Alamos (AGI) (ABG) (CLF) (GUY) (AUY) (PAAS) (SSRI) Ratings Changes

Alamos Gold (AGI), African Barrick Gold (ABG), Cliffs Natural Resources (CLF), Guyana Goldfields (GUY), Yamana Gold (AUY), Pan American Silver Corp (PAAS) and Silver Standard Resources (SSRI) had ratings on them changed by analysts.

Investec upgraded African Barrick Gold (ABG) to a "Buy" rating.

Deutsche Bank upgraded Cliffs Natural Resources (CLF) from a "Hold" rating to a "Buy" rating. They have a price target of $48.00 on the company.

RBC Capital upgraded Guyana Goldfields (GUY) from a "Sector Perform" rating to an "Outperform" rating. They have a price target of $6.00 on the company.

Davy downgraded Yamana Gold (AUY) from an "Outperform" rating to a "Neutral" rating.

Deutsche Bank downgraded Pan American Silver (PAAS) from a "Buy" rating to a "Hold" rating. They have a price target of $20.00 on the company.

Deutsche Bank downgraded Silver Standard Resources (SSRI) from a "Hold" rating to a "Sell" rating. They have a price target of $12.50 on the company.

Gold Futures Soar to Record $1,684.70 An Ounce

Gold futures jumped to another record today, reaching as high as $1,684.70 in morning trading, as investors continue to pour their money into the safety of the yellow metal.

Gold futures for December delivery climbed $12.70, or 0.8 percent, to $1,679 at 10:29 A.M. on the Comex in New York after earlier reaching the record amount. This is the third day in a row gold has broken records.

The misguided actions of American politicians to raise the debt ceiling will increase the pace at which the U.S. dollar will eventually stop being the reserve currency of the world.

Even with the outrageous quantitative easing of the Federal Reserve and the Obama administration, the recession continues, no jobs have been created, and the value of the U.S. dollar continues to plunge. Gold will continue to rise in price under these conditions.

Gold miners, which have largely been lagging the upward price move of gold, show signs of beginning to be rewarded, as recent quarterly reports from Alamos Gold (TSX:AGI) and Yamana Gold (NYSE:AUY) seem to reveal that may be over. Most of this is in direct relationship to rising gold prices, as input costs have risen.

Even so, gold miners are getting punished today, as majors like Newmont Mining (NYSE:NEM), Goldcorp (NYSE:GG) and Barrick Gold (NYSE:ABX) are all trading down between 3 to 5 percent.

Silver Wheaton (SLW) (HL) (AEM) (AGI) Upgraded by Cannacord

Canaccord Genuity analyst Steven Butler raised his ratings on Silver Wheaton (NYSE:SLW), Alamos Gold Inc. (TSE:AGI), Agnico-Eagle Mines Limited (NYSE:AEM) and Hecla Mining (NYSE:HL), while also boosting his price outlook for silver and gold for 2011.

“We continue to believe that macroeconomic conditions favor higher gold and silver prices, including record global liquidity, inflation prospects and low real interest rates, currency debasement on sovereign debt woes and political unrest in the Middle East and North Africa,” Butler wrote in a note.

Butler raised his gold price for 2011 to $1,525 an ounce and for silver to $42. For his peak price scenario, he sees gold jumping to $1,600 and silver to $47.50.

With the exception of Alamos Gold Inc., which was upgraded to "Speculative Buy" from "Hold," the rest of the companies were raised to "Buy."

Alamos was trading in Toronto at $15.93, gaining $0.73, or 4.80 percent. Agnico-Eagle Mines was trading in New York at $67.86, rising $0.42, or 0.62 percent, as of 1:22 PM EDT. Silver Wheaton was at $42.03, up $0.33, or 0.79 percent. Hecla was trading at $9.29, jumping $0.07, or 0.76 percent.

