Alamos Gold Receives Forestry Permits for Kirazli Project, Turkey
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Alamos Gold Inc. has received the forestry permits required for the development of its Kirazli gold project from the Forestry General Directorate in Turkey.
“Kirazli will be low cost to build and operate. It is our highest return project and will be a significant source of free cash flow in the years ahead. This represents a significant breakthrough for the project,” said John A. McCluskey, president and chief executive officer of Alamos Gold.
With the environmental impact study and forestry permits for Kirazli approved by the federal government, the company is pursuing the GSM (business opening and operation) permit which is granted by the Çanakkale Governorship.
Feasibility studies to update the economics for both Kirazli and Aği Daği, as outlined in the positive 2012 pre-feasibility study, are nearing completion. A preliminary economic assessment is also being conducted on the higher grade Çamyurt project. A number of significant changes including weakness in the Turkish Lira and lower diesel prices since 2012 are expected to positively impact what were already attractive project economics.
About Alamos Gold
Alamos is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America. This includes the Young-Davidson mine in northern Ontario, Canada and the Mulatos and El Chanate mines in Sonora State, Mexico. Additionally, the company has a significant portfolio of development stage projects in Mexico, Turkey, Canada and the United States. Alamos employs more than 1,300 people and is committed to the highest standards of sustainable development.
To stop by Alamos Gold’s website, CLICK HERE
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