2018, the company was able to reach its production to 170,8652 ounces of gold in 2018 from its Çöpler Gold Mine at unaudited All-in Sustaining Costs of $615/oz. He further informed that Alacer Gold’s sulfide plant performance was in line with the company’s expectation.

The company will release the guidance for 2019 later in January 2019. Further, the company’s financial statement for Q4 2018 and Full Year 2018 and the related management’s discussion and analysis (MD&A) scheduled to release on or about 5th February 2019.

The company has recently given a notice on the change in the interest of the director dated January 7, 2018. Company’s Director Mr. Rodney P. Antal held 1.33 million common shares in the capital of Alcer Gold Corporation and 1.13 million restricted shares, prior to any change in the directorship. He acquired 313,818 common shares and 559814 restricted shares and disposed of 546,936 restricted shares. After the change in interest, Mr. Rodney is holding 1.65 million common shares and 1.14 million restricted shares in the capital of Alcer Gold Corporation.

On 12 December 2018, the company announced details about its substantial holder Australian Super PTY Limited which is now holding 14.72 million shares ordinary shares of the company with 5.01% power rights.

Alacer is currently having 80 percent interest in the world-class Çöpler Gold Mine which is in east-central Turkey in the Erzincan Province, around 550 kilometers east from Ankara and 1,100 kilometers southeast from Istanbul.

Now, let us quickly look at the performance of Alcer Gold Corp’s stock and the return it has posted over the last few months. The stock is currently trading at $2.880 with a gain of 6.667% during the day’s trade. The current market capitalization is $801.19 million. The company's shares are trading at a price-earnings multiple of 10.970x with an EPS of 0.246 AUD. The company posted a YTD return of 3.85% and returns of 1.12%, 11.57% and 22.17% over the last six months, three months and one-month period respectively. It has a 52-week high price of $3.010 and a 52-week low of $2.010, with an average volume of 413,352.


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