Street Talk

Alacer Gold keeps predator OceanaGold at arm’s length

OceanaGold has attempted to engage with Alacer Gold, with plans to potentially create a new mid-market force and launch a takeover bid for the $560 million company.

Sarah Thompson, Anthony Macdonald and Jake Mitchell

Updated Sep 19, 2014 – 4.09am, first published at 12.09am

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OceanaGold Corp has attempted to engage with Alacer Gold Corp , with plans to potentially create a new mid-market force and launch a takeover bid for the $560 million company.

Street Talk understands OceanaGold approached Alacer earlier this year with a request to sign a confidentiality agreement and begin due diligence. Alacer’s main asset is its 80 per cent-owned Copler goldmine in Turkey, which is forecast to produce 160,000 to 180,000 ounces with all-in costs of between $730 and $780 per ounce in 2014.