|Alamos Gold Inc. - AGI.t operates the Young-Davidson and Island Gold Mines in northern Ontario, and the Mulatos and El Chanate Mines in Sonora, Mexico. |
The company expects combined diversified gold production of over 500 koz at all-in sustaining costs of ~$900/oz
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Alamos Gold Inc. (TSX:AGI) (NYSE:AGI) today reported it has been granted the GSM (Business Opening and Operation) permit required for the development of its Kirazlı project, by the Çanakkale Governorship in Turkey.
“We are very pleased to have achieved this key milestone. With the Environmental Impact Study and Forestry Permits having been previously approved, we have all the required permits to ramp up full scale construction activities. As one of the lowest-cost and highest return gold projects in the world, Kirazlı will be a significant driver of free cash flow growth with initial production expected in 2020,” said John A. McCluskey, President and Chief Executive Officer.