|Alamos Gold Inc. - AGI.t operates the Young-Davidson Mine in Canada, the Mulatos Mine and El Chanate mines both in Mexico.|
The company expects 2016 production to be between 370,000 - 400,000 oz Au at all in AISC sustaining costs of $975
Alamos Gold Inc. (TSX:AGI)(NYSE:AGI) ("Alamos" or the "Company") today reported it has received final approval of the Environmental Impact Assessment ("EIA") for phase I of its La Yaqui project from SEMARNAT, Mexico's Federal environmental agency.
"This marks another important milestone in the development of the La Yaqui project. With ongoing exploration success, La Yaqui is growing into one of the most important deposits within the Mulatos District. Combined with its higher grades and recoveries, we expect La Yaqui will be a significant source of low cost production at Mulatos for many years to come," said John A. McCluskey, President and Chief Executive Officer.
Construction activities for the phase I development of the La Yaqui mineral reserve are expected to commence later this year with initial production on track for mid-2017.