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Alacer Gold Corp Announces Closing Of Frog's Leg Sale

Sunday, 7 Apr 2013 07:34pm EDT 

Alacer Gold Corp announced that the sale of Alacer's 49% minority interest in the Frog’s Leg Mine joint venture to La Mancha Resources Australia Pty Limited (La Mancha) has closed. Under the terms of the sale agreement, Alacer has received sale proceeds of approximately AUD138.5 million (or approximately USD144 million based on the exchange rate of April 4, 2013). The sale proceeds of AUD138.5 million includes AUD2.56 million of interest accrued on the purchase price from January 1, 2013 to April 4, 2013. In addition to this, La Mancha will pay Alacer the balance of the deferred consideration. Alacer will provide toll milling services to process the ore from the Frog’s Leg mine at its Jubilee facility located at its South Kalgoorlie Operations for approximately 18 months from January 1, 2013. This term supersedes the interim 12 month toll-treatment agreement. 

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19 Sep 2014