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New Gold Eliminates Management Positions

Kitco News

New Gold Inc. (TSX, NYSE American: NGD) has reorganized and trimmed its management to reflect a smaller asset base after the sale of the Mesquite and Peak mines, the company reports. The company still has the Rainy River and New Afton mines and the Blackwater project. Five vice president positions were eliminated, including those for treasurer and technology, planning and advisory, projects, reporting and tax, and exploration. However, the company says it will appoint a vice president for technical services. “Today’s announcement marks another step forward in our strategy to reposition New Gold for the future. It was a difficult, but necessary decision to readjust the size of the corporate team to reflect our new reality,” says Renaud Adams, president and chief executive officer.

By Allen Sykora of Kitco News;


Alacer Releases Maiden Resource Estimate For Ardich Deposit

Monday December 10, 2018 08:58

Alacer Gold Corp. (TSX: ASR; ASX: AQG) is describing the Ardich oxide gold deposit as “highly prospective” after releasing a maiden estimate for mineral resources. The deposit is located approximately six kilometers northeast of the Çöpler Gold Mine in Turkey. The findings include a measured and indicated mineral resource of 294,000 ounces of gold at an average grade of 1.32 grams per tonne, plus an inferred mineral resource estimate of 85,000 ounces at an average grade of 1.20 g/t. The estimates are based on the first 55 diamond core drill holes and do not include drill assays received after Oct. 1. An additional 42 diamond holes have been drilled since the cut-off date. “The Ardich mineral resource continues to demonstrate the oxide ore prospectivity from the Çöpler District,” says Rod Antal, president and chief executive officer “In parallel to continuing to define and grow Ardich, we will advance the environmental, permitting and processing options to ensure pathways for low-cost, near-term development of Ardich are achievable." A feasibility study will be completed in 2019 for an expansion of the Çöpler heap leach pad, the company says.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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