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Wednesday, January 16, 2019 1:13:03 PM
Northern Miner Staff | about an hour ago |
![](http://www.mining.com/wp-content/uploads/2019/01/36031760985_3b801486fb.v1.jpg)
Young-Davidson (Image from Alamos Gold)
Alamos Gold (TSX: AGI; NYSE: AGI) produced 505,000 ounces of gold
from its four mines in North America last year and expects a
“similar rate of production” this year.
The company anticipates production of between 480,000 and 520,000 ounces
of gold in 2019 at total cash costs of between US$710 and
US$750 per oz., down 10% from its revised 2018 guidance of
US$810 per oz., and all-in sustaining costs of between
US$920 and US$960 per oz., down 5% from revised 2018 guidance of
US$990 per oz. (Total cash costs and AISCs for 2018 have not been
finalized yet.)
The gold miner has penciled-in a 2019 capital budget of
US$290 to US$315 million, reflecting the construction of
two new mines in Turkey (Kirazli) and Mexico (Cerro Pelon), and
a global exploration budget of US$33 million,
including US$19 million budgeted for its Island Gold mine.
Alamos Gold was debt-free at the end of last year and had about
US$206 million in cash.
The intermediate gold producer has two operating mines in Canada
(Young-Davidson and Island Gold in northern Ontario), and
two mines in Mexico (Mulatos and El Chanate, both in Sonora state).
At presstime in Toronto Alamos Gold was trading at $5.41 per share.
Macquarie Research has trimmed its target price on the company
from C$10 to C$9.25 per share following its 2019 guidance and
Investor Day. Haywood Securities has lowered its
target price from C$10 to C$9.00 per share.
Laurentian Bank Securities’ price target of C$9.00 per share and
BMO Capital Markets’ target of C$10.00 per share remain unchanged.
This story first appeared on The Northern Miner.
Recent AGI News
- Alamos Gold Provides Notice of Second Quarter 2024 Results and Conference Call • GlobeNewswire Inc. • 07/02/2024 09:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 06/07/2024 03:38:45 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/31/2024 01:40:06 PM
- Alamos Gold Declares Quarterly Dividend • GlobeNewswire Inc. • 05/30/2024 10:55:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/28/2024 07:54:28 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/28/2024 01:47:40 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/24/2024 07:43:57 PM
- Alamos Gold Announces Results of the Annual General and Special Meeting of Shareholders • GlobeNewswire Inc. • 05/24/2024 06:30:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 05/14/2024 05:04:01 PM
- Alamos Gold Intersects Higher-Grade Mineralization within a New Zone Near Existing Infrastructure at Young-Davidson • GlobeNewswire Inc. • 05/14/2024 10:30:00 AM
- Alamos Gold Reports First Quarter 2024 Results • GlobeNewswire Inc. • 04/24/2024 09:00:00 PM
- GFG Closes Private Placement Financing • GlobeNewswire Inc. • 04/19/2024 09:06:41 PM
- Alamos and Argonaut Close Previously Announced Private Placement • GlobeNewswire Inc. • 04/04/2024 04:30:00 PM
- ORFORD COMPLETES ARRANGEMENT WITH ALAMOS • PR Newswire (Canada) • 04/03/2024 06:45:00 PM
- Alamos Gold Announces Closing of Orford Mining Acquisition • GlobeNewswire Inc. • 04/03/2024 04:05:00 PM
- Alamos Gold Provides Notice of First Quarter 2024 Results and Conference Call, and Annual General and Special Meeting of Shareholders • GlobeNewswire Inc. • 04/03/2024 10:40:00 AM
- ORFORD SHAREHOLDERS APPROVE PLAN OF ARRANGEMENT • PR Newswire (Canada) • 03/27/2024 03:43:00 PM
- Alamos Gold Announces Friendly Acquisition of Argonaut Gold • PR Newswire (Canada) • 03/27/2024 11:32:00 AM
- Alamos Gold Announces Friendly Acquisition of Argonaut Gold • GlobeNewswire Inc. • 03/27/2024 11:30:29 AM
- Alamos Gold Provides Notice of Completion of Annual Filings • GlobeNewswire Inc. • 03/26/2024 07:00:00 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 03/06/2024 08:14:21 PM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/28/2024 03:39:45 PM
- Alamos Gold Declares Quarterly Dividend • GlobeNewswire Inc. • 02/28/2024 11:55:00 AM
- GFG Announces Private Placement Financing of up to C$3.3 Million • GlobeNewswire Inc. • 02/23/2024 11:00:00 AM
- Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16] • Edgar (US Regulatory) • 02/22/2024 08:11:48 PM
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