Alamos Gold Lists Record Quarterly, Annual Production
Alamos Gold Inc. (TSX: AGI; NYSE: AGI) lists record gold output for the fourth quarter and 2017. Alamos produced 120,300 ounces in the fourth quarter, including a record 56,500 ounces from the Young-Davidson Mine. Consolidated quarterly output was up from 105,676 ounces in the same period a year ago, while full-year output was up 10%. “With record fourth-quarter gold production, Alamos achieved a new annual record, producing 429,400 ounces of gold, while delivering a significant reduction in operating costs and capital spending. This translated into strong free cash flow growth from our operations,” says John A. McCluskey, president and chief executive officer. This includes approximately one month of production from the Island Gold Mine following completion of the acquisition. Excluding Island Gold, the company produced 420,400 ounces, above the mid-point of guidance. “We significantly improved our outlook over the past year,” McCluskey says. Production guidance for 2018 was put at 480,000 to 520,000 ounces of gold, a 16% increase over 2017 (based on the mid-point of guidance), reflecting the inclusion of Island Gold. All-in sustaining costs are seen creeping up slightly to $950 an ounce.