Alamos Gold announce initial gold production from the La Yaqui Grande mine in Sonora, Mexico, following the completion of construction this month, ahead of schedule. Stacking rates continue to ramp up with leaching activities beginning earlier in June. To mark the occasion, the company held a ceremony at the site with President and CEO John A. McCluskey, members of the Alamos Gold Board of Directors, and employees from the La Yaqui Grande mine.
“This represents a significant achievement with the construction of La Yaqui Grande having been completed ahead of schedule while navigating a challenging environment over the past few years with COVID-19,” McCluskey said. “On behalf of Alamos, I would like to congratulate our entire team at Mulatos. La Yaqui Grande represents another in a long line of discoveries that have continued to extend the mine life of the overall Mulatos Complex since it began producing in 2005. Given its higher grades and recoveries, La Yaqui Grande underpins a strong outlook for Mulatos with higher production and lower costs driving growing free cash flow in the second half of this year and beyond.”
A total of 991 ounces of gold were produced from the initial pour. La Yaqui Grande is expected to produce approximately 3,000 ounces in June which is already factored into second-quarter consolidated production guidance of between 100,000 and 110,000 ounces of gold. Consistent with full-year 2022 guidance, stacking rates at La Yaqui Grande are expected to ramp up through the second half of the year driving production higher and costs lower at Mulatos and company-wide starting in the third quarter.