A strong performance at the Çöpler oxide and sulphide plants, in Turkey, has resulted in “significant” free cash flow for Toronto-headquartered Alacer Gold, which has used the cash to reduce its debt to below $90-million.
The miner reported attributable earnings of $34.8-million, or $0.12 a share, during the September quarter. The company ended the third quarter with cash of $188-million, debt of $298-million, resulting in net debt reducing to $110-million.