Gold mining company Alacer Gold (ASX:AQG) announced it has achieved its 2017 production guidance, with the fourth quarter seeing the strongest production of the year.
Oxide gold production guidance at the Copler project is 70,000 to 90,000 ounces at the cost of $750 to $800 an ounce.
The company’s Copler sulfide expansion project, which is currently 75 per cent complete, has been delivered on time and on budget so far, and is expected to commence production in the third quarter of this year.
The sulfide expansion project is expected to provide long-term gold production for at least 20 years.
The company’s cash balance is at $203 million with debt of $250 million by the year end.
Shares in Alacer Gold (ASX:AQG) are trading 3.57 per cent higher at $2.32.