August 14, 2020, Toronto: Alacer Gold Corp. (“Alacer” or the “Company”) [TSX: ASR and ASX: AQG] announced today that it has filed its second quarter 2020 operating and financial results and related management’s discussion and analysis (“MD&A”). The corresponding financial statements and MD&A are available on www.AlacerGold.com, on www.SEDAR.com, and www.asx.com.au. All currencies referenced herein are denominated in USD unless otherwise stated.
Highlights
Operational
? Gold production was 167,212 ounces through June 30, 2020 which is on track to meet 20201 guidance.
? The Çöpler Gold Mine achieved 3.9 million man-hours and 309 days lost-time injury (“LTI”) free at June 30, 2020.
? The planned major shutdown of autoclave 1 in 2020, which was scheduled for June, was delayed due to the excellent condition found in autoclave 2 during its shutdown in March 2020. Year to date operating time for the autoclaves remains high at 93%.
? Operations continued uninterrupted through the period. However, COVID-19 restrictions and diversion of the remaining resources to manage COVID-19, and delayed improvement initiatives had some impact on operational performance. Proactively sending home older staff, and those with existing health conditions, also had an impact on mining operations through a shortfall of mine operators. This contributed to a decision to adopt a revised mine plan to diversify ore sources.
? Consolidated All-In Sustaining Costs per ounce2 sold (“AISC”) was $847 through June 30, 2020, which is above guidance1 of $735 to $785 per ounce primarily due to higher royalty expense from higher gold prices, SSR Mining merger costs, COVID-19 impact, and higher share based compensation expense due to the Company’s higher share price. Adjusting for these items, results in the Company’s AISC being within guidance, and the Company remains on track to meet its full year 2020 AISC guidance.
Growth
? On May 11, 2020, Alacer and SSR Mining announced an at-market merger of equals to create a free cash flow focused, diversified gold producer. The combined entity will continue as SSR Mining Inc. and will be headquartered in Denver, Colorado with a corporate office in Vancouver, British Columbia and will be led by Michael Anglin as Chairman and Rod Antal as President and CEO.
? The Company continued its focus on improving and extending oxide gold production in future years beyond the current Çöpler oxide reserves by accelerating the development of a number of near-mine targets within the Çöpler pits and surrounding areas with 15 drill rigs currently active.
? Drilling activities at the Ardich deposit continued in Q2. Ardich has an interim Indicated Mineral Resource of approximately 817,000 ounces of gold (15.86 million tonnes at 1.60 g/t of gold (“Au”) and an Inferred Mineral Resource of approximately 594,000 ounces of gold (8.80 million tonnes at 2.10 g/t Au).
? An updated Çöpler District Technical Report (“Technical Report”) is planned to be released in the second half of 2020. This will include preliminary development plans for Ardich, updating the performance expectations of the Çöpler sulfide plant, incorporating a proposed supplemental flotation circuit, as well as opportunities for tailings storage expansion and for resource conversion in Çöpler.
? The potential for heap leach pad constraints has been eliminated with the progression of an approximate 25 million tonnes Çöpler heap leach pad expansion that will be built in phases over the coming years and providing
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approximately 5 years of additional oxide processing capacity. The first stage of this heap leach pad expansion is now available.
? The Company continues to actively explore a number of highly prospective exploration targets across Turkey.
Financial
? YTD attributable earnings were $57 million and YTD normalized attributable earnings3 were $0.19 per share.
? The Company ended the second quarter with consolidated cash4 of $279 million, debt5 of $245 million, resulting in a net cash position of $34 million.
? Gold sales through June 30, 2020 were 166,220 ounces resulting in revenue of $273.6 million and cash flow from operating activities of $148.4 million.
Conference Call / Webcast Details
Alacer will host a conference call on Friday, August 14, 2020 at 5:00 p.m. (North America Eastern Daylight Time) / Saturday, August 15, 2020 at 7:00 a.m. (Australian Eastern Standard Time).
You may listen to the call via webcast at http://services.choruscall.ca/links/alacer20200814.html. The conference call presentation will also be available at the link provided prior to the call commencing.

And

Alacer Gold Corp.
MANAGEMENT’S DISCUSSION AND ANALYSIS
For the three and six months ended June 30, 2020 and 2019
Alacer - A Leading, Free Cash Flow Generating Intermediate Gold Producer
see & read more on
https://www.alacergold.com/docs/default-source/press-releases/alacer-2020-q2-mda-final.pdf?sfvrsn=0