Alamos Gold Posts 9% Production Hike at Mexican Mine
Alamos Gold Inc. posted a 9 percent rise in production at its flagship Mulatos mine in Mexico, and said it was on track to meet its annual output view.
Third-quarter production was 33,000 ounces of gold, up from 30,200 ounces a year ago.
The Toronto, Ontario-based miner said it was on track to achieve its annual production outlook of 145,000-160,000 ounces. Quarterly revenue rose 38 percent to $47.2 million, from a year ago.
Alamos, and some other miners in Mexico like Silvermex Resources, had been hit in the prior quarter by a cyanide shortage, due to flooding at the key supplier's production facility.
The company's primary cyanide supplier resumed normal shipments in August, resulting in a substantial improvement in month-over-month production, Alamos said in a statement.
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