Gold Breaks $1,500 as Centerra (TSE:CG), Alamos (TSE:AGI), Aura (TSE:ORA) and Gabriel (TSE:GBU) Close Mixed

After blowing past the $1,500 an ounce mark on Tuesday, gold prices settled just under the important psychological barrier at $1,495.10, as gold miners Centerra Gold (TSE:CG), Alamos Gold (TSE:AGI), Aura Minerals (TSE:ORA) and Gabriel Resources (TSE:GBU) closed mixed on the day.

Gold prices settled just below $1,500 an ounce after hitting that level earlier Tuesday's session, helped by a weaker dollar.

The gold contract for June delivery rose $2.20 to settle at $1,495.10 an ounce, shy of its all-time and daily high of $1,500.50 an ounce. Spot gold prices dropped 50 cents, to close at $1,495.90 an ounce.

Silver prices for May delivery climbed almost a dollar to settle at $43.91.

Most of this is based upon the collapsing U.S. dollar, which pulled back again today, the tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, inflation concerns and consequences of the Japanese earthquake.

Add to that the warning from rating agency S&P that the U.S. could have its debt downgraded if it doesn't deal with the growing debt crisis and you have a weak macroeconomic outlook favoring gold and other commodities.

Gabriel Resources closed Tuesday in Toronto at $7.04, falling $0.02, or 0.28 percent. Aura Minerals ended the session at $17.68, level with Monday's close. Alamos Gold closed at $14.71, also level with the close on Monday. Centerra Gold closed the day at $17.49, gaining $0.395, or 2.28 percent.

Alamos (AGI) (GBU) (CG) Up, (ORA) Down as Gold, Silver Rise Again

Shares of most gold miners were up as gold soared again Thursday, with Aura Minerals (TSE:ORA), Gabriel Resources (TSE:GBU), Centerra Gold (TSE:CG) and Alamos Gold (TSE:AGI) trading up in Toronto, with the exception of Aura.

Gold for June delivery climbed $16.80 to settle at $1,472.40 an ounce on the Comex division of the New York Mercantile Exchange. Silver jumped $1.427, or 3.6 percent, to $41.664 an ounce.

The collapsing U.S. dollar, tightening in China, sovereign debt crisis in Europe, unrest in the Middle East, increasing inflation and consequences of the Japanese earthquake are just some of the negative catalysts affecting the price movements.

The U.S. dollar was close to session lows, resulting in a further impetus to gold. The U.S. currency traded as low as 74.617, its lowest level since December 2009.

In base metals trading, May copper dropped 1.05 cents to settle at $4.284 a pound, July platinum increased $18.40 to $1,795.60 an ounce and June palladium was up $8.95 to $774.25 an ounce.

Alamos Gold closed in Toronto Thursday at $14.25, gaining $0.62, or 4.55 percent. Centerra Gold closed at $17.41, up $0.27, or 1.58 percent. Gabriel Resources ended the session at $7.20, rising $0.28, or 4.05 percent. Aura Minerals closed down at $2.92, falling $0.08, or 2.67 percent.

Gold Miners (RGLD) (ANV) (AGIGF) (AZK) Surge on Record Gold Prices

Gold companies Royal Gold (Nasdaq:RGLD), Allied Nevada Gold (AMEX:ANV), Alamos Gold (OTC:AGIGF.PK) and Aurizon Mines (AMEX:AZK) soared on Tuesday as gold prices rose to $1,455.50 an ounce to attain a record high.

Gold for June delivery jumped $19.50, or 1.4%, to $1,452.50 an ounce on the Comex division of the New York Mercantile Exchange.

Continuing unrest in the Middle East, the EU sovereign debt crisis, Japan's struggle and political uncertainty in the United States is the major impetus behind the action.

The thought that Federal Reserve Chairman Ben Bernanke won't stop printing money is also a relevant factor behind the continuing rise in gold prices.

Aurizon Mines closed Tuesday at $7.14, gaining $0.41, or 6.09 percent. Alamos Gold closed at $16.36, rising $0.66, or 4.20 percent. Allied Nevada Gold closed at $40.31, up $2.64, or 7.01 percent. Royal Gold ended the session at $53.27, increasing $1.17, or 2.25 percent.

