Alacer Gold Corp

ASR-T

Analysis and Opinions about ASR-T

Signal
Opinion
Expert
PARTIAL SELL
PARTIAL SELL
October 23, 2019
The 3rd largest holding in his portfolio. They have seen the mines in Turkey and were impressed. The area is a danger zone with recent fighting and the stock has taken a hit. The mine is far enough away from the fighting so he thinks it will not be impacted. He paid just over $2 per share and is considering a partial sell here. His target is near $6.50.
Alacer Gold Corp (ASR-T)
October 23, 2019
The 3rd largest holding in his portfolio. They have seen the mines in Turkey and were impressed. The area is a danger zone with recent fighting and the stock has taken a hit. The mine is far enough away from the fighting so he thinks it will not be impacted. He paid just over $2 per share and is considering a partial sell here. His target is near $6.50.
Benj Gallander
President, Contra the Heard Investment Letter
Price
$5.200
Owned
Yes
PAST TOP PICK
PAST TOP PICK
August 16, 2019
(A Top Pick Aug 02/18, Up 116%) Has been a great play. Has mines in Turkey. Had zero debt and was developing its mines. There is political risk, but the mine is located far enough from the action. Has come online under budget and on time. Could go up more, and could hit the double digits.
Alacer Gold Corp (ASR-T)
August 16, 2019
(A Top Pick Aug 02/18, Up 116%) Has been a great play. Has mines in Turkey. Had zero debt and was developing its mines. There is political risk, but the mine is located far enough from the action. Has come online under budget and on time. Could go up more, and could hit the double digits.
Benj Gallander
President, Contra the Heard Investment Letter
Price
$5.700
Owned
Yes
PAST TOP PICK
PAST TOP PICK
October 22, 2018

(A Top Pick Nov. 3/17, Up 11%) They came in on time and under budget with the expansion. It has a lot of potential. They have debt that they had to take on to expand.

Alacer Gold Corp (ASR-T)
October 22, 2018

(A Top Pick Nov. 3/17, Up 11%) They came in on time and under budget with the expansion. It has a lot of potential. They have debt that they had to take on to expand.

Benj Gallander
President, Contra the Heard Investment Letter
Price
$2.220
Owned
Yes
TOP PICK
TOP PICK
August 2, 2018

They have been doing a major expansion in their mine in Turkey. They are on time and under budget. They took on debt but still have cash. Management knows what they are doing. They could have a very fat bottom line. He sees a $6 target. (Analysts’ target: $3.43).

They have been doing a major expansion in their mine in Turkey. They are on time and under budget. They took on debt but still have cash. Management knows what they are doing. They could have a very fat bottom line. He sees a $6 target. (Analysts’ target: $3.43).

Benj Gallander
President, Contra the Heard Investment Letter
Price
$2.640
Owned
Yes
BUY
BUY
March 6, 2018

They are hitting their targets. When he bought them, they had no debts but they have taken on some to expand. They are bringing on their expansion under budget. There is concern about political risk but the mine is far from the danger zone. Once they get the mine running, they expect to pay down their debt. They also hope to give a dividend, though he thinks that will take a while. His sell target is $6.

They are hitting their targets. When he bought them, they had no debts but they have taken on some to expand. They are bringing on their expansion under budget. There is concern about political risk but the mine is far from the danger zone. Once they get the mine running, they expect to pay down their debt. They also hope to give a dividend, though he thinks that will take a while. His sell target is $6.

Benj Gallander
President, Contra the Heard Investment Letter
Price
$2.150
Owned
Yes
DON'T BUY
DON'T BUY
March 5, 2018

100k oz producer in Turkey. Their mine is starting to wind down and they are they are entering their next phase of growth. They will be moving to 200k oz of production. These types of projects take years to ramp up. There won’t be a lot of cash flow for a year or two. They used debt.

100k oz producer in Turkey. Their mine is starting to wind down and they are they are entering their next phase of growth. They will be moving to 200k oz of production. These types of projects take years to ramp up. There won’t be a lot of cash flow for a year or two. They used debt.

Jon Case
Portfolio Manager, Sentry Investments
Price
$2.130
Owned
No
BUY
BUY
February 27, 2018

It is in his portfolio with a target price of 6 and change. He expects to meet with management in a week. They keep reporting in terms of the amount of gold they have in the ground--it keeps increasing. Management generally completes developments of their deposits on time and within budget. His concern is that they have taken on significant debt. Once they ramp up, he thinks the price should ramp up. He thinks this is the best gold company on his list.

