Alio Gold Inc. Announces Consolidated Earnings and Production Results for First Quarter Ended March 31, 2018; Maintains Production Guidance for the Year 2018
Alio Gold Inc. announced consolidated earnings and production results for first quarter ended March 31, 2018. For the quarter, the company reported metal revenues decreased to $23.3 million compared to $32.3 million during first quarter of 2017. Net earnings from operations were $3,651,000 against $9,780,000 a year ago. Net earnings were $3,230,000 or $0.07 per basic share against $6,042,000 or $0.17 per basic share a year ago. Cash flows used in operating activities was $1,826,000 against cash flows from operating activities of $9,743,000 a year ago. The decrease in earnings was primarily due to lower gold ounces sold. Additionally, there were lower earnings from mine operations of $3.7 million compared to $9.8 million during first quarter 2017 primarily a result of fewer ounces sold.
For the quarter, the company reported gold production of 17,624 ounces at an all-in sustaining cost of $1,262 per ounce.
The company maintained 2018 guidance of between 90,000 and 100,000 ounces of gold.