Alamos Gold's (TSE:AGI) Mulatos Mine Has Production Loss of 5% in Q4

Alamos Gold (TSE:AGI) has bad news for shareholders as its flagship Mulatos Mine in Mexico has a loss in production in the fourth quarter of 5 percent.

That didn't even reach the low end of estimates of 160,000-175,000 ounces of gold produced for the all of 2010, ending at only 156,000 ounces. For the quarter it fell from 48,000 ounces in 2009 to 45,800 ounces in 2010.

Chief Executive Officer John McCluskey said in a statement, "Operationally, 2010 was a very challenging year at the Mulatos Mine."

Taking that together with the other bad news released last month that as measured by ounce, the cash operating costs for 2011 will be higher, and the company will experiencing lower grades as well.

Production for Alamos is expected to remain flat throughout 2011.

Alamos Gold (TSE:AGI), IAMGOLD (NYSE:IAG), Fronteer Gold (AMEX:FRG) Shares Skyrocket on Record Gold Prices

Alamos Gold (TSE:AGI), IAMGOLD (NYSE:IAG), Fronteer Gold (AMEX:FRG) moved up strongly in share price as the gold prices soared to record levels in response to the new round of inflating the money supply, or quantitative easing, as the Fed likes to call it now.

Spot gold prices soared to over $1,390 as the trading session approached its closing moments, up by $42.50.

The gold miners, and other miners as well, soared in response to the actions of the Federal Reserve, and should find support as the money is released into the economy over the next several months.

Alamos (TSE:AGI) Increases Semi-annual Dividend

Alamos Gold (TSE:AGI) increased its semi-annual dividend again, bumping it up by 17 percent.

In April the company declared a dividend of 3 cents a share, and it was increased to 3.5 cents a share now.

CFO John Morda said in a statement, "This dividend increase reflects our balance sheet strength, increased realised gold sale prices, and our continued ability to generate strong cash flows from operations.”

Gold production for Alamos comes from its Mulatos mine, in Mexico. They also acquired Agi Dagi and Kirazli, both located in Turkey earlier in the year from Teck Resources (NYSE:TCK) and Fronteer Development Group (AMEX:FRG).

Alamos Gold (TSE:AGI) Earnings Down on Lower Production

Alamos Gold (TSE:AGI) earnings dropped about 7 percent on lower production in the quarter, missing analysts' estimates.

Earnings in the second quarter reached $12.1 million, or 10 cents a share, down from $13 million, or 12 cents a share last year in the same quarter.

Analysts had expected on average for Alamos to earn 12 cents a share, excluding one-time charges.

As expected, revenue increased 13 percent, coming in at $47.5 million. The higher revenue was from gold prices rising 30 percent in the quarter.

Alamos had to have had a margin and cost problem, as the higher gold prices should have pushed their earnings up, even with the lower production, which was primarily the result of delays and drought at their flagship Mulatos mine in Mexico.

Going forward, Alamos kept its full-year production estimates of 160,000 ounces to 175,000 ounces, saying production should increase in the second half.

Centerra (TSE:CG), Alamos (TSE:AGI), and IAMGOLD (NYSE:IAG) Up with Gold Price, Newmont (NYSE:NEM) Down

Continuing its incremental climb up, gold prices continue to rise today, ready to be in the positive for the fifth straight trading day. Centerra Gold (TSE:CG), Alamos Gold (TSE:AGI), and IAMGOLD Corporation (NYSE:IAG) all moved up, while gold major Newmont Mining (NYSE:NEM) was slightly down or around level throughout the day.

Of these four gold miners, IAMGOLD Corporation has been the best performer of the day, reaching $16.08, a gain of $0.50, or 3.21 percent at 3:44 PM EDT.

