Alamos Gold Inc. Reports Fourth Quarter and Full Year 2016 Production Results; Provides Production and Capital Expenditure Guidance for the Year 2017
For the year 2016, the company produced 392,000 ounces of gold, including 170,000 ounces from Young-Davidson, 154,000 ounces from Mulatos and 68,000 ounces from El Chanate compared with 380,000 ounces of gold, including 160,358 ounces from Young-Davidson, 140,330 ounces from Mulatos and 79,312 ounces from El Chanate for the same period last year.
For the year 2017, the company expected production guidance of 400,000 to 430,000 ounces of gold, a 6% increase over 2016 driven by production growth from both Young-Davidson and Mulatos.
Capital budget for operating mines of $105 million - $122 million, down from 2016 guidance of $111 million - $131 million reflecting an expected $20 million decrease in capital spending at Young-Davidson, partially offset by higher capital at Mulatos for the development of La Yaqui Phase I.