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Business Description: Alacer Gold Corp (AQG) is mid-tier gold producer with a globally diversified asset portfolio, including interests in multiple operating mines which feed three regional processing facilities in Australia and Turkey.
Strategy Analysis: AQG is a gold exploration and production company. Within this, the company has operations in Turkey whereby the mine, Copler, has had a ramp up in production towards 37,000oz. Complementing this has been the mines operating costs decreasing by $126/oz to $259/oz. On the domestic front, the company‚Äôs Higginsville operation has surpassed its 500,000 oz milestone and the company aims to consolidate this with a production target of 155koz @ $795/oz operating costs. It is said to be on target towards achieving the targeted 1.5Mtpa @ 4.5g/t.
Alacer Gold Corp announced that it has filed its financial results and related management's discussion and analysis for the year ended December 31, 2012. The company's 2012 attributable net profit pre-impairment and other write-downs was $118.6m ($0.42/share). Cash generated by operating activities totalled $238.9m during the year and the company's cash balance at the end of 2012 increased to $277.3m. The company's attributable gold production totalled 381,738oz for 2012. In Turkey, Copler continues to provide significant free cash flow at an average total cash cost of $375/oz. In Australia, various initiatives to increase free cash flow will continue at both Higginsville and South Kalgoorlie operations.
By Michael McCarthy (chief market strategist, CMC Markets) 19/12/2014 |
Traders and investors caught short heading into the FOMC scrambled for cover in Europe and the US, in many cases driving indices to their best one day performance for 2015.
By Betty Lam (Sales Trader, CMC Markets) 18/12/2014 |
Lead by the Fed-fervour offshore, Australians shares jumped on the Yellen cheer wagon. The material and energy stocks were back in vogue as both sectors gained over 3% in morning trade.
By Michael McCarthy (chief market strategist, CMC Markets) 18/12/2014 |
In spite of a frenzied pre-mortem, a benign statement from the US Federal Reserve‚Äôs Open Market Committee and steadying commodity markets drove investors back into share markets overnight. A calmer, stronger ruble helped offset European growth fears, highlighted in the overnight session by further declines in inflation.
By Betty Lam (Sales Trader, CMC Markets) 11/12/2014 |
Offshore jitters sent ripples through to Australian stocks. The open saw the local equities take 65 points off the index, catalysed by a mass-exit in energy stocks, yet again.
By Ric Spooner (Chief Market Analyst, CMC Markets) 10/12/2014 |
Yesterday‚Äôs news on Greek politics and China‚Äôs bond market came at a time when US and European stock markets have extended rallies and pushed valuations higher. This makes those markets vulnerable to downward corrections as profit takers act to avoid missing out.
BR Securities Australia Pty Ltd 2/12/2014 |
December 2014 could go down as a nasty moment in Australian finance. MYEFO will reveal a deteriorating budget deficit and the UNFCCC meeting in Lima, Peru will provide the agreement, to be ratified in Paris in 2015, on how much (or little) CO2 is to be allowed into the atmosphere from 2020.
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