TORONTO, Sept. 15, 2014 /CNW/ - Alacer Gold Corp. ("Alacer" or the "Corporation") [TSX: ASR and ASX: AQG] is pleased to announce that two new independent directors, Anna Kolonchina and Alan Krusi, have been appointed to Alacer's Board of Directors, effective today.
"On behalf of the Board and the Corporation, I'd like to welcome Ms. Kolonchina and Mr. Krusi to Alacer. Anna's wealth of experience in private equity, governance and financial markets, specifically in emerging countries, and Alan's extensive project and risk management experience will add significant value to the proficiency of the existing Board," commented Mr. Edward Dowling, Chairman of Alacer's Board of Directors.
Ms. Kolonchina has a degree in Economics from the Moscow State Financial Academy and has over 15 years of experience in investment banking. Ms. Kolonchina gained considerable experience in global financial markets while working for Deutsche Bank AG for 12 years in both the Moscow and London offices. While at Deutsche Bank, Anna was the Director of the EMEA Debt Capital Markets department within Global Markets. Ms. Kolonchina has also built her knowledge of the international gold mining industry while serving as a non-executive director of OJSC Polyus Gold since 2010 and as a non-executive director of Polyus Gold International, Ltd. since July 2011. At the same time, Ms. Kolonchina also served as a non-executive director on the Uralkali Open Joint Stock Company and PIK Group Open Joint-Stock Company.
Most recently, Ms. Kolonchina has also served as the Executive Managing Director of Nafta Moskva, Private Equity. Previous to that, she served as the Chief Financial Officer and the Vice President of Economy & Finances at PIK Group Open Joint-Stock Company and as Managing Director at Wainbridge Limited.
Mr. Krusi has a degree in Geology from the University of California, Santa Barbara and has over three decades of management experience in the engineering and construction industries. Mr. Krusi began his career as a project geologist with Dames & Moore where he gained significant experience and international exposure as lead project engineer and geologist in multiple countries across Latin America and Asia. Mr. Krusi later served as president of Construction Services when Dames & Moore was acquired by URS, where he supervised four global divisions.
Following URS, Alan was the Chief Executive Officer of Earth Tech, a Tyco owned entity with engineering and construction operations in 14 countries around the world (including Turkey, Asia, Europe and the Western Hemisphere). Most recently, Mr Krusi was President, Strategic Development at AECOM (NYSE: ACM), where he participated as a member of the executive committee and oversaw the firm's M&A activities. Currently, Mr. Krusi is a board member at Blue Earth Inc. (NASDAQ: BBLU), and Comfort Systems USA, Inc. (NYSE: FIX)
Alacer Gold Corp. is a leading intermediate gold mining company and its world-class operation is the 80% owned Çöpler Gold Mine in Turkey. During 2014, Çöpler is forecast to produce 160,000 to 180,000 attributable1 ounces at All-in Costs2 of $730 to $780 per ounce. Çöpler's oxide ore is currently being processed in a conventional crush, agglomeration, heap-leach and gold recovery circuit.
The June 2014 Sulfide Definitive Feasibility Study demonstrated robust financial returns from processing sulfide ore and extended Çöpler's mine life to 20 years. Subject to Board approval to construct the sulfide project, from July 2014, Çöpler is forecast to produce a further 3.2 million ounces of gold at low All-in Costs2 averaging $810 per ounce over the life of the mine.
Alacer has numerous high-potential exploration projects in Turkey in various joint ventures with our Turkish partner Lidya Mining.
Alacer's primary focus is to maximize portfolio value, maximize free cash flow, minimize project risk, and create value for shareholders.
1 Attributable gold production is reduced by the 20% non-controlling interest at the Çöpler Gold Mine.
2 All-in Costs/ounce is a non-IFRS financial performance measure with no standardized definition under IFRS. For further information and detailed reconciliation, see the "Non-IFRS Measures" section of the MD&A for June 30, 2014.
SOURCE: Alacer Gold Corp.
For further information: on Alacer Gold Corp., please contact: Lisa Maestas - Director of Investor Relations - North America at 1-303-292-1299; Roger Howe - Director of Investor Relations - Australia at 61-2-9953-2470