Alacer Gold Corp
(ASX:AQG) has finalised the sale of its stake in the Frog's Leg gold mine in Western Australia to La Mancha Resources Australia.
Proceeds of the sale totalled $138.5 million and shareholders will receive a $70 million dividend as a result of the sale.
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 Corporation generated a net loss of $329.7 million in the 2012 calendar year.
