Alamos produces first gold from La Yaqui Grande mine

Jun. 21, 2022 2:54 PM ETAlamos Gold Inc. (AGI), AGI:CABy: Carl Surran, SA News Editor

Mine work underground

sezer66/iStock via Getty Images

Alamos Gold (NYSE:AGI) +3.2% in Tuesday's trading, a day after announcing initial gold production from its La Yaqui Grande mine in Mexico, following the completion of construction ahead of schedule.

Alamos Gold (AGI) expects La Yaqui Grande will produce 3K oz in June alone, which already has been factored into Q2 consolidated production guidance of 100K-110K oz.

Consistent with FY 2022 guidance, stacking rates at the mine are expected to ramp up through this year's H2, driving production higher and costs lower at the Mulatos complex and company-wide starting in Q3.

First announced in July 2020 as Alamos Gold's (AGI) next low-cost, high-return project in the Mulatos district, the company said the large-scale construction project will extend the life of mine for at least five years.

Alamos Gold (AGI) offers low valuation, growth and inflation protection, SomaBull writes in a bullish analysis published on Seeking Alpha.

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