Markets

Alacer Gold Reports 2012 Tear-End Financial Result; Shares Down 2.8%

Alacer Gold (ASR.TO) today reported its financial results for the year ended 2012.

Financial

- Working capital increased by $159.7 million during the year to $203.9 million at December 31, 2012, due to the maturing of Alacer's C$100 million convertible debentures in April 2012, improved cash balances and increased heap-leach inventory at Çöpler.

- During Q4 2012, the Corporation recorded impairment charges of $490.0 million for non-current assets in Australia.

- Attributable net loss of $386.0 million for 2012, compared to attributable net profit of $75.2 million in 2011.

-Attributable Net Profit Pre-Impairment of $118.6 million for 2012, compared to $75.2 million in 2011.

Alacer also announced it intends to pay a special dividend of approximately $70 million after the closing of the sale of its 49% minority interest in the Frog's Leg Mine.

Shares are down 11 cents (2.88%) to $3.71 late morning.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos

MTNewswires

Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

Learn More