Alamos Gold Inc (AGI) Q4 2020 Earnings Call Transcript fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
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Alamos Gold expects the Young-Davidson underground mine in Ontario to drive a 17% production increase over 2020 levels, to 470,000 to 510,000 gold ounces. The increase follows a lower mine expansion that was completed in July. The Toronto-based company released the details as part of its guidance for 2021 and a general production outlook through to 2025.
Production at the Young-Davidson mine is expected to increase by 41% next year, from higher mining rates and increased grades. Approximately 190,000 to 205,000 oz. are expected from this mine next year, compared with this year’s guidance for 135,000 to 145,000 oz.
In the release, the miner also indicated that it is on track to meet its 2020 guidance of 405,000 to 435,000 gold oz. at all-in sustaining costs of US$1,030 to US$1,070 per oz.