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Low-cost intermediate gold producer, Alacer Gold Corp (ASX: AQG) produced 1,70,865 oz of gold in 2018 at unaudited All-in Sustaining Costs of $615/oz. With these results, the company has achieved its Production guidance and surpassed the AISC guidance. The companyâs Ãöpler Gold Mine in which it has 80% interest has solely contributed to the production of 170,865 ounces Gold in 2018. Due to the companyâs strong operational performance in FY18, many analysts have shown a positive view on the stock. Following this, the share price of the company increased by 1.423% on 22 January 2019.Â
In December 2018, the company announced a maiden Mineral Resource for the Ardich oxide gold deposit which is located near to Ãöpler Gold Mine. The Mineral Resource has measured and indicated mineral resource of 294,000 ounces of gold at an average grade of 1.32 gold grams per tonne (6.9MT). The Mineral Resource also contains inferred mineral resource of 85,000 ounces at an average grade of 1.20 Gold grams per tonne (2.2MT).
As per the latest drill results of Ardich gold Prospect, many holes are intersecting predominantly oxide gold mineralization which includes â
Hole AR54 with 61.4m averaging 2.22 grams per tonne gold from 5m depth
Hole AR52 with 57.7m averaging 3.84 grams per tonne gold from 121.3m depth
At the Ardich gold Prospect, the company has submitted its applications for Forestry drill permit to receive approval for further step-out drilling at Ardich. The company has started its work on both Environmental Impact Assessment study and the permitting process. The year 2018 represents a significant step change for the company as the company brought the sulfide plant online in a staged and disciplined manner. During the year, the company successfully completed the construction of the sulfide plant and processing oxide ore. In 2018, the company also achieved its Production guidance and beats AISC guidance. At the end of 2018, the company had a Cash balance of $106mn and debt of $350mn. As at 30 September 2018, the company had working capital of $103 million.
The company also reported that the YTD earnings as at 30 September 2018 were impacted by non-cash unrealized losses of $0.28 per share. The unrealized losses were driven by the weakening of the Turkish currency.
Currently, the company is focusing on leverage its Ãöpler Gold Mine to maximize its portfolio value. During the past one year, the company has yielded a positive return of 21.12 percent by increasing from $2.32 on 22 January 2018 to $2.810 on 21 January 2019. Moreover, in the past five days, the scrip has increased by 0.72 percent. AQGâs shares traded at $2.850 with the market capitalization of circa $833.84 Mn as of January 22, 2019. It has a 52-week high price of $3.010 and a 52-week low price of $2.010, with an average trading volume of ~450,334.
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