By - David Winning
Category - Sell Gold
Posted By - Cash World Gold Buyers
SYDNEY--Gold
producer Alacer Gold Corp. (AQG.AU) said Monday it had agreed to sell
its 49% stake in the Frog's Leg gold mine near Kalgoorlie in Western
Australia state following a strategic review.
Alacer
Gold said binding terms had been agreed with La Mancha Resources
Australia Pty Ltd. for the sale of its stake in the mine, plus two
exploration properties, for US171 million. The terms include an 18-month
agreement to process ore from Frog's Leg at Alacer's mill nearby.
Alacer,
formed in 2011 with the merger of Toronto-listed Anatolia Minerals
Development Ltd. and Australian gold producer Avoca Resources Ltd., has
gold operations in Australia and a portfolio of prospective gold and
base metal projects in Turkey.
The company expects
to produce between 330,000 and 365,000 troy ounces of gold in the 2013
fiscal year through Dec. 31, up from 328,098 ounces in the previous 12
months.
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