Alacer Gold Corp (ASR-T)
February 27, 2018

It is in his portfolio with a target price of 6 and change. He expects to meet with management in a week. They keep reporting in terms of the amount of gold they have in the ground--it keeps increasing. Management generally completes developments of their deposits on time and within budget. His concern is that they have taken on significant debt. Once they ramp up, he thinks the price should ramp up. He thinks this is the best gold company on his list.

Benj Gallander
President, Contra the Heard Investment Letter
Price
$2.140
Owned
Yes
TOP PICK
TOP PICK
November 3, 2017

Has 2 major knocks against it. Based in Turkey and has about $120 million in debt. They’re expanding their copper play and making money. The balance sheet is going to get murkier, but they are coming in on a mine expansion, on time and under budget. Feels it could triple from here. (Analysts' price target is $3.15.)

Alacer Gold Corp (ASR-T)
November 3, 2017

Has 2 major knocks against it. Based in Turkey and has about $120 million in debt. They’re expanding their copper play and making money. The balance sheet is going to get murkier, but they are coming in on a mine expansion, on time and under budget. Feels it could triple from here. (Analysts' price target is $3.15.)

Benj Gallander
President, Contra the Heard Investment Letter
Price
$2.020
Owned
Yes
PAST TOP PICK
PAST TOP PICK
June 8, 2017

(Top Pick Jan 20/16, Up 2%) There is geopolitical risk. They have now gone into a credit line. Management has managed to do the project on time and on-budget. It should add 20 years of mine life to the company when it is completed. He thinks it has a lot of upside.

(Top Pick Jan 20/16, Up 2%) There is geopolitical risk. They have now gone into a credit line. Management has managed to do the project on time and on-budget. It should add 20 years of mine life to the company when it is completed. He thinks it has a lot of upside.

Benj Gallander
President, Contra the Heard Investment Letter
Price
$2.130
Owned
Yes
PAST TOP PICK
PAST TOP PICK
April 3, 2017

(Top Pick Jan 20/16, Up 32%) Based in Turkey. He bought it when they had no debt and now they have $350 Million in debt. They are expanding and managed to hit their targets. The expansion could give them 20 years more of life. Gold has been relatively stable recently.

(Top Pick Jan 20/16, Up 32%) Based in Turkey. He bought it when they had no debt and now they have $350 Million in debt. They are expanding and managed to hit their targets. The expansion could give them 20 years more of life. Gold has been relatively stable recently.

Benj Gallander
President, Contra the Heard Investment Letter
Price
$2.720
Owned
Yes
PAST TOP PICK
PAST TOP PICK
February 7, 2017

(A Top Pick Dec 1/15. Up 13.62%.) Just reported earnings and revenues were down 42%, but they are expanding their copper play in Turkey. They have about $215 million and about $320 million lined up. Thinks it is a good play and will go up over $6. This company is really good at hitting targets.

Alacer Gold Corp (ASR-T)
February 7, 2017

(A Top Pick Dec 1/15. Up 13.62%.) Just reported earnings and revenues were down 42%, but they are expanding their copper play in Turkey. They have about $215 million and about $320 million lined up. Thinks it is a good play and will go up over $6. This company is really good at hitting targets.

Benj Gallander
President, Contra the Heard Investment Letter
Price
$2.950
Owned
Yes
TOP PICK
TOP PICK
August 5, 2016

Gold. One of the big dangers about this company is that it is in Turkey. He doesn’t think that is going to impact them because it is not where the fighting is going on. They have US$311 million in the till. Have done a financing for $350 million, so are looking to expand their project. Made about $12 million last quarter. Good management. He could see this doubling.

Gold. One of the big dangers about this company is that it is in Turkey. He doesn’t think that is going to impact them because it is not where the fighting is going on. They have US$311 million in the till. Have done a financing for $350 million, so are looking to expand their project. Made about $12 million last quarter. Good management. He could see this doubling.

Benj Gallander
President, Contra the Heard Investment Letter
Price
$3.280
Owned
Yes
SELL
SELL
July 26, 2016

(Market Call Minute.)

(Market Call Minute.)

