Alacer posts solid cash flow, production in 2019

The Çöpler mine in eastern Turkey. Image by Alacer Gold

Alacer Gold (TSX: ASR) (ASX: AQG) on Tuesday released its operating and financial results for the full-year ended December 31, 2019. The company had an “exceptional” year in 2019, generating more than $215 million in unlevered cash flow.

With its operating foundation set as an intermediate producer, Alacer’s focus for 2020 is to continue to prioritize free cash flow generation while prudently investing in growth from the Çöpler district. The company intends to publish a new technical report for Çöpler later this year.

Alacer continues to actively explore a number of prospective exploration targets near the Çöpler mine and across Turkey

“We believe we have an asset base capable of sustaining production of 300,000 to 400,000 ounces of gold per year and delivering incremental asset value to our shareholders,” president and CEO Rod Antal stated in a media release.

Last year, the Çöpler mine in Turkey produced 391,213 ounces of gold, with 233,567 ounces produced from the company’s sulphide plant and the balance produced from its oxide plant.

Alacer continues to actively explore a number of prospective exploration targets near the Çöpler mine and across Turkey.

Full-year attributable earnings were $116 million, or $0.39 per share.

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