Alacer Gold files third quarter financial results and related management's discussion and analysis

Alacer Gold files third quarter financial results and related management's 
discussion and analysis 
TORONTO, Nov. 14, 2012 /CNW/ - Alacer Gold Corp. ("Alacer Gold" or the 
"Corporation") [TSX: ASR and ASX: AQG] today announced that it has filed its 
third quarter 2012 financial results and related management's discussion and 
analysis ("MD&A"). This news release should be read in conjunction with the 
Corporation's complete unaudited interim consolidated financial statements for 
the period ended September 30, 2012 and the related MD&A which are available 
on and on 
Alacer Gold will host a conference call on Wednesday, November 14 at 5:00 pm 
(North America Eastern Standard Time) and Thursday, November 15 at 9:00 am 
(Australian Eastern Daylight Time). Conference call details are provided below. 
Mr. David Quinlivan, President and CEO of Alacer Gold stated, "The Corporation 
maintained its strong balance sheet and saw improved production out of its 
South Kalgoorlie Operations in Western Australia. Higher grade ore 
production is expected at both Higginsville and Çöpler in the fourth quarter 
of 2012 and we remain on track to meet our previously released full-year 2012 
production and cost guidance on an aggregate basis. 
Our focus is to produce the highest margin ounces available in order to 
improve total shareholder returns. I am confident the measures we are putting 
in place to cut costs and improve grades across all of our operations should 
improve the Corporation's operating and financial performance. 
Further to the above measures, I have realigned the Corporation's operational 
executive management structure on geographical lines to provide greater role 
clarity and accountability. The newly-created positions are President - 
Turkish Operations, President - Australian Operations and a global role of 
Chief Technical Services Officer." 
Third Quarter 2012 Performance Summary 
Financial Performance 

    --  Sold 99,355 attributable(1) ounces of gold, (108,310 on 100%
    --  Gold sales revenue of $179.5 million
    --  Realized attributable net profit of $23.4 million ($0.08 per
    --  Generated mining gross profit of $50.9 million
    --  Cash of $280.0 million at September 30, 2012

Operational Performance
    --  Produced 90,951 attributable(1) gold ounces, (99,120 on 100%
    --  Attributable Cash Operating Costs(2) of $747 per ounce and
        attributable Total Cash Costs(2) of $841 per ounce
    --  Çöpler Total Cash Costs(2 )of $416 per ounce
    --  Australian mines Total Cash Costs(2) of $1,080 per ounce

Business Update
    --  Increased Çöpler Measured and Indicated Resource estimate of
        8.0 million ounces as at June 30, 2012
    --  Çöpler Sulfide Feasibility Study on track for completion in
        late 2012
    --  On an aggregate basis, the Corporation remains on track to meet
    --  2013 production and cost guidance and will be released to the
        market in Q1 2013

Operations Management Realignment

The Corporation's executive management positions of Chief Operating Officer, 
Chief Development Officer and Executive Vice President - Mine Performance have 
been eliminated and, effective November 1, 2012, replaced on geographical 
lines with the positions of President - Turkish Operations and President - 
Australian Operations. Howard Stevenson is serving as President - Turkish 
Operations and Tony James is serving as President - Australian Operations. 
Messrs. James and Stevenson will be responsible, respectively, for all capital 
works and ongoing operations at our existing mine sites in Australia and 
Turkey. In addition, Louw Smith has been named Chief Technical Services 
Officer with responsibility to ensure consistency of processes and standards 
across the Turkish and Australian Business Units. These three positions will 
report directly to the President and Chief Executive Officer.

Australian Business Unit ("ABU") Review

As previously disclosed, a strategic and operational review is currently in 
progress to identify opportunities to improve the cash generation and profit 
contribution from the Corporation's ABU. This review is being conducted in 
conjunction with the Corporation's 2013 budgeting process. The results of the 
review will be incorporated into the ABU's budget for 2013 and will be 
released to the market during Q1 2013. This review encompasses a full range 
of strategic and operational options in order to maximize value and 
shareholder return from these assets.

