Alacer Gold announces 2013 year-end financial results and declares annual dividend

Alacer Gold announces 2013 year-end financial results and declares annual 
dividend 
TORONTO, March 12, 2014 /CNW/ - Alacer Gold Corp. ("Alacer" or the 
"Corporation") [TSX: ASR and ASX: AQG] announced today that it has filed its 
financial results and related management's discussion and analysis ("MD&A") 
for the year ended December 31, 2013. The corresponding financial statements 
and MD&A are available on www.AlacerGold.com and on www.SEDAR.com. All 
currencies referenced herein are denominated in USD unless otherwise stated. 
Rod Antal, Alacer's Chief Executive Officer, stated "2013 was a transformative 
year for Alacer as the business was streamlined and refocused on our quality 
assets in Turkey. Our Çöpler Gold Mine achieved record annual gold 
production of 216,850 attributable(1) ounces, a 44% increase over 2012 at $864 
All-in Costs(2). Çöpler's excellent performance is expected to continue in 
2014, with planned gold production forecast to be greater than 160,000 
attributable ounces at one of the lowest All-in Costs(2) in the gold industry. 
The strength of Alacer's business in Turkey is reflected in the Adjusted Net 
Profit(2 )of $111.7 million, or $0.39 per share, for 2013.  With a cash 
position at year end of $290 million(3) and no debt, Alacer has a solid 
financial foundation to support our future plans. Based on these results, 
today the Board declared a dividend of $0.02 per share." 
2013 Highlights 
Strategic 


        --  The DFS for a 5,000 tonne per day whole-ore pressure oxidation
            processing method for Çöpler sulfide ore is progressing to plan
            and is on track to be released in Q2 2014.
        --  On September 23, 2013 the Corporation released a four-year
            oxide production profile for Çöpler, highlighting the continued
            contributions through 2017 from its low-cost heap leach
            operation in Turkey.
        --  On April 30, 2013, the Corporation paid a special dividend of
            $0.24 per share totaling $70.3 million.
        --  The executive management team was reduced in conjunction with
            the Corporation's new strategy to focus on Turkey. The
            reductions will result in decreased general and administrative
            costs in 2014.
        --  The Corporation divested its Australian assets during the year
            via two strategic transactions that completed on April 8 and
            October 29, 2103.

Operational - Çöpler
        --  A milestone was passed in November 2013 when Çöpler reached two
            million man-hours worked without a lost-time injury.
        --  Record annual gold production was achieved, with  216,850
            attributable1 ounces poured for the year.
        --  Improvements to the crushing/agglomerating and stacking
            circuits during 2013 led to increased ore throughput and gold
            recovery rates.  The ratio between gold produced and contained
            gold in ore stacked increased to 66% for 2013.
        --  All-in Costs/ounce4 were  $864 for 2013.
        --  SART plant construction was completed and dry-commissioned
            during Q4 2013 with operation expected to start in 2014 when
            required by elevated copper grades in the leach solution.
        --  1.3 million tonnes of sulfide ore were added to stockpiles
            during 2013 with an average grade of 4.94 g/t. Sulfide ore
            mined is providing significant positive gold reconciliation to
            the resource block models and to date has led to a 39% positive
            reconciliation on a contained ounce basis composed of lower
            than expected tonnage and higher than expected gold grade. 
            Extensive work is being undertaken   to understand the factors
            contributing to these positive gold reconciliations and until
            such work is complete, the impact of such reconciliation on the
            DFS is unknown and therefore subject to uncertainty.

Financial
        --  The Corporation ended 2013 with cash and cash equivalents of
            $289.6 million5.
        --  The Corporation had no external debt at December 31, 2013.
        --  Working capital increased by $126.7 million during the year to
            $315.3 million.
        --  Attributable net profit from continuing operations was $68.0
            million for 2013.
        --  Adjusted Net Profit4was $111.7 million, or  $0.39  per share,
            for 2013.
        --  Operating cash flow from continuing operations totaled $184.5
            million for 2013.
        --  Free cash flow6 for the Corporation totaled $12.4 million and
            on March 12, 2014, the Corporation's Board of Directors
            declared a dividend of $0.02 per share (approximately $5.8
            million) payable on April 15, 2014 (in Canada) to shareholders
            of record at the close of business on March 31, 2014.

