Alacer Gold swings to H1 profit

Gold miner warns on continued volatility in prices, revenue falls slightly.

Alacer Gold (AQG) has swung to a first-half net profit but warned on continued volatility in the gold price, saying any further falls may hit its cash flow and jeopardise planned exploration. 

Net profit attributable to owners of the corporation for the six months to June 30 was $US18.8 million, compared with a net loss of $US429.6m in the previous corresponding period.

But revenue slipped to $US135.5m in the half, from $180.2m a year earlier. 

The gold miner noted that it is on track to meet full-year guidance of 160,000 to 180,000 attributable ounces at all-in costs of $US730 to $US780 per ounce.