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Alamos Gold to reacquire NSR royalty, lowers cost guidance

Mar. 16, 2020 12:45 PM ETAlamos Gold Inc. (AGI) Stock, AGI:CA StockAGIBy: Vandana Singh, SA News Editor2 Comments
  • Alamos Gold (AGI +17.2%) to reacquire a 3% net-smelter-return royalty on the Island Gold Mine for C$75M, and as a result lowered its cost guidance for 2020.
  • The company also reports a decrease of $40 per ounce, or 7%, in Island Gold’s 2020 total cash cost guidance to between $480 and $520.
  • AGI's consolidated total cash costs for all operations – were trimmed by $13 an ounce to between $757 - $797, compared to $770 - $810 previously.
  • “The acquisition of the royalty further reduces costs at what is already a low-cost operation while also increasing our exposure to the tremendous exploration upside,”said John A. McCluskey, president and chief executive officer.

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