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Alamos Gold (NYSE:AGI) (TSX:AGI:CA) has reported its production for Q4 and FY 2023, marking a significant milestone for the company.
The company achieved a record 529,300 ounces of gold production, reaching the high end of the revised guidance, which had been raised by 5% in October 2023.
The miner sold 129,005 ounces of gold in Q4 at an average realized price of $1,973 per ounce, resulting in revenues of $255M.
FY sales totaled 526,257 ounces of gold at an average realized price of $1,944 per ounce, generating record revenues of $1B.
Furthermore, the company closed the year with approximately $225M in cash and cash equivalents, showing substantial growth from the $130M at the end of 2022.
In its latest guidance, Alamos Gold foresees gold production in 2024 to range between 485,000 and 525,000 ounces, marking a 3% uplift from the previous three-year guidance provided in January 2023. The company expects a 7% growth by 2026.
Additionally, the company anticipates that total cash costs and AISC (All-in Sustaining Costs) per ounce will remain level in 2024 and decrease by 15% and 11%, respectively, by 2026.