Annual Dividend

The Corporation's Board of Directors has declared a dividend of $0.02 per 
share (approximately $5.8 million) payable on April 15, 2014 (in Canada) to 
shareholders of record at the close of business on March 31, 2014.

The dividend payment applies to holders of Alacer's common shares, which trade 
on the Toronto Stock Exchange under the symbol ASR, and to holders of its 
CHESS depository instruments ("CDIs"), which trade on the Australian 
Securities Exchange under the symbol AQG. Each CDI confers a beneficial 
interest in one common share. Therefore, CDI holders are entitled to a 
dividend calculated on the same basis as the holders of Alacer's common shares.

Alacer has sought and been granted a temporary waiver of certain of the ASX 
Settlement Operating Rules. Under the authority of the waiver, the processing 
of conversions of common shares to CDIs, or CDIs to common shares, lodged on 
or after March 25, 2014, will be deferred until after the record date of March 
31, 2014.
    _________________________________________
    1 Attributable gold production is reduced by the 20% non-controlling
    interest at Çöpler.
    2 All-in Costs and Adjusted Net Profit 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 MD&A for the year ended December 31, 2013.
    3 Includes approximately $25.5 million expected to be paid to Lidya
    Mining in H1 2014 as a distribution of its share of 2013 Çöpler
    profits.
    4 All-in Costs/ounce and Adjusted Net Profit are non-IFRS financial
    performance measures with no standardized definitionunder IFRS. For
    further information and detailed reconciliations, see the "Non-IFRS
    Measures" section of the MD&A for the year ended December 31, 2013.
    5 Includes approximately $25.5 million expected to be paid to Lidya
    Mining in H1 2014 as a distribution of its share of 2013 Çöpler
    profits.
    6 Free cash flow is a non-IFRS measure and represents the net change in
    cash balance subject to the Corporation's dividend policy.

The key dates with respect to the dividend are as follows:
    Last date for processing requests to      March 24, 2014
    convert CDIs into
    common shares and to convert common
    shares into CDIs
    before the record date for the dividend
                                               
    CDIs trade on the ASX on an ex-dividend   March 25, 2014
    basis
                                               
    Common shares trade on the TSX on an      March 27, 2014
    ex-dividend basis
                                               
    Record date for the dividend              March 31, 2014
                                               
    Processing recommences for requests to    April 1, 2014
    convert CDIs into
    common shares and to convert common
    shares into CDIs
                                               
    Common share dividend payment date        April 15, 2014 (in Canada)
                                               
    Payment of dividend to CDI holders        April 16, 2014 (in Australia)

The dates set out above are based on the directors' current expectations and 
may be subject to change. If any of the dates should change, the revised dates 
will be announced by press release and will be available from 
www.alacergold.com.

As required by Appendix 6A of the ASX listing rules for Australian income tax 
purposes, the dividend is unfranked and there is no amount of Conduit Foreign 
Income per security for this dividend payment.

Payments to Canadian shareholders will be made in Canadian dollars based on 
the "noon rate" exchange rate in Canada prevailing on the record date as 
reported by the Bank of Canada.  For CDI holders, payments will be made in 
Australian dollars at the nominal exchange rate prevailing on the record date 
as reported by the Bank of Canada as of noon (North America Eastern Daylight 
time) on the record date. Payments to other shareholders will be made in U.S. 
dollars.

Shareholders are advised that this dividend is designated by Alacer to be an 
"eligible dividend" pursuant to subsection 89(14) of the Income Tax Act 
(Canada) and corresponding provincial legislation.  As the dividend originates 
from Canada, non-resident withholding tax will be deducted as required by 
Canadian regulations. The non-resident withholding tax is 25% unless a 
shareholder has certified that he or she is a resident of a country with a tax 
treaty with Canada.  Shareholders who are residents of countries with which 
Canada has a tax treaty must certify their non-resident status every three 
years, or when there is a change in the shareholder's eligibility for the 
declared treaty benefits (and, in the case of a partnership or hybrid entity, 
when there is a change in the effective rate of withholding).

