TORONTO, Jan. 11 /CNW/ - Anatolia Minerals Development Limited ("Anatolia" or the "Company") (TSX:ANO) announces an update of construction and development activities at the Çopler Gold Mine in Turkey. Please visit our website at www.anatoliaminerals.com for recent construction photos.
Edward Dowling, President and CEO of Anatolia Minerals commented, "Solid progress is being made against the Çopler development plan on all fronts and the start of mining during December was a seminal event for the Company. The volume of activity on site continues to increase and we are appreciative of the cooperation and working relationships with our construction and local community partners. Extra resources are being brought to bear where warranted to accelerate the schedule for the planned first gold pour in the fourth quarter of 2010."
Critical path items are on schedule with no recorded lost time accidents during the fourth quarter 2009. Winter weather, so far, has been favorable with relatively mild temperatures experienced at the Çopler site and no significant snowfalls. The favorable weather has allowed the filling and compacting of the sub-grade for Cell 1 of the heap leach pad to continue uninterrupted. Earthworks contractors have been working an extended shift to maximize daylight hours and a second shift was implemented January 4th on tasks which can be undertaken safely at night.
The vertical excavation of approximately 23 meters for the foundations of the primary crusher is complete. The concrete batch plant has been commissioned and the concrete contractor is scheduled to mobilize to site this month to commence forming and pouring the primary crusher foundations.
Final shipments of the ADR plant are scheduled to arrive on site during the first quarter 2010.
Mining commenced during December 2009 in the Manganese Pit area with ore being stockpiled ahead of the primary crusher. Barren rock is being used for leach pad sub-grade fill and other construction requirements. The explosives' magazine is complete, fully permitted and is being used in mining activities. The assay lab has been commissioned.
The main power line is being partially rerouted to avoid unfavorable ground conditions in a short section west of the property, and final feeder connections are being completed at Divrigi. Earthworks for the main substation at the plant site are complete and the substation contractor is mobilizing to site.
The mechanical equipment and piping installation contract has been adjudicated and awarded. This contractor is scheduled to commence mobilization this month. The electrical and instrumentation contract is undergoing final adjudication and will be awarded shortly.
The Company made good progress on resettlement activities during the fourth quarter 2009. Activities centered on acquisition of remaining land parcels, resettlement planning with local constituents, and the bidding process for the new village construction project.
Agreement was reached to acquire the final parcel of land in the new village, and both private parties which had been asserting ownership of the parcel have filed petitions with the Appellate Court to cancel the lawsuit between them. Transfer of title to this parcel can occur once this formal petition process is complete.
Remaining private lands to be acquired in the existing village include eight parcels. The Company is proceeding with expropriation on four land parcels in the Çopler village as an agreement could not be reached with the owners. This land is unoccupied and is not critical to the resettlement timeline or the mine start-up. Three other parcels are owned by a ward of the court, and the swap agreement between the Company and the individual must therefore be ratified by the court. This process is undeerway. The owner of the final parcel was attempting, with the Company's concurrence, to seek an administrative re-characterization of his parcel before entering into an agreement with the Company. It was recently learned that this re-characterization will not be possible. The owner is now proceeding to reach agreement with the Company for acquisition of this parcel. Of these processes, the expropriation has the longest timeline and is expected to be concluded by the fourth quarter of 2010.
The Çopler Village Relocation Action Plan has been initiated with actions planned and meetings scheduled to address unresolved issues with the members of the existing Çopler Village. The Company has completed approximately 90% of the planned meetings. The resettlement issues being addressed include sustainability measures for impacted livelihoods. Bids have been received from several qualified contractors for construction of the new village and adjudication is in progress. Construction and handover of the new village is expected to be complete by the end of 2010.
Anatolia, recognized as a leader in exploration and development in Turkey, is developing Çopler. Çopler is 95% owned by Anatolia and 5% by Çalik Mining (see News Release, August 13, 2009). Initial plans are to produce approximately 1.3 million ounces of gold at a cash cost of about US$260 per ounce. The first gold pour at Çopler is expected in 2010 with full production to average about 175,000 ounces of gold per year after ramp up. Additional production expansion of the oxide and sulfide gold resource is expected at Çopler by taking advantage of the inherent large resource through on-going technical activities. In addition, Anatolia holds a significant pipeline of prospective gold and base metal projects.
Anatolia currently has 138.0 million common shares issued and outstanding, 157.7 million fully diluted. For more information please contact Edward Dowling, President and CEO, or Douglas Tobler, CFO at (303) 292-1299 or visit www.anatoliaminerals.com. Anatolia's common shares are listed for trading on the Toronto Stock Exchange under the symbol "ANO."
Except for statements of historical fact relating to Anatolia, certain statements contained in this news release constitute forward-looking information, future oriented financial information, or financial outlooks (collectively "forward-looking information") within the meaning of Canadian securities laws. Forward-looking information may relate to this news release and other matters identified in Anatolia's public filings, Anatolia's future outlook and anticipated events or results and, in some cases, can be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "projects", "predict", "potential", "targeted", "possible", "continue", "objective" or other similar expressions concerning matters that are not historical facts and include, but are not limited in any manner to, those with respect to commodity prices, mineral resources, mineral reserves, realization of mineral reserves, existence or realization of mineral resource estimates, the timing and amount of future production, the timing of construction of the proposed mine and process facilities, capital and operating expenditures, the timing of receipt of permits, rights and authorizations, communications with local stakeholders and community relations, status of negotiations of joint ventures, availability of financing and any and all other timing, development, operational, financial, economic, legal, regulatory and political factors that may influence future events or conditions. Such forward-looking statements are based on a number of material factors and assumptions, including, but not limited in any manner, those disclosed in any other of Anatolia's public filings, and include the ultimate determination of mineral reserves, availability and final receipt of required approvals, licenses and permits, ability to acquire necessary surface rights, sufficient working capital to develop and operate the proposed mine, access to adequate services and supplies, economic conditions, commodity prices, foreign currency exchange rates, interest rates, access to capital and debt markets and associated cost of funds, availability of a qualified work force, lack of social opposition and legal challenges, and the ultimate ability to mine, process and sell mineral products on economically favorable terms. While Anatolia considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons, including but not limited to risks and uncertainties disclosed in other Anatolia filings at www.sedar.com. Forward-looking statements are based upon management's beliefs, estimate and opinions on the date the statements are made and, other than as required by law, Anatolia does not intend, and undertakes no obligation to update any forward-looking information to reflect, among other things, new information or future events.
SOURCE Alacer Gold Corp.
For further information: For further information: Edward Dowling, President and CEO or Douglas Tobler, CFO at (303) 292-1299 or visit www.anatoliaminerals.com