| | Published : January 08th, 2008 | Increases Quarterly Production by 43% in Q4 2007 |
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Alamos Gold Inc.
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Suite
2010,120 Adelaide Street West
Toronto,
Ontario
Canada M5H 1T1
Telephone: (416)
368-9932
1-866-788-8801
Website: www.alamosgold.com
Trading
Symbol: TSX : AGI
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Tuesday,
January 08, 2008
Alamos Gold Inc. Increases Quarterly
Production by 43% in Q4 2007
Toronto,
Ontario Alamos Gold Inc. (TSX: AGI) (?Alamos? or the ?Company?)
announces that gold production for the fourth quarter 2007 was approximately
31,100 ounces. Gold production in the fourth quarter of 2007 increased 43% over
the 21,674 ounces produced in the third quarter, a period in which gold
production was adversely affected by record rainfall. The Company exceeded its
fourth quarter production target of 30,000 ounces of gold by 1,100 ounces.
Quarterly production benefited from improved crusher throughput, averaging
13,000 tonnes per day, up 41% from the third quarter 2007 average of 9,200
tonnes per day.
The Company
also achieved increased gold sales in 2007 of 108,296 ounces, 17,076 ounces or
19% higher than the 91,220 ounces of gold sold in 2006. Unaudited revenue for
2007 was $74 million compared with $54.7 million for 2006, an increase of 35%.
The Company benefited from both increased gold sales and higher gold prices in
2007 compared with 2006.
The
following table sets out gold production in Q3 and Q4 2007 (fourth quarter
production is subject to final refinery settlements):
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Q3
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October
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November
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December
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Q4
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Gold production (oz)
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21,674
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9,200
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10,050
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11,850
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31,100
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Strong cash
flows from operations combined with the recovery of outstanding tax receivables
enabled the Company to repay the $7 million balance outstanding on its bank
debt in the fourth quarter. The Company reports that it recovered approximately
$6 million in Mexican value-added tax receivables in the fourth quarter.
The Company
also announces that certain initiatives which are expected to improve gold
recoveries are progressing. The Company is currently evaluating the effects of
solution pH, solution flow rates and cement agglomeration on gold recoveries.
Interim data from column tests at an independent facility indicated that gold
recoveries improved when crushed ore was agglomerated with cement. The Company
will assess all test results and recommendations when the final report is
received. A second initiative involves placing ore on the leach pad using a
leach pad stacking/conveying system, which is expected to be operational in the
first quarter of 2008.
2007
Year-end Results
Alamos will
report its fourth quarter and year-end 2007 results on Tuesday, March 11th,
2008, after market close. The Company will host a conference call on Wednesday,
March 12th, 2008 at 11:00 a.m. (EST).
Live Conference Call:
Local Access: 416-641-6121
Toll-Free Access: 1-866-225-9256
Instant
Replay Access information:
Local Access: 416-695-5800
Toll-Free Access: 1-800-408-3053
Passcode: 3247816
Expiry Date: March 26th, 2008
Alamos is a
Canadian-based gold producer with operations, exploration and development
activities in Mexico. The Company employs approximately 400 people in Mexico
and is committed to the highest standards of environmental management, social
responsibility, and health and safety for its employees and neighboring
communities. Alamos is fully leveraged to increases in gold prices. Alamos?
common shares are traded on the Toronto Stock Exchange under the symbol ?AGI?
and convertible debentures under the symbol ?AGI.DB?.
FOR FURTHER INFORMATION, PLEASE CONTACT:
John A.
McCluskey
Victoria Vargas
President and Chief Executive
Officer
Investor Relations
Tel: 416-368-9932
x203
Tel: 416-368-9932 x201
________________________________________________________________________________________
The TSX has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
Cautionary Note
No stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein. This News Release
includes certain ?forward-looking statements?. All statements other than
statements of historical fact included in this release, including without
limitation statements regarding potential mineralization and reserves,
exploration results, and future plans and objectives of Alamos, are
forward-looking statements that involve various risks and uncertainties. These
forward-looking statements include, but are not limited to, statements with
respect to anticipated commencement dates of mining production, mining and
procession of mined ore, achieving projected recovery rates anticipated
production rates and mine life, operating efficiencies, costs and expenditures
and conversion of mineral resources to proven and probable reserves, and other
information that is based on forecasts of future results, estimates of amounts
not yet determinable and assumptions of management.
Any
statements that express or involve discussions with respect to predictions,
expectations, beliefs, plans, projections, objectives, assumptions or future
events or performance (often, but not always, using words or phrases such as
"expects" or "does not expect", "is expected",
"anticipates" or "does not anticipate", "plans",
"estimates" or "intends", or stating that certain actions,
events or results "may", "could", "would",
"might" or "will" be taken, occur or be achieved) are not
statements of historical fact and may be "forward-looking
statements." Forward-looking statements are subject to a variety of
risks and uncertainties which could cause actual events or results to differ
from those reflected in the forward-looking statements.
There can be
no assurance that forward-looking statements will prove to be accurate and
actual results and future events could differ materially from those anticipated
in such statements. Important factors that could cause actual results to differ
materially from Alamos? expectations include, among others, risks related to
international operations, the actual results of current exploration activities,
conclusions of economic evaluations and changes in project parameters as plans
continue to be refined as well as future prices of gold and silver, as well as
those factors discussed in the section entitled ?Risk Factors? in Alamos? AIF
(Form 20-F as filed with the United States Securities and Exchange Commission).
Although Alamos has attempted to identify important factors that could cause
actual results to differ materially, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be no
assurance that such statements will prove to be accurate as actual results and
future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements.
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VanEck Vectors Global Alternative Energy ETF
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|
DEVELOPMENT STAGE |
CODE : AGI.TO |
ISIN : CA0115271086 |
CUSIP : 011527108 |
| |
ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Alamos Gold is a gold producing company based in Canada. Alamos Gold develops gold and silver in Mexico and in Peru, and holds various exploration projects in Peru and in Turkey. Its main assets in development are CERRO JUMIL in Mexico and SAN LUIS PROJECT in Peru and its main exploration properties are GAP, EL JASPE, PUERTO DEL AIRE, BIRICU, LA PROVIDENCIA PROSPECT, MERCURY MINES, ESCONDIDA MIL, EL REALITO, LOS BAJIOS, LA YAQUI, CERRO PELON and MULATOS in Mexico, ABRA ROJO, UTCUCOCHA, COLQUI ORCCO and PUCARANA in Peru and AGI DAGI, KIRAZLI and CAMYURT in Turkey. Alamos Gold is listed in Canada and in United States of America. Its market capitalisation is 1.2 billions as of today (US$ 847.6 millions, € 798.4 millions). Its stock quote reached its lowest recent point on May 14, 2004 at 1.50, and its highest recent level on November 14, 2024 at 24.93. Alamos Gold has 47 442 200 shares outstanding. |
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