You are using an older browser version. Please use a supported version for the best MSN experience.

Alacer Gold cuts 2016 output guidance

AAP logoAAP 6/12/2016

Turkey-focused miner Alacer Gold has cut its output guidance and raised cost guidance for 2016 citing production delays.

It now expects to produce between 115,000 to 125,000 ounces of gold, down from its previous estimate of 150,000 to 170,000 ounces. All-in costs are now likely to $US900 to $US950 an ounce, compared to its earlier estimate of $US780 to $US830 an ounce.

The gold miner said, while it has revived production that had been impacted due to delays in accessing higher grade ore in the Marble Pit site, the slower than expected flow of solution will mean it will not meet the earlier guidance and that it expects the shortfall to be made up in 2017.

image beaconimage beaconimage beacon