Alacer Gold hoping to sell Australian assets; shares jump

Thu Jun 13, 2013 10:24am EDT
 
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June 13 (Reuters) - Shares of Alacer Gold Corp rose nearly 9 percent on Thursday after the mid-tier gold miner said it was looking to sell its Australian assets and focus on mining and exploring in Turkey.

The company said late on Wednesday that it had "confidential, nonbinding expressions of interest from several parties" interested in the Australian properties.

Alacer's Higginsville operation in Western Australia produced 136,687 ounces of gold in 2012, and nearby South Kalgoorlie produced 40,406 ounces.

After gold prices plunged sharply in April, the company said it would review its operations on an all-in cost basis to focus on quality ounces and maximizing its high-margin production.

Alacer's shares were up 8.7 percent at $2.51 in early trading on the Toronto Stock Exchange. (Reporting by Allison Martell; Editing by Lisa Von Ahn)