Alamos produces record 505,000oz gold Alamos Gold has reported record 2018 production of 505,000 ounces of gold, an 18% increase over the 429,400oz produced in 2017, following strong performance from its Mulatos operation in Mexico and Island Gold operation in Canada. Alamos obtained Island Gold in November 2017 through its acquisition of Richmont Mines.
Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) today reported fourth quarter and annual 2018 production. The Company also provided 2019 production and operating guidance.
“Alamos produced a record 505,000 ounces of gold in 2018, meeting production guidance and marking an 18% increase from 2017. This was driven by strong performances from Mulatos and Island Gold, the latter setting a new record for production and continuing to demonstrate strong potential for growth in mineral reserves and resources,” said John A. McCluskey, President and Chief Executive Officer.
“We expect a similar rate of production in 2019 with lower costs driving stronger margins. Lower costs are expected to result from improvements at Young-Davidson and low-cost production growth at Island Gold. Looking forward to the second half of 2020, we expect Alamos to transition from reinvesting in growth to generating strong free cash flow. With long-life production from our existing operations at declining costs, a leading portfolio of high return growth projects, and a strong, debt-free balance sheet, Alamos is well positioned to deliver on this growth,” Mr. McCluskey added.
ALAMOS GOLD REPORTS ADDITIONAL HIGH-GRADE INTERCEPTS AT ISLAND GOLD INCLUDING BEST SURFACE DIRECTIONAL INTERSECTION TO DATE WITHIN WESTERN EXTENSION 01/10/2019 Download this Press Release (PDF 5.75 MB) TORONTO, Jan. 10, 2019 (GLOBE NEWSWIRE) --
Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) today reported new results from surface and underground exploration drilling at the Island Gold Mine. Drilling throughout 2018, including new intercepts from the fourth quarter, continues to extend high-grade gold mineralization across each of the Main, Western and Eastern Extensions. All reported drill widths are true width of the mineralized zones, unless otherwise state