Alamos Gold Friday said production for 2016 was in line with its guidance, with record quarterly results in Q4, and provided its output and capital program targets for 2017.
The company produced 392,000 ounces of gold in 2016, above the mid-point of guidance and ahead of last year’s 380,000 ounces. For Q4, production was 105,676 ounces versus 104,734 ounces for the year-earlier quarter.
For 2017, gold production is expected to increase to a range of 400,000 to 430,000 ounces. All-in sustaining costs, however, are expected to decrease to $940 per ounce of gold sold. The company has set its capital budget at between $105 and $122 million, down from 2016 and will be used “to maximize the profitability and cash flow generation from each operation.”