Alamos Gold Meets 2021 Production Guidance With 457,200 Ounces

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.

Gold production (ounces)440,000 – 480,000460,000 – 500,000460,000 – 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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