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UPDATE: Alamos Gold Down 3% Despite Meeting Gold Production Guidance in Q4, Provides 2013 Production Forecast

By: MT Newswires
Posted: 1/8/2013 9:59:00 AM
Referenced Stocks:

Alamos Gold Inc. (AGI.TO) today reported record fourth quarter, achieving its production guidance for the year of 200,000 ounces of gold. The company also provided guidance on 2013 production and operating, development and exploration budgets.

In the fourth quarter of 2012, the Mulatos Mine produced a "record" 67,800 ounces of gold, 41% higher than the previous quarterly production record of 48,200 ounces.

The company anticipates producing between 180,000 and 200,000 ounces of gold in 2013 at a cash operating cost of $415 to $435 per ounce of gold sold, excluding a 5% royalty.

Exploration spending in Mexico in 2013 is expected to be $10.6 million, of which approximately 65% will be expensed. The 2013 Mulatos capital and development budget is $40.7 million.

AGI has fallen to $16.70 by nearly 3%, with volumes of over 159,000.