Alamos Gold (TSX: AGI ) reported that gold production during the fourth quarter of 2007 increased to approximately 31,100 ounces, a 43.5% increase over the previous quarter.
Gold Production Increases Again at Mulatos
Just a few weeks ago I talked with you about Alamos Gold (TSX: AGI) and the increase of gold production at the company’s 100% owned Mulatos Mine.
At that time I reported to you that "crusher throughput at the Mulatos Mine was 27% higher in October than the third quarter average, while gold production of ~9,200 ounces was 26% higher. The company also reported that crusher throughput at Mulatos in November was higher than in October and gold production was approximately 10,050 ounces, 37% higher than the third quarter average and roughly 9% higher than in October."
Now, Alamos is reporting another, much larger increase in gold production at the Mulatos Mine.
The company announced that gold production increased from 21,674 ounces during the third quarter of 2007 to approximately 31,100 ounces during the fourth quarter, an impressive 43.5% increase.
At last look, shares of AGI were $0.76, or 13.22%, higher today.
Gold production during the fourth quarter benefited from improved crusher throughput, averaging 13,000 tonnes per day, up 41% from the third quarter 2007 average of 9,200 tonnes per day.
Alamos achieved increased gold sales in 2007 of 108,296 ounces,19% higher than the 91,220 ounces of gold sold in 2006. Unaudited revenue for 2007 was reported to be $74 million compared with $54.7 million for 2006, an increase of 35%.
Alamos’ audited fourth quarter and year-end 2007 results will be officially reported on Tuesday, March 11th after market close. I expect an increase in gold resources and reserves during this report.
Until next time,