To date, the Corporation has implemented a number of cost-saving initiatives 
in Australia, including demobilizing two open-pit mining fleets at South 
Kalgoorlie Operations ("SKO") and reducing the workforce at both SKO and 
Higginsville by a total of 108 persons. Costs saving initiatives are currently 
focused on evaluating and optimizing underground mine development layouts at 
Higginsville and maximizing open-pit mining grade at SKO.

Çöpler Update and New Developments

An updated Çöpler resource estimate was released during the quarter. The 
Measured and Indicated Resources increased to 182.6 million tonnes at a 
grade of 1.4g/t gold, containing a total of 8.0 million ounces (inclusive of 
reserves) as at June 30, 2012. This resource will form the basis of the mine 
plan in the Çöpler Sulfide Feasibility Study.

The Çöpler Sulfide Feasibility Study was initiated in January 2012 and is on 
track for completion in December 2012. The Corporation expects to disclose 
the results and next steps of the Feasibility Study during Q1 2013. Pilot 
plant pressure oxidation tests were completed in Q2 2012. Based on the 
results of the pilot plant and ongoing process test work, the Corporation 
expects that the twin horizontal autoclaves envisaged in the Çöpler Sulfide 
Pre-Feasibility Study ("PFS") will be replaced with two lines of vertical 
autoclaves. This will facilitate transportation to site and reduce risks 
associated with on-site fabrication. In addition, the throughput of the 
pressure oxidation plant was envisaged to be 8,000 tonnes per day in the PFS. 
Detailed costing is now progressing on a throughput scenario of 10,000 tonnes 
per day. Facility layouts and equipment selection are underway in 
preparation for developing cost estimates consistent with feasibility study 
standards. Initial indications are that capital estimates for construction 
of the sulfide treatment plant will be higher than those estimated in the PFS 
as a result of the proposed increase in throughput, the revised plant 
arrangements and general cost escalation since the PFS costs were estimated in 
Q3 2010. A scoping study is in progress to evaluate the construction of a 
separate mill to treat the higher grade oxide material which is expected to be 
completed in conjunction with the Sulfide Feasibility Study. The Corporation 
has expended $12.0 million on the feasibility study and expects the final 
feasibility study cost to be $18.0 million, which is less than the budgeted 
$25.5 million.

The Sulfidization, Acidification, Recirculation and Thickening ("SART") plant 
is currently scheduled to be commissioned in Q3 2013. Detailed design 
engineering has advanced to 95% completion. All required permitting and 
regulatory approvals have now been received for this plant. The SART plant 
baseline estimated cost is $32.2 million and construction has been approved by 
the Corporation's Board of Directors. To date, the Corporation has committed 
$5.8 million for time sensitive equipment and engineering, of which $2.4 
million has been spent.

Engineering design work for a stand-alone clay sizer/crushing and materials 
handling circuit continued during the quarter. The circuit will supplement 
the existing crushing and materials handling facilities to offer increased 
options for handling the various ore types encountered at the Çöpler mine. 
The capital cost associated with this project is estimated to be $13 million 
and the work is expected to be complete in Q2 2013.

Preliminary evaluation on how to optimize the throughput capacity of the 
carbon-in-column circuit commenced in the quarter.


Higher grades are expected at Higginsville and Çöpler in Q4 2012. On an 
aggregate basis, the Corporation remains on track to meet the previously 
released full-year 2012 production and cost guidance. The Corporation's 
previously announced guidance on an aggregate basis for 2012 is set forth 
immediately below.

Category                           2012 Guidance


Production Ounces              385,000 - 403,000

Cash Operating Costs(4)/ounce        $649 - $675

Total Cash Costs(4)/ounce            $755 - $781
    Total (100% basis)

Production Ounces             423,000 -  443,000

Cash Operating Costs(4)/ounce         $619 - 644

Total Cash Costs(4)/ounce             $719 - 744

Conference Call Details

Alacer Gold will host a conference call on Wednesday, November 14 at 5:00 pm 
(North America Eastern Standard Time) and Thursday, November 15 at 9:00 am 
(Australian Eastern Daylight Time).

