|By Marketwired .||
|July 9, 2008 05:00 PM EDT||
TORONTO, ONTARIO -- (MARKET WIRE) -- 07/09/08 -- Alamos Gold Inc. (TSX: AGI) ("Alamos" or the "Company") reports continued record quarterly results from its Mulatos mine in Mexico. In addition, the Company is pleased to announce the promotion and appointment of James R. Porter to the role of Vice-President of Finance.
Q2-08 Production and Sales Update
The following table presents the Company's gold production and sales in the second quarter of 2008 compared to the first quarter of 2008. All dollar amounts are expressed in Unites States currency.
---------------------------------------------------------------------------- Q2 Q1 % 2008(1) 2008 Change Gold production (ounces)(2) 38,500 33,253 16% Gold sales (ounces) 35,482 34,609 3% Revenues (000) $32,337 $31,030 4% Realized gold price per ounce $911 $897 2% ---------------------------------------------------------------------------- (1) All amounts for Q2-2008 are preliminary based on initial period-end estimates - final adjustments may be required. (2) Before final refinery settlements which may result in increases or decreases to reported gold production.
Gold production in the second quarter of 2008 was a record at 38,500 ounces, an increase of 16% over gold production in the first quarter of 2008, and 10% higher than the Company's guidance of 35,000 ounces for the quarter.
Record gold sales for the quarter totaled 35,482 ounces at an average realized gold price of $911 per ounce resulting in quarterly revenue of $32.3 million.
Cash operating cost per ounce (exclusive of royalties which vary with changes in the gold price) for the second quarter of 2008 are expected to be below the Company's previous guidance of $385 per ounce.
Appointment of Vice-President of Finance
The Company is pleased to announce the promotion and appointment of James R. Porter, CA, CPA to the role of Vice-President of Finance effective July 1, 2008.
Mr. Porter has been with the Company for nearly three years, joining Alamos in 2005 as Controller. Mr. Porter previously served for two years as Controller and Corporate Secretary of another publicly-listed gold producing company, prior to which he spent four years at PricewaterhouseCoopers LLP. His responsibilities there included managing the audits of multinational public companies, including both large international and junior mining companies.
Mr. Porter holds a Bachelor of Administrative and Commercial Studies Degree from the University of Western Ontario, and is a Chartered Accountant in Ontario and a U.S. Certified Public Accountant.
Alamos is a Canadian-based gold producer with operations, exploration and development activities in Mexico. The Company employs approximately 400 people in Mexico and is committed to the highest standards of environmental management, social responsibility, and health and safety for its employees and neighbouring communities. Alamos is fully leveraged to increases in gold prices. Alamos' common shares are traded on the Toronto Stock Exchange under the symbol "AGI".
Cautionary Non-GAAP Statements
The Company believes that investors use certain indicators to assess gold mining companies. They are intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared with GAAP. "Cash operating cost per ounce" is a non-GAAP term typically used by gold mining companies to assess the level of gross margin available to the Company by subtracting these costs from the unit price realized during the period. This non-GAAP term is also used to assess the ability of a mining company to generate cash flow from operations. There may be some variation in the method of computation of "cash operating cost per ounce" as determined by the Company compared with other mining companies. In this context, "cash operating cost per ounce" reflects the cash operating costs allocated from in-process and dore inventory associated with ounces of gold sold in the period. "Cash operating cost per ounce" may vary from one period to another due to operating efficiencies, waste-to-ore ratios, grade of ore processed and gold recovery rates in the period.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release includes certain "forward-looking statements". All statements other than statements of historical fact included in this release, including without limitation statements regarding gold production, gold sales, cash operating cost per ounce, and future plans and objectives of Alamos, are forward-looking statements that involve various risks and uncertainties. These forward-looking statements include, but are not limited to, statements with respect to anticipated production and sales statistics (including "Gold production (ounces)", "Gold sales (ounces)", "Revenues" and "Realized gold price per ounce") which may be subject to audit or final revision, estimates of costs of production and operating margins (including "Cash operating cost per ounce"), mining and processing of ore, projected recovery rates, anticipated future production rates and mine life, operating efficiencies, costs and expenditures, changes in mineral resources and conversion of mineral resources to proven and probable reserves, and other information that is based on forecasts of future operational or financial results, estimates of amounts not yet determinable and assumptions of management. These statements may be subject to change, and any changes could be material.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements." Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements.
There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Alamos' expectations include, among others, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of gold and silver, as well as those factors discussed in the section entitled "Risk Factors" in Alamos' Annual Information Form. Although Alamos has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Alamos Gold Inc.
John A. McCluskey
President and Chief Executive Officer
(416) 368-9932 or 1-866-788-8801
With online viewership and sales growing rapidly, enterprises are interested in understanding how they analyze performance to positively impact business metrics. Deeper insight into the user experience is needed to understand why conversions are dropping and/or bounce rates are increasing or, preferably, to understand what has been helping these metrics improve. The digital performance management industry has evolved as application performance management companies have broadened their scope beyo...
