Alacer Gold announces decision to pursue sale of Australian assets
TORONTO, June 12, 2013 /CNW/ - Alacer Gold Corp. ("Alacer") [TSX: ASR and ASX:
AQG] announces today that it has initiated a process to pursue a sale of its
Mr. David Quinlivan, President and Chief Executive Officer of Alacer stated,
"Alacer has recently received confidential, non-binding expressions of
interest from several parties interested in purchasing its Australian assets.
The sale of the Australian assets would enable the company to focus on its
high margin operations and exploration activities at its world class Çöpler
Mine in Turkey."
The timing and outcome of any sale is uncertain. Alacer will keep the market
informed of material developments.
Alacer is a leading mid-tier gold producer with mines and processing
facilities in Turkey and Australia:
-- 80% interest in the Çöpler Gold Mine;
-- 100% interest in the Higginsville Gold Operations; and
-- 100% interest in the South Kalgoorlie Gold Operations.
Alacer's primary focus is to maximize portfolio value, maximize free cash
flow, minimize project risk, and returning value to shareholders. Alacer is
committed to responsibly developing its current operations and focused
exploration programs creating value.
Except for statements of historical fact relating to Alacer, 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'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, the ability of Alacer to sell its Australian assets; the sale of
Alacer's Australian assets and the proceeds from such sale being realized; the
generation of free cash flow and payment of dividends; matters relating to
proposed exploration, communications with local stakeholders and community
relations; negotiations of joint ventures, negotiation and completion of
transactions; 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 and
development 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 matters that may influence or be influenced by future events or
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's filings, and include the inherent
speculative nature of exploration results; the ability to explore;
communications with local stakeholders and community and governmental
relations; status of negotiations of joint ventures; weather conditions at
Alacer's operations, commodity prices; the ultimate determination of and
realization of mineral reserves; existence or realization of mineral
resources; the development approach; availability and final receipt of
required approvals, titles, licenses and permits; sufficient working capital
to develop and operate the mines and implement development plans; access to
adequate services and supplies; 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 or facilities; lack of
legal challenges with respect to the property of Alacer; the timing and amount
of future production and ability to meet production targets; timing and
ability to produce studies and analyses; capital and operating expenditures;
economic conditions; availability of sufficient financing; the ultimate
ability to mine, process and sell mineral products on economically favorable
terms 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. 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's filings at www.sedar.com 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.
For further information on Alacer Gold Corp., please contact: Lisa Maestas -
North America at +1-303-292-1299 Roger Howe - Australia at +61-2-9953-2470
Candice Sgroi - Director of External Relations: +61 8 9226 0625/+61 419 705
SOURCE: Alacer Gold Corp.
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-0- Jun/12/2013 20:30 GMT
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