You may participate in the conference call by dialing:

1-800-895-0198           for U.S. and Canada

1-800-144-837            for Australia

800-901-494              for Hong Kong

800-101-2018             for Singapore

0-808-101-1183           for United Kingdom

1-785-424-1053           for International

5434417                  Conference ID

If you are unable to participate in the call, a recording of the call will be 
available on Alacer's website at or through replay until 
November 28, 2012 by using passcode 5434417 and calling:

1-888-203-1112            for U.S. and Canada

1-800-154-669             for Australia

800-901-108               for Hong Kong

800-101-2009              for Singapore

0-808-101-1153            for United Kingdom 

1-719-457-0820            for International

About Alacer Gold

Alacer Gold Corp. is a leading intermediate gold mining company with interests 
in multiple mines which provide ore to three processing facilities in 
Australia and Turkey:
    --  80% interest in the Çöpler Gold Mine;
    --  100% interest in the Higginsville Gold Operations;
    --  100% interest in the South Kalgoorlie Gold Operations; and
    --  49% interest in the Frog's Leg Gold Mine.

Alacer Gold's operations produced a total of 411,193 ounces of gold during 

Alacer Gold is executing a growth strategy through the use of cash flows to 
grow production and cash margins to generate strong capital returns. While the 
primary objective is organic growth, the Corporation also identifies and 
evaluates strategic transactions that will add shareholder value.

Qualified Person

The information in this report which relates to Mineral Resources has been 
compiled and approved by Chris Newman, a full-time employee of Alacer, who is 
a Member of the Australasian Institute of Mining and Metallurgy and a Member 
of the Australian Institute of Geoscientists.

Mr. Newman has sufficient experience which is relevant to the style of 
mineralization and type of deposit under consideration and to the activity 
which is being undertaken to qualify as a Competent Person as defined in the 
2004 Edition of the "Australasian Code for Reporting of Exploration Results, 
Mineral Resources and Ore Reserves" and a qualified person pursuant to 
National Instrument 43-101 of the Canadian Securities Administrators. Mr. 
Newman consents to the inclusion in this release of the matters based on this 
information in the form and context in which it appears.

Çöpler Mineral Resource

The following Çöpler Mineral Resource was released during Q3 2012.

|          Mineral Resource for the Çöpler Deposit (100%) as at June 30, 2012    |
|  Gold  |Mineralization|Resource | Tonnes  |Gold |Contained|Silver|Copper|Sulfur|
|Cut-off |              |Category |(million)|Grade|         |      |      |      |
| Grade  |     Type     |         |         |     |  Gold   |Grade |Grade |Grade |
| (g/t)  |              |         |         |(g/t)|(million |(g/t) | (%)  | (%)  |
|        |              |         |         |     | ounces) |      |      |      |
|        |              |Measured |   94.0  | 1.6 |    4.8  |  5.1 |  0.1 |  3.3 |
|        |              |_________|_________|_____|_________|______|______|______|
|        |              |Indicated|   88.7  | 1.1 |    3.2  |  2.8 |  0.1 |  2.5 |
|        |              |_________|_________|_____|_________|______|______|______|
|Variable|      Total   |Measured |   182.6 | 1.4 |    8.0  |  3.9 |  0.1 |  2.9 |
|        |              |+        |         |     |         |      |      |      |
|        |              |Indicated|         |     |         |      |      |      |
|        |              |_________|_________|_____|_________|______|______|______|
|        |              |Inferred |   51.5  | 0.9 |    1.6  |  1.9 |  0.1 |  1.7 |

Note: Resources are quoted after mining depletion and are inclusive of 
reserves. Resources are shown on a 100% basis, of which Alacer Gold owns 
80%. Resource methodology is summarised in the Technical Procedural Section 
of this announcement. Stockpiles consist of a ROM stockpile of 38kt at 3.6g/t 
and a leach pad stockpile estimated at 12.4Mt at 0.18g/t of recoverable gold 
as of 30 June, 2012. Silver, copper and sulfur grades are not included for 
stockpiles. Rounding errors will occur.

