Alamos Gold Inc (AGI)

[blackcat]

Alamos Gold (AGI +7.1%) shoots higher on news it received a GSM permit required for the development of its Kirazli project in Turkey.

AGI says it has been granted all permits required to ramp up full scale construction activities at Kirazli, with initial production expected in 2020.

AGI says a 2017 feasibility study forecast Kirazli would result in a 44% after-tax internal rate of return and produce 100K-plus oz. of gold during its first full year of production at all-in sustaining costs of less than $400/oz.

The company expects consolidated production at Kirazli to exceed 600K oz./year while significantly lowering its cost profile.

AGI's initial capital estimate for Kirazli is $152M, with $50M-$60M expected to be spent in 2018.