Alacer Gold Corporation (ASX:AQG, TSX:ASR) has outlined its plans to maximise free cash flow and portfolio value, minimise project risk and return value to shareholders.
Following the completion of a strategic review the gold producer has inked a $US171 million deal to sell its 49 per cent stake in the Frog's Leg gold mine in Western Australia.
As a result of the transaction Alacer will pay its shareholders a special dividend of about $70 million.
The sales deal has been made with La Mancha Resources Australia and includes an 18-month arrangement to process ore from Frog's Leg at Alacer's mill.
Alacer Gold expects to deliver between 330,000 and 365,000 ounces of gold in 2013, rising from about 328,000 ounces in 2012.
Alacer Gold generated a net profit of $82.9 million in the 2011 calendar year.
