Welcome!

Microservices Expo Authors: AppNeta Blog, Elizabeth White, Gopala Krishna Behara, Sridhar Chalasani, Tirumala Khandrika

News Feed Item

Alamos Gold Inc. Reports Record Quarterly Gold Production and Sales; Announces Appointment of VP Finance

Alamos Gold Inc. Reports Record Quarterly Gold Production and Sales; Announces Appointment of VP Finance

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.

About Alamos

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.

Cautionary Note

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.

Contacts:
Alamos Gold Inc.
John A. McCluskey
President and Chief Executive Officer
(416) 368-9932 or 1-866-788-8801
Website: www.alamosgold.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@MicroservicesExpo Stories
Lots of cloud technology predictions and analysis are still dealing with future spending and planning, but there are plenty of real-world cloud use cases and implementations happening now. One approach, taken by stalwart GE, is to use SaaS applications for non-differentiated uses. For them, that means moving functions like HR, finance, taxes and scheduling to SaaS, while spending their software development time and resources on the core apps that make GE better, such as inventory, planning and s...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
The IT industry is undergoing a significant evolution to keep up with cloud application demand. We see this happening as a mindset shift, from traditional IT teams to more well-rounded, cloud-focused job roles. The IT industry has become so cloud-minded that Gartner predicts that by 2020, this cloud shift will impact more than $1 trillion of global IT spending. This shift, however, has left some IT professionals feeling a little anxious about what lies ahead. The good news is that cloud computin...
As Enterprise business moves from Monoliths to Microservices, adoption and successful implementations of Microservices become more evident. The goal of Microservices is to improve software delivery speed and increase system safety as scale increases. Documenting hurdles and problems for the use of Microservices will help consultants, architects and specialists to avoid repeating the same mistakes and learn how and when to use (or not use) Microservices at the enterprise level. The circumstance w...
SYS-CON Events announced today that Auditwerx will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Auditwerx specializes in SOC 1, SOC 2, and SOC 3 attestation services throughout the U.S. and Canada. As a division of Carr, Riggs & Ingram (CRI), one of the top 20 largest CPA firms nationally, you can expect the resources, skills, and experience of a much larger firm combined with the accessibility and attent...
SYS-CON Events announced today that HTBase will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. HTBase (Gartner 2016 Cool Vendor) delivers a Composable IT infrastructure solution architected for agility and increased efficiency. It turns compute, storage, and fabric into fluid pools of resources that are easily composed and re-composed to meet each application’s needs. With HTBase, companies can quickly prov...
Everyone wants to use containers, but monitoring containers is hard. New ephemeral architecture introduces new challenges in how monitoring tools need to monitor and visualize containers, so your team can make sense of everything. In his session at @DevOpsSummit, David Gildeh, co-founder and CEO of Outlyer, will go through the challenges and show there is light at the end of the tunnel if you use the right tools and understand what you need to be monitoring to successfully use containers in your...
What if you could build a web application that could support true web-scale traffic without having to ever provision or manage a single server? Sounds magical, and it is! In his session at 20th Cloud Expo, Chris Munns, Senior Developer Advocate for Serverless Applications at Amazon Web Services, will show how to build a serverless website that scales automatically using services like AWS Lambda, Amazon API Gateway, and Amazon S3. We will review several frameworks that can help you build serverle...
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists peeled away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud enviro...
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
By now, every company in the world is on the lookout for the digital disruption that will threaten their existence. In study after study, executives believe that technology has either already disrupted their industry, is in the process of disrupting it or will disrupt it in the near future. As a result, every organization is taking steps to prepare for or mitigate unforeseen disruptions. Yet in almost every industry, the disruption trend continues unabated.
In his General Session at 16th Cloud Expo, David Shacochis, host of The Hybrid IT Files podcast and Vice President at CenturyLink, investigated three key trends of the “gigabit economy" though the story of a Fortune 500 communications company in transformation. Narrating how multi-modal hybrid IT, service automation, and agile delivery all intersect, he will cover the role of storytelling and empathy in achieving strategic alignment between the enterprise and its information technology.
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists discussed how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations might...
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem" ...
In his session at 20th Cloud Expo, Scott Davis, CTO of Embotics, will discuss how automation can provide the dynamic management required to cost-effectively deliver microservices and container solutions at scale. He will discuss how flexible automation is the key to effectively bridging and seamlessly coordinating both IT and developer needs for component orchestration across disparate clouds – an increasingly important requirement at today’s multi-cloud enterprise.
The essence of cloud computing is that all consumable IT resources are delivered as services. In his session at 15th Cloud Expo, Yung Chou, Technology Evangelist at Microsoft, demonstrated the concepts and implementations of two important cloud computing deliveries: Infrastructure as a Service (IaaS) and Platform as a Service (PaaS). He discussed from business and technical viewpoints what exactly they are, why we care, how they are different and in what ways, and the strategies for IT to transi...
Thanks to Docker and the DevOps revolution, microservices have emerged as the new way to build and deploy applications — and there are plenty of great reasons to embrace the microservices trend. If you are going to adopt microservices, you also have to understand that microservice architectures have many moving parts. When it comes to incident management, this presents an important difference between microservices and monolithic architectures. More moving parts mean more complexity to monitor an...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.