Alamos Gold\u00a0(TSX: AGI; NYSE: AGI) produced 505,000 ounces of gold from its four mines in North America last year and expects a \u201csimilar rate of production\u201d this year.<\/p>\n
The company anticipates production of between 480,000 and 520,000 ounces of gold in 2019 at total cash costs of between US$710 and US$750 per oz., down 10% from its revised 2018 guidance of US$810 per oz., and all-in sustaining costs of between US$920 and US$960 per oz., down 5% from revised 2018 guidance of US$990 per oz. (Total cash costs and AISCs for 2018 have not been finalized yet.)<\/p>\n
The gold miner has penciled-in a 2019 capital budget of US$290 to US$315 million, reflecting the construction of two new mines in Turkey (Kirazli) and Mexico (Cerro Pelon), and a global exploration budget of US$33 million, including US$19 million budgeted for its Island Gold mine.<\/p>\n
Alamos Gold was debt-free at the end of last year and had about US$206 million in cash.<\/p>\n
The intermediate gold producer has two operating mines in Canada (Young-Davidson and Island Gold in northern Ontario), and two mines in Mexico (Mulatos and El Chanate, both in Sonora state).<\/p>\n
At presstime in Toronto Alamos Gold was trading at $5.41 per share.<\/p>\n
Macquarie Research has trimmed its target price on the company from C$10 to C$9.25 per share following its 2019 guidance and Investor Day. Haywood Securities has lowered its target price from C$10 to C$9.00 per share.<\/p>\n
Laurentian Bank Securities\u2019 price target of C$9.00 per share and BMO Capital Markets\u2019 target of C$10.00 per share remain unchanged.<\/p>\n
This story first appeared on The Northern Miner.<\/a><\/em><\/p>\n The post Alamos Gold forecasts 2019 gold production<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" Alamos Gold produced 505,000 ounces of gold from its four mines in North America last year and expects a “similar rate of production” this year.<\/p>\n The post Alamos Gold forecasts 2019 gold production<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[990,404,369],"tags":[25,48,76],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1094613"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1094613"}],"version-history":[{"count":1,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1094613\/revisions"}],"predecessor-version":[{"id":1094615,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1094613\/revisions\/1094615"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1094613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1094613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1094613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}