Alamos Gold reports Q3 EPS 10c, consensus 12c

Reports Q3 revenue $256.2M, consensus $255.45M. “With another strong quarterly performance, we are on pace for a record year both operationally and financially. Production of 135,400 ounces was above our quarterly guidance, putting us on track to set a new record for annual production. Given the strong year-to-date performance, we are raising our full year production guidance by 5% to a range of 515,000 to 530,000 ounces. With total cash costs and all-in sustaining costs below the mid-point of guidance in the quarter and year-to-date, we are also on track to achieve full year cost guidance,” said John A. McCluskey, President and Chief Executive Officer. “This contributed to another solid quarter financially with $37M of free cash flow, bringing the year-to-date total to $109M. This represents a substantial increase from 2022 while investing in our high-return growth projects. At Island Gold, the Phase 3+ Expansion is progressing well with the headframe up and shaft sinking on schedule to begin later this year. The updated Feasibility Study on Lynn Lake outlined another long-life, low-cost project in Canada, with excellent exploration upside. The development plan for PDA is also advancing as the deposit continues to grow through ongoing exploration success. All three projects are key drivers of our ongoing value creation and strong long-term outlook, supporting growing production, declining costs, and increasing profitability,” Mr. McCluskey added.