Alamos Gold says production exceeded guidance in Q1; reports net earnings of $48.4 million

- Alamos Gold announced on Wednesday that the company produced 128,400 ounces of gold in Q1 2023, exceeding quarterly guidance and marking a 30% increase from Q1 2022, driven by a significant increase in production from the Mulatos District.

Alamos noted that total cash costs were slightly below annual guidance, while AISC were at the top end of annual guidance, reflecting higher stock based compensation charges resulting from the increase in the company's share price in the period. "Following up on a strong performance in 2022, we had an excellent start to the year operationally and financially. Production exceeded our first quarter guidance and costs were once again in line with guidance. All three operations continue to perform well, including another standout performance from La Yaqui Grande, the key driver of our expected production growth and decrease in costs this year," stated President and CEO John A. McCluskey.

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