Sep. 30, 2016 09:15 PM EDT Reads: 1,426
SYS-CON Events announced today the Kubernetes and Google Container Engine Workshop, being held November 3, 2016, in conjunction with @DevOpsSummit at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA. This workshop led by Sebastian Scheele introduces participants to Kubernetes and Google Container Engine (GKE). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, students learn the key concepts and practices for deploying and maintainin...
Sep. 30, 2016 09:00 PM EDT Reads: 2,800
In this strange new world where more and more power is drawn from business technology, companies are effectively straddling two paths on the road to innovation and transformation into digital enterprises. The first path is the heritage trail – with “legacy” technology forming the background. Here, extant technologies are transformed by core IT teams to provide more API-driven approaches. Legacy systems can restrict companies that are transitioning into digital enterprises. To truly become a lea...
Sep. 30, 2016 08:15 PM EDT Reads: 741
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...
Sep. 30, 2016 08:00 PM EDT Reads: 1,561
Throughout history, various leaders have risen up and tried to unify the world by conquest. Fortunately, none of their plans have succeeded. The world goes on just fine with each country ruling itself; no single ruler is necessary. That’s how it is with the container platform ecosystem, as well. There’s no need for one all-powerful, all-encompassing container platform. Think about any other technology sector out there – there are always multiple solutions in every space. The same goes for conta...
Sep. 30, 2016 07:45 PM EDT Reads: 1,306
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
Sep. 30, 2016 07:15 PM EDT Reads: 5,403
24Notion is full-service global creative digital marketing, technology and lifestyle agency that combines strategic ideas with customized tactical execution. With a broad understand of the art of traditional marketing, new media, communications and social influence, 24Notion uniquely understands how to connect your brand strategy with the right consumer. 24Notion ranked #12 on Corporate Social Responsibility - Book of List.
Sep. 30, 2016 07:15 PM EDT Reads: 445
The Jevons Paradox suggests that when technological advances increase efficiency of a resource, it results in an overall increase in consumption. Writing on the increased use of coal as a result of technological improvements, 19th-century economist William Stanley Jevons found that these improvements led to the development of new ways to utilize coal. In his session at 19th Cloud Expo, Mark Thiele, Chief Strategy Officer for Apcera, will compare the Jevons Paradox to modern-day enterprise IT, e...
Sep. 30, 2016 07:00 PM EDT Reads: 2,453
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
Sep. 30, 2016 06:30 PM EDT Reads: 2,907
SYS-CON Events announced today that eCube Systems, a leading provider of middleware modernization, integration, and management solutions, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. eCube Systems offers a family of middleware evolution products and services that maximize return on technology investment by leveraging existing technical equity to meet evolving business needs. ...
Sep. 30, 2016 06:15 PM EDT Reads: 1,624
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
Sep. 30, 2016 06:15 PM EDT Reads: 3,535
Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some form of XaaS - software, platform, and infrastructure as a service.
Sep. 30, 2016 04:45 PM EDT Reads: 961
Whether they’re located in a public, private, or hybrid cloud environment, cloud technologies are constantly evolving. While the innovation is exciting, the end mission of delivering business value and rapidly producing incremental product features is paramount. In his session at @DevOpsSummit at 19th Cloud Expo, Kiran Chitturi, CTO Architect at Sungard AS, will discuss DevOps culture, its evolution of frameworks and technologies, and how it is achieving maturity. He will also cover various st...
Sep. 30, 2016 04:45 PM EDT Reads: 2,016
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Sep. 30, 2016 04:00 PM EDT Reads: 3,594
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, will discuss how VPaaS enables you to move fast, creating scalable video experiences that reach your ...
Sep. 30, 2016 03:00 PM EDT Reads: 1,264
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
Sep. 30, 2016 01:15 PM EDT Reads: 1,294
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devices - comp...
Sep. 30, 2016 01:15 PM EDT Reads: 5,169
It's been a busy time for tech's ongoing infatuation with containers. Amazon just announced EC2 Container Registry to simply container management. The new Azure container service taps into Microsoft's partnership with Docker and Mesosphere. You know when there's a standard for containers on the table there's money on the table, too. Everyone is talking containers because they reduce a ton of development-related challenges and make it much easier to move across production and testing environm...
Sep. 30, 2016 01:00 PM EDT Reads: 6,024
19th Cloud Expo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterpri...
Sep. 30, 2016 12:45 PM EDT Reads: 4,508
Apache Hadoop is a key technology for gaining business insights from your Big Data, but the penetration into enterprises is shockingly low. In fact, Apache Hadoop and Big Data proponents recognize that this technology has not yet achieved its game-changing business potential. In his session at 19th Cloud Expo, John Mertic, director of program management for ODPi at The Linux Foundation, will explain why this is, how we can work together as an open data community to increase adoption, and the i...
Sep. 30, 2016 12:00 PM EDT Reads: 1,220