Further information on this Mineral Resource estimate is available in an 
announcement dated September 10, 2012.

Cautionary Statements

Except for statements of historical fact relating to Alacer Gold, certain 
statements contained in this press release constitute forward-looking 
information, future oriented financial information, or financial outlooks 
(collectively "forward-looking information") within the meaning of Canadian 
securities laws. Forward-looking information may be contained in this document 
and other public filings of Alacer. Forward-looking information often relates 
to statements concerning Alacer Gold's future outlook and anticipated events 
or results and, in some cases, can be identified by terminology such as "may", 
"will", "could", "should", "expect", "plan", "anticipate", "believe", 
"intend", "estimate", "projects", "predict", "potential", "continue" or other 
similar expressions concerning matters that are not historical facts.

Forward-looking information includes statements concerning, among other 
things, matters relating to proposed exploration, communications with local 
stakeholders and community relations, status of negotiations of joint 
ventures, weather conditions at our operations, commodity prices, mineral 
resources, mineral reserves, realization of mineral reserves, existence or 
realization of mineral resource estimates, the development approach, the 
timing and amount of future production, timing of studies and analyses, the 
timing of construction of proposed mines and process facilities, capital and 
operating expenditures, economic conditions, availability of sufficient 
financing, exploration plans and any and all other timing, exploration, 
development, operational, financial, budgetary, economic, legal, social, 
regulatory and political factors that may influence future events or 
conditions. Such forward-looking information and statements are based on a 
number of material factors and assumptions, including, but not limited in any 
manner to, those disclosed in any other of Alacer Gold's filings, and include 
exploration results and the ability to explore, the ultimate determination of 
mineral reserves, availability and final receipt of required approvals, 
titles, licenses and permits, sufficient working capital to develop and 
operate the mines, access to adequate services and supplies, commodity prices, 
ability to meet production targets, foreign currency exchange rates, interest 
rates, access to capital markets and associated cost of funds, availability of 
a qualified work force, ability to negotiate, finalize and execute relevant 
agreements, lack of social opposition to the mines, lack of legal challenges 
with respect to the property of Alacer Gold and the ultimate ability to mine, 
process and sell mineral products on economically favorable terms. While we 
consider these factors and assumptions to be reasonable based on information 
currently available to us, they may prove to be incorrect.

You should not place undue reliance on forward-looking information and 
statements. Forward-looking information and statements are only predictions 
based on our current expectations and our projections about future events. 
Actual results may vary from such forward-looking information for a variety of 
reasons, including but not limited to risks and uncertainties disclosed in 
Alacer Gold's filings at and other unforeseen events or 
circumstances. Other than as required by law, Alacer does not intend, and 
undertakes no obligation to update any forward-looking information to reflect, 
among other things, new information or future events.

(1) Attributable production and sales includes the Corporation's 80% 
controlling interest at Çöpler. 
(2) Cash Operating Costs and Total Cash Costs are non-IFRS financial 
performance measures with no standardized definitions under IFRS. For further 
information and detailed reconciliations, see the "Non-IFRS Measures" section 
of the Corporation's Q3 2012 MD&A. 
(3) Attributable production includes the Corporation's 80% controlling 
interest at Çöpler. 
(4) Cash Operating Costs and Total Cash Costs are non-IFRS financial 
performance measures with no standardized definitions under IFRS. For further 
information and detailed reconciliations, see the "Non-IFRS Measures" section 
of the Corporation's Q3 2012 MD&A.

Lisa Maestas - North America at +1-303-292-1299 Roger Howe - Australia at 


To view this news release in HTML formatting, please use the following URL:

ST: Ontario

-0- Nov/14/2012 12:45 GMT

Press spacebar to pause and continue. Press esc to stop.