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Alamos Achieves 2013 Production Guidance, Outlines 2014 Plans

Alamos Gold (NYSE: AGI) today reported fourth quarter and annual 2013 production, achieving both its production and cost guidance for the year. The Company also provided 2014 production and operating guidance along with its global exploration and development budgets.Fourth Quarter and Full Year 2013 Operating ResultsGold Production"We had yet another strong year at Mulatos, achieving the mid-range of our production guidance, with costs expected to come in at the low end of our guidance. We produced 190,000 ounces of gold in 2014 and sold a record 198,200 ounces at a total cash cost per ounce of approximately $500. Despite realizing lower than expected grades from the Escondida high-grade deposit as production from that zone winds down, our open pit heap leach production, the driver of our Mulatos mine, continued to perform extremely well. 2013 was a challenging year with the sharp decrease in the gold price, yet with our low cost structure we continued to generate strong cash flow. With approximately $410 million in cash, no debt, and a peer leading, fully funded growth profile, we remain exceptionally

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Posted-In: News Guidance Contracts Management Global

 

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