Centerra Gold wasn't far behind IAMGOLD, coming in at $13.33, a gain of $0.36, or 2.78 percent. Centerra was back in the black in the last quarter, returning to a profit.

Alamos Gold rose to $15.55, gaining $0.08, or 0.52 percent.

Newmont was down to $55.49, falling $0.11, 0.20 percent at 3:49 PM EDT. That seems to be because investors are looking for smaller gold miners at this time, although the majors have been doing pretty well lately.

Kinross (NYSE:KGC), Yamana (NYSE:AUY), Gold Fields (NYSE:GFI), Randgold (Nasdaq:GOLD), Reporting Earnings This Week

We continue earnings season this week, and a number of gold miners and other mining companies are ready to report this week. Here's a list of some of the major companies reporting this week.

August 3

Red Back Mining (TSE:RBI) - Reporting Before Market Opens

TOR Minerals International Inc (Nasdaq:TORM) - After Market Closes

August 4

Kinross Gold (NYSE:KGC) - After Market Close

Alpha Natural Resources (NYSE:ANR) - Before Market Opens

Natural Resources Partners LP (NYSE:NRP) - After Market Closes

Yamana Gold, Inc. (NYSE:AUY) - After Market Closes

August 5

ALAMOS GOLD INC. (TSE:AGI) - Before Market Opens

Canadian Natural Resources (NYSE:CNQ) - Before Market Opens

Gold Fields Ltd. (NYSE:GFI) - 2 A.M.

Randgold Resources Limited (Nasdaq:GOLD) - 2 A.M.

Rio Tinto (NYSE:RTP) - 4:30 A.M.

August 6

Allied Nevada Gold Corp (AMEX:ANV) - Not Available

DENISON MINES CORP.(TSE:DML) - Not Available

NEW GOLD INC.(AMEX:NGD) - Not Available

Silver Standard Resources, Inc (Nasdaq:SSRI) - Before Market Opens

PNM Resources, Inc. (NYSE:PNM) - 8:30 A.M.

Alamos Gold (TSE:AGI), Agnico Eagle (TSE:AEM) Fall with Gold Price Drop

Gold miners are probably all glad the brutal gold correction of last week seems to have taken a breather, as gold prices, along with the price of gold mining shared plunged, and gold miners like Alamos Gold (TSE:AGI) and Agnico Eagle Mines NYSE:AEM)(TSE:AEM) participated strongly in that drop in share price, along with most of their colleagues.

Alamos Gold ended their week on the upswing, gaining 0.41 percent, or 6 cents a share in Toronto. Volume also fell, seeming to imply traders may have taken their profits during the last week, and are for the most part out of the gold market temporarily. That would be good news overall for gold prices and gold miners, which should start to move upward again now that speculators, for now, are largely gone.

Alamos finished the week at $14.87 a share.

Agnico Eagle (TSE:AEM) had a tougher week, dropping 0.35 percent in New York, or $0.20 a share. As usual, volume as measured by percentage and numbers was higher in New York for Agnico, finishing Friday with 3,956,943, up from the 3-month average of 2,994,710. Share price closed the week in New York at 56.56.

In Toronto, Agnico was also down, dropping 1.22 percent, or $0.74 a share. Volume by percentage was much lower than the 3-month average, ending the day at 576,366, down from the 3-month average volume of 821,027. Shares finished the week at $60.09.

Fronteer Gold (TSE:FRG) Profits Up on Gold Project Sales

Fronteer Gold (TSE:FRG) reported a profit for the first quarter, largely on the back of selling two of their gold projects based in Turkey to Alamos Gold Inc (TSE:AGI).

Earnings came in at C$9.8 million, or 8 Canadian cents a share for the quarter as a result, beating analysts' expectations, who had been looking for a loss of 1 cent. Last year in the same quarter the company posted a loss of C$5.5 million, or 6 Canadian cents.

The sale of the two gold projects in Turkey brought the company C$18.4 million. Fronteer had a 40 percent interest in the two mines.

