The output demonstrates 36% growth over 40,500 ounces of gold produced in the first quarter of 2012.
The increase in production is attributed to higher crusher throughput and full quarter production from the Escondida high-grade zone compared to a commissioning period in the first quarter of 2012.
Crusher throughput during the first quarter averaged at 17,900 tons per day, a 29% increase compared to than 13,900 tons per day for the corresponding quarter of previous year.
Further, the company expects to complete the mining from Escondida high-grade reserves by the end of 2013 when its deep zone is expected to provide additional high-grade mill feed.
Alamos Gold president and CEO John A. McCluskey stated that the record quarterly performance and its share buyback program reflects company’s success maintaining a financial and operating platform to support profitable growth.
"With respect to Alamos’ growth plans, we expect that in 2013 we will obtain the approvals required to begin building Agi Dagi and Kirazli, two self-funded mines in Turkey.
As we have noted previously, the Kirazli Project is in the final stage of Environmental Impact Assessment (EIA) approval. In the next few weeks, we plan to submit our EIA for Agi Dagi," revealed McCluskey.
