- 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.