Alacer Gold Corp. reported audited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the year, the company reported total cash flow from operations of $37 million against $107.9 million last year. Net profit attributable to owners was $6.2 million or $0.02 per basic and diluted share against $46.6 million or $0.16 per basic and diluted share last year. Total capital expenditures were $147.1 million. Gold sales were $142 million against $237.3 million last year. Attributable net profit reflects a $71.2 million decrease in mining gross profit, offset by a $17.0 million benefit in net income tax.

For the quarter, total capital expenditures were $49.0 million. Gold sales were $38.4 million against $1.1 million last year. Net loss attributable to owners was $8.2 million or $0.03 per basic and diluted share against net profit attributable to owners of $10.0 million or $0.03 per basic and diluted share last year. Total cash flow from operations was $9.2 million against $27.1 million last year. Attributable net loss reflects a $6.5 million decrease in mining gross profit and a $26.3 million increase in net income tax expense. Gold sales reflects a 30% decrease in ounces sold, partly offset by an average realized price of $1,191 per ounce which was 8% higher than in 2015. Total revenue was $38.4 million against $51.1 million last year.

For the year, the company reported gold production of 119,036 ounces declined 42% as compared to 2015. The decrease is due to oxide ore tonnes mined decreasing 25% and oxide ore grade declining 8% as compared to 2015. Attributable gold production of 95,229 ounces was within revised guidance.

For the quarter, the company reported gold production of 33,861 ounces declined by 27% as compared to fourth quarter of 2015.

The corporation expects to produce between 160,000 gold ounces and 180,000 gold ounces for the year of 2017. Gold produced attributable is expected to be between 128,000 ounces to 144,000 ounces.