Tuesday, March 11th, 2008
Alamos Gold Inc. Reports its 2007 and Restated 2006 Financial Results
2007 Highlights
During the year ended December 31, 2007, the Company:
- Increased gold sales 19% to 108,281 ounces compared to 91,220 ounces in 2006.
- Recorded revenues of $74 million, an increase of 35% over 2006 revenues of $54.7 million.
- Recognized earnings of $2.9 million ($0.03 per share), compared to a restated loss of $0.3 million ($0.07 per share) in 2006.
- Generated positive cash flows from operating activities of $20.9 million ($0.22 per share) compared to negative cash flows of $0.7 million ($0.01 per share) in 2006.
- Produced 106,200 ounces of gold at a cash operating cost of $390 per ounce of gold sold (total cash cost inclusive of royalties of $425).
- Realized a cash margin per ounce of gold sold of $259 compared to $281 in 2006.
- Considerably strengthened its financial position through the repayment of its bank loan and increase in working capital to $39.2 million.
- Reported a resource of 0.5 million ounces at El Victor.
- Announced the appointment of Mr. Eduardo Luna (Chairman, Silver Wheaton Minerals Inc., ex-President of Goldcorp (Mexico)) to the Company?s Board of Directors.
During the fourth quarter of 2007, the Company:
- Recorded quarterly revenues of $20.7 million, an increase of 35% over revenues in the fourth quarter of 2006 of $15.3 million.
- Increased quarterly gold sales 7% to 27,029 ounces compared to 25,270 in the same period of 2006.
- Increased quarterly cash flows from operating activities from $0.6 million in the fourth quarter of 2006 to $9.2 million.
Conference Call
The Company's senior management will host a conference call on Wednesday, March 12th, 2008 at 11:00 a.m. EDT (8:00 am PDT) to discuss financial results and provide an update of the Company's exploration and development activities.
Via Telephone:
For those preferring to listen by telephone, please dial 416-641-6121 or Toll Free 1-866-225-9256. To ensure your participation, please call approximately five minutes prior to the scheduled start of the call.
Via Webcast:
A live audio webcast of the meeting will be available on the Company's website homepage at www.alamosgold.com
FOR FURTHER INFORMATION PLEASE CONTACT:
Victoria Vargas
Investor Relations
Tel: (416) 368-9932 Ext. 201
Cell: (289) 242-3599
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Alamos Gold
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DEVELOPMENT STAGE |
CODE : AGI.TO |
ISIN : CA0115271086 |
CUSIP : 011527108 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Alamos Gold is a gold development stage company based in Canada. Alamos Gold develops gold and silver in Mexico and in Peru, and holds various exploration projects in Peru and in Turkey. Its main assets in development are CERRO JUMIL in Mexico and SAN LUIS PROJECT in Peru and its main exploration properties are GAP, EL JASPE, PUERTO DEL AIRE, BIRICU, LA PROVIDENCIA PROSPECT, MERCURY MINES, ESCONDIDA MIL, EL REALITO, LOS BAJIOS, LA YAQUI, CERRO PELON and MULATOS in Mexico, ABRA ROJO, UTCUCOCHA, COLQUI ORCCO and PUCARANA in Peru and AGI DAGI, KIRAZLI and CAMYURT in Turkey. Alamos Gold is listed in Canada and in United States of America. Its market capitalisation is CA$ 5.6 billions as of today (US$ 4.1 billions, € 3.8 billions). Its stock quote reached its lowest recent point on May 14, 2004 at CA$ 1.50, and its highest recent level on April 26, 2024 at CA$ 20.91. Alamos Gold has 266 320 000 shares outstanding. |