Construction activities on the Phase 3+ Expansion are advancing, including the start of construction of the hoist house and other shaft infrastructure. The Island Gold expansion Phase 3+ Ontario, Canada.Gold production is expected to increase significantly by 2025. Mulatos District production more than doubled from the first quarter of 2022 to 50.5K ounces, at substantially lower costs, with La Yaqui Grande driving a significant increase in mine-site free cash flow to $36.8 million.Īlamos Gold also runs two other ongoing projects. The increase was explained by a solid performance at Mulatos district and Young Davidson, slightly offset by Island Gold.ĪGI Gold production per mine 4Q22 versus 1Q23 (Fun Trading) It was a solid production, up 29.8% YoY, exceeding quarterly guidance, driven by a significant increase in production from the Mulatos District.īelow is shown the 1Q23 highlights and 2023 Guidance:ĪGI 1Q23 Highlights and 2023 Guidance (AGI Presentation) Revenues were up a whopping 36.3% from 1Q22.ĪGI pays a quarterly dividend of $0.025 per share (annualized rate of $0.10, or a yield of 1%).ĪGI produced 128.4K Au ounces in 1Q23 and sold 133,668 Au ounces at $1,896 per ounce. The company posted record revenues of $251.5 million in 1Q23 and a net income of $48.4 million, or $0.12 per diluted share.
SOLID GOLD FINDINGS FULL
We are well on track to achieve our full year guidance. This was driven by solid performances at all three operations, including an exceptional performance from La Yaqui Grande in its third full quarter of operation. We had a strong start to the year, with costs in line with annual guidance and production of 128,400 ounces exceeding our first quarter guidance. President & CEO John McCluskey said in the conference call: I have followed AGI on Seeking Alpha since August 2017.
SOLID GOLD FINDINGS UPDATE
Note: This article is an update of my article published on February 28, 2023. ( NYSE: AGI) released its first-quarter results on February 22, 2023.
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