Alacer Gold Corporation's (ASX:AQG, TSX:ASR) shareholders can look forward to sharing a special dividend of about $70 million after the gold producer finalised the sale of its stake in the Frog's Leg gold mine in Western Australia.
Alacer Gold announced the divestment in February 2013 following the completion of a strategic review.
The company believes selling its 49 per cent stake in the Frog's Leg gold mine will enable it to maximise free cash flow and portfolio value, minimise project risk and return value to shareholders.
Alacer Gold expects the transaction to close on April 5, 2013 after which the board of directors will approve the special dividend and release more details to the market.
Alacer Gold Corporation generated a net loss of $329.7 million in the 2012 calendar year.
