TORONTO, Sept. 10, 2013 /CNW/ - Alacer Gold Corp. ("Alacer" or the "Corporation") [TSX: ASR and ASX: AQG] announced today that the Board of Directors (the "Board") has appointed Richard P. Graff as interim Chairman of the Board. Timothy J. Haddon and Rohan I. Williams have each resigned from the Board, effective immediately.
As part of Alacer's new corporate strategy to focus on Turkey in the near-term and the surrounding region in the medium to long-term, the Board is seeking to recruit new independent directors to join the Corporation's Board. The Board will engage an independent third party to assist with the director recruitment and evaluation process.
Mr. Richard P. Graff, Chairman of the Board, commented, "On behalf of the Board and Alacer's shareholders and employees, I would like to thank Rohan for his contributions to Alacer as a former member of senior management and most recently as a Non-Executive Director of the Corporation. We wish Rohan the best of luck in his future endeavors."
Mr. Antal, Chief Executive Officer, commented, "Alacer, and before Alacer was formed, Anatolia, have been very fortunate to have had the benefit of Tim Haddon's experience, mining expertise and leadership over the last fifteen years. Tim has been an integral part of the team that delivered the Çöpler Mine, one of the best mine start-ups during the last five years and one of the best mining assets anywhere in the world. On behalf of the Board and Alacer's shareholders, I would like to thank Tim for his service as Chairman of the Board and a Non-Executive Director of the Corporation. We wish Tim all the best."
Alacer Gold Corp. is a leading intermediate gold mining company with interests in multiple mines which provide ore to three processing facilities in Australia and Turkey:
- 80% interest in the Çöpler Gold Mine;
- 100% interest in the Higginsville Gold Operations; and
100% interest in the South Kalgoorlie Gold Operations.
Alacer's primary focus is to maximize portfolio value, maximize free cash flow, minimize project risk, and return value to shareholders. Alacer has a strong balance sheet and is committed to responsibly developing its current operations and focused exploration programs creating value.
Except for statements of historical fact relating to Alacer, certain statements contained in this press release constitute forward-looking information, future oriented financial information, or financial outlooks (collectively "forward-looking information") within the meaning of Canadian securities laws. Forward-looking information may be contained in this document and other public filings of Alacer. Forward-looking information often relates to statements concerning Alacer's future outlook and anticipated events or results and, in some cases, can be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "projects", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts.
Forward-looking information includes statements concerning, among other things, the ability to recruit new independent directors with the skills or experience necessary to enable Alacer to successfully execute its business strategy; the sales process to sell Alacer's Australian assets; senior management changes; the generation of free cash flow and payment of dividends; matters relating to proposed exploration, communications with local stakeholders and community relations; negotiations of joint ventures, negotiation and completion of transactions; commodity prices; mineral resources, mineral reserves, realization of mineral reserves, existence or realization of mineral resource estimates; the development approach, the timing and amount of future production, timing of studies and analyses, the timing of construction and development of proposed mines and process facilities; capital and operating expenditures; economic conditions; availability of sufficient financing; exploration plans and any and all other timing, exploration, development, operational, financial, budgetary, economic, legal, social, regulatory and political matters that may influence or be influenced by future events or conditions.
Such forward-looking information and statements are based on a number of material factors and assumptions, including, but not limited in any manner to, those disclosed in any other of Alacer's filings, and include the inherent speculative nature of exploration results; the ability to explore; communications with local stakeholders and community and governmental relations; status of negotiations of joint ventures; weather conditions at Alacer's operations, commodity prices; the ultimate determination of and realization of mineral reserves; existence or realization of mineral resources; the development approach; availability and final receipt of required approvals, titles, licenses and permits; sufficient working capital to develop and operate the mines and implement development plans; access to adequate services and supplies; foreign currency exchange rates; interest rates; access to capital markets and associated cost of funds; availability of a qualified work force; ability to negotiate, finalize and execute relevant agreements; lack of social opposition to the mines or facilities; lack of legal challenges with respect to the property of Alacer; the timing and amount of future production and ability to meet production targets; timing and ability to produce studies and analyses; capital and operating expenditures; economic conditions; availability of sufficient financing; the ultimate ability to mine, process and sell mineral products on economically favorable terms, availability of qualified independent directors and senior management and any and all other timing, exploration, development, operational, financial, budgetary, economic, legal, social, regulatory and political factors that may influence future events or conditions. While we consider these factors and assumptions to be reasonable based on information currently available to us, they may prove to be incorrect.
You should not place undue reliance on forward-looking information and statements. Forward-looking information and statements are only predictions based on our current expectations and our projections about future events. Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to risks and uncertainties disclosed in Alacer's filings at www.sedar.com and other unforeseen events or circumstances. Other than as required by law, Alacer does not intend, and undertakes no obligation to update any forward-looking information to reflect, among other things, new information or future events.
SOURCE Alacer Gold Corp.