June 13, 2019 / 3:39 PM / 6 months ago

BUZZ-Alacer Gold shines on increased oxide production outlook

** Gold miner’s shares jumps 12.1% to C$4.1

** Co raises 2019 oxide production forecast to 125,000 - 145,000 ounces from 90,000 - 110,000 ounces citing the facility’s strong performance

** Guidance raise due to stacking ore from the ongoing in-pit exploration success

** Co also declares commercial production at Copler sulphide plant in Turkey

** “We continue to tune and optimize the plant and expect quarter-on-quarter improvements over the remainder of 2019” - CEO

** 5 of 8 brokerages rate the stock “buy”, 2 “hold” and 1 “sell”; their median PT is C$4.55

** Stock up 65.5% YTD (Reporting By Arundhati Sarkar in Bengaluru)

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