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Alamos Gold's production climbs YOY in Q2 on record Young-Davidson output

Alamos Gold Inc.'s second-quarter gold production rose to 105,900 ounces, up from 92,464 ounces the year before, as the company's Young-Davidson mine in Ontario achieved record production of 47,300 ounces.

Gold sales during the period increased to 104,023 ounces with an average realized price of US$1,262/oz, compared to 95,866 ounces sold at US$1,253/oz in the second quarter of 2016.

Alamos Gold's operating revenue increased from US$120.1 million to US$131.3 million year over year, according to the company's Aug. 3 release.

Total cash costs increased slightly to US$784 per ounce sold in the quarter, compared to US$775 per ounce the year before, while all-in sustaining costs declined to US$942 per ounce of gold sold, down from US$1,037 per ounce.

In the first half of the year, Alamos Gold produced 202,100 ounces of gold, increasing year over year from 187,095 ounces. Gold sales for the six-month period came in at 202,778 ounces, up from 186,855 ounces in the first half of 2016.

The company also reported that subsequent to the second quarter, it completed two flow-through financings for gross proceeds of C$15 million.

Alamos Gold expects total CapEx in the range of US$140 million to US$157 million for the full year and production of between 400,000 and 430,000 ounces of gold.

The La Yaqui mine at the company's Mulatos operation in Mexico is slated for initial production later this year, with early-stage construction planned at Kirazli in Turkey. In addition, a feasibility study for the Lynn Lake property in Manitoba is anticipated this quarter. The Lynn Lake property includes the MacLellan and Farley Lake deposits.