Alacer Gold Corp. Announces Earnings and Production Results for the First Quarter Ended March 31, 2017; Reaffirms Production and CapEx Guidance for Year 2017
For the quarter, the company reported gold production was 32,918 ounces, and attributable gold production was 26,334 ounces. Sulfide stockpiles at March 31, 2017 were 7.2 million tonnes at an average grade of 3.36 g/t gold or approximately 780,000 contained gold ounces. Çöpler produced 33,000 ounces.
The company re-confirms 2017 production guidance of 160,000 to 180,000 ounces. With the pasture permit in hand, that expect to produce between 35-40% of its total production in the first half of the year. The company expects over $420 million of CapEx forecast to be spent in the year 2017 and expect annual effective cash tax rate going forward to be around 5%.