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Alacer Gold's Profits Stay Strong Amid Declining Gold Prices

Summary

  • Alacer Gold saw half-year profits climbed 56% despite a 7% decline in the selling price of gold.
  • Alacer Gold produced $20 million in free cash flow in the first half of the year.
  • Gold production and costs remain on track to meet this year’s guidance estimates.
  • Elections in Turkey have slowed the permitting process at the Çöpler sulfide project.

Alacer Gold (OTCPK:ALIAF) is an intermediate gold producer that owns an 80% stake in the Çöpler gold mine in eastern Turkey. Lidya Mining owns the remainder. The company reported second quarter revenue and earnings that increased and beat analyst estimates. Gold production and sales posted steady growth in the second quarter and the first half of the year. Çöpler gold production is in line with expectations, and remains on track to meet this year's production estimates.


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