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Resource Clips


Posts tagged ‘Alacer Gold Corp (ASR)’

Five reasons China is coming to buy your gold mine

August 21st, 2013

by Frik Els | August 21, 2013 | Reprinted by permission of Mining.com

Chinese producers are aggressively looking at picking up gold companies and mines elsewhere as domestic demand reaches record highs.

Takeovers and asset purchases by Hong Kong and mainland miners increased to a record $2.2 billion in 2013 according to data compiled by Bloomberg.

Five reasons China is coming to buy your gold mine

Chinese companies like Zijin Mining Group and Zhaojin Mining Industry Co are in a good position to take a bite out of struggling North American and European-based producers because:

Chinese gold demand is soaring and at 1,000 tonnes will overtake Indian purchases this year, but domestic deposits are less than 5% of the global total.

Targets are cheap—the S&P/TSX Global Gold Index of the globe’s 49 biggest gold companies are down 31% this year alone.

Domestic Chinese producers enjoy some of the lowest cash costs—Zhaojin manages $549 an ounce, compared with a global average of $831.

Chinese and Hong Kong companies have access to cheap capital—Zijin got $4.9 billion in soft loans from a state bank for M&A.

The majors are actively looking to sell as debt levels increase and high-cost mines are mothballed—Barrick Gold TSX:ABX could dump as many as 12 of its mines.

Possible targets include:

While these companies are looking to get rid of a number of mines:

See also: $45bn and counting: China’s foreign mining misadventures

Reprinted by permission of Mining.com

Alacer reports Turkey Gold Assays as high as 1.5 g/t over 323m

May 11th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningAlacer Gold Corp TSX:ASR announced results from its Çöpler Gold Mine in Turkey. Assays include

1.5 g/t gold over 323 metres
1.9 g/t over 65.8 metres
1.3 g/t over 112.2 metres
4.6 g/t over 15 metres
3.4 g/t over 13.7 metres
3 g/t over 37.7 metres
4.7 g/t over 88.2 metres
8.5 g/t over 33.8 metres
12.4 g/t over 17 metres

President/CEO Edward Dowling stated, “Drilling at Çöpler continues to demonstrate that we have yet to define the extent of this large gold deposit. We have recently commenced initial drilling of the area surrounding the old Çöpler village. This area has excellent potential as it has been a gap in drilling along the central-northern portion of the Çöpler orebody.”

View Company Profile

Contact:
Edward Dowling
President/CEO
303.292.1299

by Ted Niles

Aldridge reports Turkey Results of 2.57 g/t Gold, 97.2 g/t Silver, 1.07% Copper over 22m

February 15th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningAldridge Minerals Inc TSXV:AGM announced results from its Yenipazar Deposit in central Turkey. Highlights include

2.57 g/t gold, 97.2 g/t silver, 1.07% copper, 2.99% lead and 5.77% zinc over 22 metres
(including 5.25 g/t gold, 146 g/t silver, 1.6% copper, 4.33% lead and 6.5% zinc over 7 metres)
2.67 g/t gold, 66.73 g/t silver, 0.53% copper, 1.05% lead and 1.3% zinc over 8 metres
3.45 g/t gold, 44.33 g/t silver, 0.77% copper, 0.71% lead and 1.31% zinc over 6 metres
0.78 g/t gold, 17.35 g/t silver, 0.3% copper, 0.68% lead and 0.97% zinc over 25 metres
0.87 g/t gold, 64.62 g/t silver, 0.21% copper, 1.49% lead and 2.14% zinc over 10 metres
0.63 g/t gold, 168.2 g/t silver, 0.08% copper, 3.57% lead and 5.53% zinc over 2 metres

The Yenipazar Deposit is subject to an earn-in agreement with Alacer Gold Corp TSX:ASR wherein Aldridge can earn a 100% working interest subject to certain conditions including a 6% net profit interest until revenues of US$ 165 million are generated, and a 10% NPI after that. A feasibility study is expected to be complete by the end of 2012.

View Company Profile

Contact:
Aldridge Minerals Inc
Mario Caron
CEO/Director
416.477.6985

Jacob Willoughby
President
416.477.6981

Christine Espejo-Hyde
IR Manager
416.477.6982

by Greg Klein

Alacer reports Australia and Turkey Gold Assays including 658 g/t over 2.4m

January 25th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningAlacer Gold Corp TSX:ASR announced results from the Corona prospect of its Higginsville gold operation in Australia, and its Çöpler Gold Mine in Turkey. Corona assays include

658 g/t gold over 2.4 metres
225.2 g/t over 1.9 metres

Çöpler assays include

34.4 g/t gold over 7 metres
3.3 g/t over 37 metres
2.7 g/t over 22 metres
6.9 g/t over 20.6 metres
2.6 g/t over 34 metres
4.6 g/t over 15 metres
1.8 g/t over 72.5 metres
3.4 g/t over 26.5 metres
2.8 g/t over 41 metres
3.1 g/t over 24.3 metres
6.7 g/t over 28 metres
1.5 g/t over 51 metres
11.8 g/t over 87 metres
14.3 g/t over 30 metres
10.3 g/t over 24 metres

President/CEO Edward Dowling remarked, “The high-grade discovery at Higginsville’s Corona Prospect is a very positive affirmation of our systematic approach to exploring Alacer’s large tenement holdings in Australia’s richest gold belt—the Kalgoorlie to Norseman gold belt. The progress made during 2011 has Alacer poised for a potential major discovery in Australia during 2012. Drilling of Alacer’s Çöpler orebody in Turkey continues to extend gold mineralization in several directions and demonstrate that this deposit is truly world class. We are working towards releasing a group resource and reserve statement and also an updated Çöpler resource estimate based on assays received before October 2011.”

View Company Profile

Contact:
Edward Dowling
President/CEO
303.292.1299

by Ted Niles