All shareholders who are entitled to tax treaty benefits and who did not 
certify their status last year or who have had a change in their status or 
effective withholding rate since last year's certification must complete a 
NR301 (or NR302/NR303) form and return it to CST Trust Company ("CST") by mail 
to P.O. Box 700, Station B, Montreal, Quebec, H3B 3K3, Canada or by fax to 
1-888-249-6189 prior to the record date. The certification forms, along with 
detailed guidance and instructions, are available on the Canada Revenue Agency 
website at http://www.cra-arc.gc.ca/E/pbg/tf/nr301/README.html.  CDI holders 
who are entitled to tax treaty benefits and who did not certify their status 
last year or who have had a change in their status or effective withholding 
rate since last year's certification must complete the required form and 
return it to Link Market Services Limited ("Link") by mail to Locked Bag A14, 
Sidney South, NSW 1235 Australian prior to the record date.  If you have any 
questions, shareholders may contact CST by telephone at 1-800-387-0825 (toll 
free in North America) or 1-416-682-3860 or by e-mail at 
inquiries@canstockta.com and CDI holders may contact Link at 61-1300-554-474 
or by email at registrars@linkmarketservices.com.au. Shareholders that do not 
return the NR301 (or NR302/NR303) by the record date will be subject to the 
non-treaty tax withholding rate of 25%.

Conference Call / Webcast Details

Alacer will host a conference call on Wednesday, March 12 at 5:30 pm (North 
America Eastern Daylight Time)/ Thursday, March 13 at 8:30 a.m. (Australian 
Eastern Daylight Time).

You may listen to the call via webcast at 
http://services.choruscall.ca/links/alacer140312.html.The conference call 
presentation will also be available at the link provided prior to the call 
commencing.

You may participate in the conference call by dialing:
    1-800-319-4610            for U.S. and Canada
    1-800-423-528             for Australia
    800-930-470               for Hong Kong
    800-101-2425              for Singapore
    1-800-017-8660            for United Kingdom
    1-604-638-5340            for International
    "Alacer Gold Call"        Conference ID

If you are unable to participate in the call, a webcast will be archived until 
Thursday, June 12, 2014 and a recording of the call will be available on 
Alacer's website at www.AlacerGold.com or through replay until Friday, April 
11, 2014 by using passcode 8901# and calling:
    1-800-319-6413       for U.S. and Canada
    1-800-638-9854       for Australia

The corresponding financial statements and management's discussion and 
analysis will be posted on Alacer's website and on www.SEDAR.com.

About Alacer

Alacer Gold Corp. is a leading intermediate gold mining company and its 
world-class operation is the 80% owned Çöpler Gold Mine in Turkey. Alacer 
also has 11 active exploration projects in Turkey which are joint ventures 
with our Turkish partner Lidya Mining.

During 2013, Çöpler produced 216,850 attributable(7) ounces at an All-In 
Costs(8) of $864 per ounce.
    _________________________________________
    7 Attributable gold production is reduced by the 20% non-controlling
    interest at Çöpler.
    8 All-in Costs is a non-IFRS financial performance measure with no
    standardized definition under IFRS. For further information and
    detailed reconciliation, see the "Non-IFRS Measures" section of the
    MD&A for the year ended December 31, 2013.

Çöpler is currently an open-pit, heap-leach operation that is producing gold 
from oxide ore. The treatment of sulfide ore via pressure oxidation is being 
evaluated and a Definitive Feasibility Study is planned to be completed in Q2 
2014.

Cautionary Statements

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, preliminary cost reporting in this news release, production, cost and 
capital expenditure guidance; development plans for processing sulfide ore at 
Çöpler; amount of contained ounces in sulfide ore; results of any grade 
reconciliations; ability to discover additional oxide gold ore, 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, announcements and analysis, 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 
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'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, cost and capital 
expenditure targets; timing and ability to produce studies and analysis; 
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.



SOURCE  Alacer Gold Corp. 
For further information on Alacer Gold Corp., please contact: 
Lisa Maestas - Director of Investor Relations - North America at  
1-303-292-1299 Roger Howe - Director of Investor Relations - Australia at  
61-2-9953-2470 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/March2014/12/c4659.html 
CO: Alacer Gold Corp.
ST: Ontario
NI: MNG PCS ERN DIV CONF  
-0- Mar/12/2014 09:30 GMT
 
 
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