Turkish Gold Mine Makes Alacer an Appealing Acquisition

Bloomberg reported that increasing costs and falling ore quality at Alacer Gold Corp.’s (TSX:ASR,ASX:AQG) Australia-based mines, coupled with expansion potential at the company’s gold mine in Turkey, make Alacer a good M&A target.

As quoted in the market news:

“Certainly it could make a good M&A target,” Cathy Moises, a Melbourne-based analyst at Evans & Partners, said in a phone interview. “The Turkey project would make a world-class asset.”

“The Turkish asset could comfortably sit inside a much larger company,” Troy Irvin, an analyst at Argonaut Securities Pty, said in a phone interview from Perth. “It’s a top-quality asset.”

The Copler mine has a net asset value of C$1.96 billion, according to Paolo Lostritto, an analyst at National Bank of Canada (NA) in Toronto.

Click here to read the full Bloomberg report.