Changes for page Alamos Gold

Last modified by Wilton Risenhoover on 2022/07/01 19:17
From version < 7.1 >
edited by Asif Farooqui
on 2022/06/06 05:37
To version < 6.2 >
edited by Asif Farooqui
on 2022/05/30 13:35
< >
Change comment: Added tag [US:AGI]

Summary

Details

Page properties
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1 -US:AGI|CA:AGI
1 +US:AGI
Content
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9 9  * The company currently operate three mines – two in Canada and one in Mexico
10 10  * Alamos Gold has a strong portfolio of development stage projects in Canada, Mexico, Turkey and the United States
11 11  
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12 12  [[image:AGI0.jpg||height="199" width="722"]]
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14 14  
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126 126  
127 127  
128 128  * Produced 98,900 ounces of gold, in line with guidance for the first quarter. Consistent with guidance, gold production is expected to increase through the rest of the year reflecting higher grades at Island Gold in the second quarter and with La Yaqui Grande on track for initial production in the third quarter
129 -* Young-Davidson averaged over 8,000 tonnes per day mined in the quarter, driving production of 51,900 ounces and mine-site free cash flow of $23.2 million
130 +* Young-Davidson averaged over 8,000 tonnes per day mined in the quarter, driving production of 51,900 ounces and mine-site free cash flow1 of $23.2 million
130 130  * Sold 98,466 ounces of gold at an average realized price of $1,874 per ounce for revenues of $184.5 million
131 -* As previously guided, total cash costs of $992 per ounce, AISC of $1,360 per ounce and cost of sales of $1,376 per ounce were all above annual cost guidance. Costs are expected to decrease through the year driven by higher grades at Island Gold, and the start of low-cost production from La Yaqui Grande
132 -* Realized adjusted net earnings for the quarter of $18.0 million, or $0.05 per share. Adjusted net earnings includes adjustments for the non-cash, after tax impairment charge of $26.7 million triggered by the sale of the Esperanza Project, unrealized foreign exchange gains recorded within both deferred taxes and foreign exchange of $5.8 million, and other losses totaling $5.6 million
132 +* As previously guided, total cash costs1 of $992 per ounce, AISC1 of $1,360 per ounce and cost of sales of $1,376 per ounce were all above annual cost guidance. Costs are expected to decrease through the year driven by higher grades at Island Gold, and the start of low-cost production from La Yaqui Grande
133 +* Realized adjusted net earnings1 for the quarter of $18.0 million, or $0.05 per share1 . Adjusted net earnings includes adjustments for the non-cash, after tax impairment charge of $26.7 million triggered by the sale of the Esperanza Project, unrealized foreign exchange gains recorded within both deferred taxes and foreign exchange of $5.8 million, and other losses totaling $5.6 million
133 133  * Reported a net loss of $8.5 million, or $0.02 per share
134 134  * Cash flow from operating activities was $46.5 million ($70.9 million, or $0.18 per share, before changes in working capital)
135 -* Free cash flow was negative in the quarter, primarily related to lower planned production from Mulatos as well as ongoing capital spending on the La Yaqui Grande project. The Company expects to transition to positive free cash flow in the second half of the year driven by lower capital spending and low-cost production from La Yaqui Grande
136 +* Free cash flow1 was negative in the quarter, primarily related to lower planned production from Mulatos as well as ongoing capital spending on the La Yaqui Grande project. The Company expects to transition to positive free cash flow in the second half of the year driven by lower capital spending and low-cost production from La Yaqui Grande
136 136  * Declared a quarterly dividend of $9.8 million, or $0.025 per share (annualized rate of $0.10)
137 137  * Ended the quarter with cash and cash equivalents of $124.2 million, equity securities of $21.6 million, and no debt
138 138  * Announced the sale of the non-core Esperanza Gold Project to Zacatecas Silver Corp. for total consideration of up to $60 million, with the transaction having closed in April 2022.
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139 139  * Reported year end 2021 Mineral Reserves of 10.3 million ounces of gold, a 4% increase from the end of 2020 with growth at all three operating mines more than offsetting mining depletion. This included a 5% increase in global Mineral Reserve Grades reflecting higher grade additions at Island Gold and Mulatos. Island Gold continues to grow with combined Mineral Reserves and Resources increasing 8% to 5.1 million ounces of gold, net of mining depletion, marking a key milestone for the operation and highlighting its significant upside potential
140 140  * Achieved a significant permitting milestone for the Phase III Expansion at Island Gold with the approval of the Closure Plan Amendment by the Ontario Government which allows for the commencement of construction activities. A groundbreaking ceremony was held on site on April 11, 2022, and was attended by Carol Hughes, Member of Parliament, Greg Rickford, Ontario Minister of Northern Development, Mines, Natural Resources and Forestry and Minister of Indigenous Affairs, Todd Smith, Ontario Minister of Energy, Michael Mantha, Member of Provincial Parliament, Beverly Nantel, Mayor of Dubreuilville, as well as other municipal government representatives, Indigenous partners, and other key stakeholders
141 141  
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142 142  During the first quarter of 2022, the Company sold 98,466 ounces of gold for revenues of $184.5 million, a 19% decrease from the prior year period driven by less ounces sold, partially offset by higher realized gold prices.
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144 144  
XWiki.XWikiComments[0]
Author
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1 -XWiki.AsifF
Comment
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1 -Recent investor presentation
2 -https://s24.q4cdn.com/779615370/files/doc_financials/2022/q1/Alamos-Gold-Q1-22-Results-Presentation_FINAL.pdf
Date
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1 -2022-05-30 13:36:02.611
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