Jon Case
Portfolio Manager, Sentry Investments
Price
$3.170
Owned
Unknown
COMMENT
COMMENT
June 28, 2016

They have the financing in place for their copper deposits in Turkey. They are now producing gold. Management has really been doing what they said they would do. He sees how this could go up a long way from here. He likes the company.

They have the financing in place for their copper deposits in Turkey. They are now producing gold. Management has really been doing what they said they would do. He sees how this could go up a long way from here. He likes the company.

Benj Gallander
President, Contra the Heard Investment Letter
Price
$2.970
Owned
Yes
PAST TOP PICK
PAST TOP PICK
March 1, 2016

(A Top Pick March 26/15. Up 0.75%.) Their one and only mine is located in Turkey. A lot of people question about investing in Turkey. The company has about US$360 million in the bank, with no debt. Have a line of credit for US$250 million, because they want to expand their play in Turkey to extend the mine life. Doesn’t like that the balance sheet is going to get messy to some degree, but management has been good at hitting targets. His initial Sell target is $6.84 and he still likes it. Still a Buy.

(A Top Pick March 26/15. Up 0.75%.) Their one and only mine is located in Turkey. A lot of people question about investing in Turkey. The company has about US$360 million in the bank, with no debt. Have a line of credit for US$250 million, because they want to expand their play in Turkey to extend the mine life. Doesn’t like that the balance sheet is going to get messy to some degree, but management has been good at hitting targets. His initial Sell target is $6.84 and he still likes it. Still a Buy.

Benj Gallander
President, Contra the Heard Investment Letter
Price
$2.690
Owned
Yes
TOP PICK
TOP PICK
January 20, 2016

Located in Turkey is one of the major dangers, because of their elections and that they are not getting along with Russia. Thinks the US$ is high, so when that comes down the gold price should go up. The company has zero debt and they make money. Thelr “all in” sustaining costs is $600+. Have about $650 million they can draw on to expand, but that adds a lot of risk to the company. His initial sell target is $6 and change.

Alacer Gold Corp (ASR-T)
January 20, 2016

Located in Turkey is one of the major dangers, because of their elections and that they are not getting along with Russia. Thinks the US$ is high, so when that comes down the gold price should go up. The company has zero debt and they make money. Thelr “all in” sustaining costs is $600+. Have about $650 million they can draw on to expand, but that adds a lot of risk to the company. His initial sell target is $6 and change.

Benj Gallander
President, Contra the Heard Investment Letter
Price
$2.100
Owned
Yes
TOP PICK
TOP PICK
December 1, 2015

Have some hits against them including the price of gold, the US$, and it is located in Turkey. Have about $385 million in the bank. Had no debt, but have taken some on so that they can expand their copper play in Turkey. Their “all in” cost is less than $700, so they are profitable. The big thing now is that they have to bring this play on and expand it effectively, and that is going to take a few years, and probably about $650 million in total, which is why they have the debt lined up. He can see this doing a triple from here.

Alacer Gold Corp (ASR-T)
December 1, 2015

Have some hits against them including the price of gold, the US$, and it is located in Turkey. Have about $385 million in the bank. Had no debt, but have taken some on so that they can expand their copper play in Turkey. Their “all in” cost is less than $700, so they are profitable. The big thing now is that they have to bring this play on and expand it effectively, and that is going to take a few years, and probably about $650 million in total, which is why they have the debt lined up. He can see this doing a triple from here.

Benj Gallander
President, Contra the Heard Investment Letter
Price
$2.570
Owned
Yes
TOP PICK
TOP PICK
March 26, 2015

Lots of money and no debt and they are expanding their copper deposit. Companies have been looking at them and they could get possibly taken over at some point.

Lots of money and no debt and they are expanding their copper deposit. Companies have been looking at them and they could get possibly taken over at some point.

Benj Gallander
President, Contra the Heard Investment Letter
Price
$2.680
Owned
Yes
BUY
BUY
February 3, 2015

Loves this company. They have US$340 million in the bank and have no debt. There is a little bit of danger because they only have the one mine in Turkey. They are changing things there. They are producing at the mine and they have revenues. They are looking to extend the life of the mine. He can see this going up to $6-$8. Hypothetically, this could have been a Top Pick for the show.

