- Alamos Gold (AGI) has announced initial production of 991 ounces of gold following the completion of construction at the La Yaqui Grande mine in Sonora, Mexico
- La Yaqui Grande is expected to produce approximately 3,000 ounces of gold in June
- With the construction of La Yaqui Grande completed, Mulatos is expected to generate mine-site stable free cash flow starting in the second half of the year
- The project generated more than 1,000 jobs during construction, and will continue to sustain 450 jobs
- Alamos is a Canadian-based gold producer
- Alamos Gold Inc. (AGI) opened trading at C$9.29
Alamos Gold (AGI) has announced initial gold production at the La Yaqui Grande mine in Sonora, Mexico, following the completion of construction.
President & CEO John McCluskey commented on the achievement.
“This represents a significant achievement with the construction of La Yaqui Grande having been completed ahead of schedule while navigating a challenging environment over the past few years with COVID-19. On behalf of Alamos, I would like to congratulate our entire team at Mulatos. La Yaqui Grande represents another in a long line of discoveries that have extended the mine life of the overall Mulatos Complex since it began producing in 2005. Given its higher grades and recoveries, La Yaqui Grande underpins a strong outlook for Mulatos with higher production and lower costs driving growing free cash flow in the second half of this year and beyond.”
A total of 991 ounces of gold were produced from the initial pour. La Yaqui Grande is expected to produce approximately 3,000 ounces in June.
Combined with lower capital spending with the construction of La Yaqui Grande completed, Mulatos is expected to generate mine-site stable free cash flow starting in the second half of the year. Costs are expected to continue to improve into 2023, reflecting a full year of production from La Yaqui Grande.
The construction project will extend the life of the La Yaqui Grande mine for at least five years, ensuring the company’s continued presence in the state of Sonora, Mexico.
The La Yaqui Grande construction project was completed ahead of schedule generating more than 1,000 jobs during construction and will continue to sustain 450 jobs.
To mark the occasion, the company held a ceremony at the site with President and Chief Executive Officer John A. McCluskey, members of the Alamos Gold Board of Directors, and employees from the La Yaqui Grande mine.
Alamos is a Canadian-based gold producer with three operating mines in North America. This includes the Young-Davidson and Island Gold mines in northern Ontario, Canada and the Mulatos mine in Sonora State, Mexico.
Alamos Gold Inc. (AGI) opened trading at C$9.29.