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Alamos Gold reports net earnings of $15.5 million in second quarter

By The Canadian Press  | August 04, 2011

TORONTO - Alamos Gold Inc. (TSX:AGI) says it earn $15.5 million, or 13 cents per share, in the second quarter.

That was a 63 per cent increase from earnings of $9.5 million, or eight cents per share, in the same period of 2010.

The increase in earnings is attributable to higher operating cash margins per ounce of over $1,000 in the quarter, resulting from higher realized gold prices.

The company says it continued to benefit from record gold prices in the quarter to achieve the increase in quarterly earnings and cash flows.

Gold production in the first half of 2011 was 73,500 ounces at a cash operating cost per ounce of gold sold of $352.

Alamos owns and operates the Mulatos Mine in Mexico, and has exploration and development activities in Mexico and Turkey.

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