Alamos Gold Inc. (TSX: AGI) shared on Monday its production results for Q4 and full-year 2021. The mining firm was able to produce 457,200 gold ounces for the year, meeting its revised 2021 production guidance of 455,000 – 495,000 ounces.
The company lowered its full-year guidance in October 2021 from 470,000 – 510,000 gold ounces to account for the reduced guidance from its Mulatos property.
“[The 2021 production results] was driven by strong performances through the year from both Young-Davidson and Island Gold,” said CEO John A. McCluskey. “This offset a challenging year at Mulatos as we work through a transitional phase with higher costs until La Yaqui Grande comes online in the second half of 2022.”
The firm also notched gold sales of $824 million for 2021 from selling 457,517 ounces at an average price of US$1,800 per ounce.
The gold company also released its production and operating guidance for the next three years, highlighted by a “stable production in 2022 with 4% growth expected in 2023.” The increase would be mainly due to an expected uptake in the Mulatos district from a full year of production at La Yaqui Grande.
| 2022 | 2023 | 2024 | |
| Gold production (ounces) | 440,000 – 480,000 | 460,000 – 500,000 | 460,000 – 500,000 |
| All-in sustaining costs (per ounce) | $1,190 – 1,240 | $1,075 – 1,175 | $950 – 1,050 |
| Capital expenditures | $290 – 330 million | $220 – 260 million | $230 – 270 million |
Alamos Gold last traded at $8.89 on the TSX.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
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