Alamos Gold (TSE:AGI) Earnings Up 59 Percent

Alamos Gold (TSE:AGI) reported earnings for the first quarter increased 59 percent to $14 million, up from $8.8 million last year in the same quarter.

Overall revenue rose to $46.7 million, a gain of 31 percent.

Production at their Mulatos gold mine in Mexico generate 41,600 ounces, lower than last year because of the installation of a closed-circuit crushing system which caused the mine to be idle for a period of time.

Guidance is still maintained by Alamos from between 160,000 ounces to 175,000 ounces, at a cash cost of $338 an ounce.

Operating costs were good for the company, coming in at $268 an ounce.

The company has no debt at this time.