Alacer Gold Corp (ASR-T)
February 3, 2015

Loves this company. They have US$340 million in the bank and have no debt. There is a little bit of danger because they only have the one mine in Turkey. They are changing things there. They are producing at the mine and they have revenues. They are looking to extend the life of the mine. He can see this going up to $6-$8. Hypothetically, this could have been a Top Pick for the show.

Benj Gallander
President, Contra the Heard Investment Letter
Price
$2.760
Owned
Yes
DON'T BUY
DON'T BUY
February 3, 2014

One of the better cost profiles, $700/oz. The mine life is somewhat short (3-4 years) and then the mine tappers off. They have to develop a second asset that requires a lot of capital and infrastructure. It will consume all of their cash flow. There are better places to go.

Alacer Gold Corp (ASR-T)
February 3, 2014

One of the better cost profiles, $700/oz. The mine life is somewhat short (3-4 years) and then the mine tappers off. They have to develop a second asset that requires a lot of capital and infrastructure. It will consume all of their cash flow. There are better places to go.

Jon Case
Portfolio Manager, Sentry Investments
Price
$2.310
Owned
No
PAST TOP PICK
PAST TOP PICK
September 29, 2010
(A Top Pick Oct 16/09. Up 184.84%.)
Alacer Gold Corp (ASR-T)
September 29, 2010
(A Top Pick Oct 16/09. Up 184.84%.)
Charles Oliver, HBSc CFA
Senior Portfolio Manager, Sprott Asset Management Inc.
Price
$6.910
Owned
Yes
TOP PICK
TOP PICK
April 9, 2010
Gold producer in Turkey and the mine is in ramp-up mode now. Easy to mine oxide deposit. Drilling some higher grades deeper down in the sulphide, which provides great upside. Trading below NAV.
Gold producer in Turkey and the mine is in ramp-up mode now. Easy to mine oxide deposit. Drilling some higher grades deeper down in the sulphide, which provides great upside. Trading below NAV.
Robert Lyon
Senior. Vice President & Portfolio Manager, AGF Funds Inc.
Price
$4.620
Owned
Yes
TOP PICK
TOP PICK
October 16, 2009
Hasn't participated with gold but actually came off. Selling up to 20% of their Copler gold mine. Market wasn't happy and they have been over penalized. Will be in production in 2011/2012 and in 2012 they should be trading at 5X PE.
Alacer Gold Corp (ASR-T)
October 16, 2009
Hasn't participated with gold but actually came off. Selling up to 20% of their Copler gold mine. Market wasn't happy and they have been over penalized. Will be in production in 2011/2012 and in 2012 they should be trading at 5X PE.
Charles Oliver, HBSc CFA
Senior Portfolio Manager, Sprott Asset Management Inc.
Price
$2.440
Owned
Yes
PAST TOP PICK
PAST TOP PICK
February 27, 2004
(A top pick Jan 23/04. Up 4.2%.) Some major companies have been buying into part of their holdings in Turkey. Their exploration upside is excellent.
Alacer Gold Corp (ASR-T)
February 27, 2004
(A top pick Jan 23/04. Up 4.2%.) Some major companies have been buying into part of their holdings in Turkey. Their exploration upside is excellent.
Robert Cohen B.A.Sc., MBA, CFA
Vice President & Portfolio Manager, Dynamic Funds
Price
$1.700
Owned
Yes
TOP PICK
TOP PICK
February 2, 2004
Next year will be about exploration. Could be in production in middle of 2006. Undervalued.
Alacer Gold Corp (ASR-T)
February 2, 2004
Next year will be about exploration. Could be in production in middle of 2006. Undervalued.
Robert Cohen B.A.Sc., MBA, CFA
Vice President & Portfolio Manager, Dynamic Funds
Price
$1.650
Owned
Unknown
TOP PICK
TOP PICK
January 23, 2004
Have purchased Rio Tinto’s right of 65% of their Turkish property. Kinross is also interested. 4.2 million ounces of referred resources. Speculative. Very undervalued.
Alacer Gold Corp (ASR-T)
January 23, 2004
Have purchased Rio Tinto’s right of 65% of their Turkish property. Kinross is also interested. 4.2 million ounces of referred resources. Speculative. Very undervalued.
Robert Cohen B.A.Sc., MBA, CFA
Vice President & Portfolio Manager, Dynamic Funds
Price
$1.650
Owned
Yes
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