ÇÖPLER SULFIDE EXPANSION PROJECT

In addition to its open-pit, heap-leach operation that produces gold from oxide ore, the Çöpler orebody also contains refractory sulfide ore that requires a different processing solution than heap-leaching to extract the gold. In June 2014 a Definitive Feasibility Study was completed, determining that the treatment of the sulfide ore via pressure oxidation provided the best economic return. In May 2016 construction commenced on the Çöpler Sulfide Expansion Project and construction of the Sulfide Plant was completed ~11% under budget. The Sulfide Plant is operating and producing gold and provides the next stage of growth for Anagold. The key economic metrics of the Çöpler Sulfide Project are outlined in the table below:

 

Çöpler Sulfide Expansion Project (1)  
First Gold Pour Expected Third quarter 2018
Pre-Production Capital US$660 million
Estimated Mine Life 20 years
Life-of-Mine Production ~3,5 million ounces
All-in Sustaining Costs $645 per ounce
(1) ON 100% BASIS 


Detailed information regarding the Sulfide Project, including the material assumptions on which the forward-looking financial information is based, can be found in the Technical Report dated June 9, 2016 entitled “Çöpler Mine Technical Report,” available on www.sedar.com, www.asx.com.au, and www.alacergold.com.