TORONTO (miningweekly.com) – Canadian midtier gold miner Alamos Gold on Thursday said it had swung back to a first-quarter profit of $9.7-million, or $0.04 a share, compared with a net loss of $35.3-million, or $0.28 a share, in the same period in 2015.
Gold sales rose to 90 989 oz, up from 89 651 oz, resulting in revenue growth for the period to $104.3-million, up from $64.6-million in the comparable period ended March 31 a year earlier.
During the quarter, the company produced 94 632 oz of gold, up from 92 027 oz, while all-in sustaining costs (AISC) declined to $986/oz of gold, down from $1 093/oz a year earlier.
Output from El Chanate, in Mexico, was up 13% and at Young-Davidson, in Ontario, up 3%, while Mulatos, also in Mexico, reported a 1% decrease in volume produced.
Alamos advised that its full-year guidance was expected to range between 370 000 oz to 400 000 oz of gold, at an AISC of $975/oz. The company also expected to generate positive free cash flow in 2016 at current gold prices.
Edited by: Samantha Herbst
Creamer Media Deputy Editor
EMAIL THIS ARTICLE SAVE THIS ARTICLE
To subscribe email subscriptions@creamermedia.co.za or click here
To advertise email advertising@creamermedia.co.za or click here