Over the last three months Fronteer has made a nice upward move of about 30 percent.

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.

Golden Star Resources (AMEX:GSS) and Dividends

Golden Star Resources

A growing number of gold and silver mining companies have started to offer dividends to their shareholders as precious metal producers continue to grow strong profits. Golden Star Resources (AMEX:GSS) is rumored among those companies which may be one of the next mining companies to offer a dividend to their shareholders.

Others already offering dividends include Harmony Gold Mining, Kingsgate Consolidated, Alamos Gold and Lihir Gold, among others.

It wouldn't be surprising to see Golden Star Resources include a dividend for their shareholders, as the company has drawn a lot of interest recently, and that would be a nice addition to attract even more investors.

Alamos Gold Inc. Reports Strong Fourth Quarter and Full Year 2008 Production and Provides 2009 Operating Forecast

TORONTO, ONTARIO - Alamos Gold Inc. (TSX: AGI) ("Alamos" or the "Company") announces fourth quarter gold production of 39,347 ounces, achieving the top end of the Company's quarterly production guidance of 35,000 to 40,000 ounces. Full year 2008 gold production of 151,000 was 42% higher than gold production of 106,200 ounces in 2007. The calculation of total cash costs for the fourth quarter and full year 2008 have yet to be finalized. However, the Company expects that total cash costs for the fourth quarter will be significantly below previous guidance of $395 per ounce, and that total cash costs for 2008 will be approximately $400 per ounce.

The Company is also pleased to report that it began drum agglomeration ahead of schedule in late December. The drum agglomeration process is expected to improve leach pad percolation and increase gold recoveries.

John A. McCluskey, President and Chief Executive Officer stated, "In 2008, Alamos has been successful at delivering on what we promised. We've now had six consecutive quarters of meeting or exceeding our production and cost guidance. We are exiting 2008 at a quarterly production rate of almost 40,000 ounces and our total cash costs are decreasing as a result of higher recoveries and a weaker Mexican peso. These factors, combined with our strong balance sheet, with no debt and over $40 million in cash, provide us with significant resources to grow the Company through internal expansion at Mulatos and strategic acquisitions".

In 2009, the Company is forecasting gold production of 145,000 to 160,000 ounces from the Mulatos mine at a total cash cost (including the 5% royalty) of $350 per ounce.

The following key assumptions form the basis for the 2009 production budget:

- Recoveries of 60%

- Crusher throughput average 13,400 tonnes of crushed ore per day

- Grade of 1.60 grams per tonne of gold ("g/t Au")

- Waste-to-ore ratio of 1.3:1

- Mexican Peso:USD foreign exchange rate of 12.6:1

Significant capital expenditures for 2009 include approximately $9 million to close the existing crushing circuit. This project is expected to further improve gold recoveries to the 65%-plus level. Other sustaining capital is expected to total approximately $10 million. The 2009 exploration budget is $7 million and will focus on definition drilling at Cerro Pelon, Puerto del Aire and Gap, step-out drilling at San Carlos and Phase I drilling at El Carricito.

The Company expects to announce a decision with respect to construction of a mill to process high-grade ore in the first quarter of 2009. As a result of the decision to close the crushing circuit to increase recoveries from the heap leach operation to the 65%-plus range, the incremental benefit of constructing a mill capable of processing various ore types has been substantially reduced. Accordingly, the Company expects that it will select a lower cost milling option to focus primarily on processing high-grade ore at Escondida, at a total capital cost of approximately $45 million (including $25 million in waste removal costs). The Company expects that it will be able to finance construction of the mill out of operating cash flows.

A revised global mine development plan and reserve and resource update will be announced in the first quarter of 2009. The Company expects these to result in significantly extending the life of the Mulatos mine.

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. "Total cash costs" as used in this analysis is a non-GAAP term typically used by gold mining companies to assess the level of gross margin available to the Company per ounce of gold 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 "total cash costs" as determined by the Company compared with other mining companies. In this context, "total cash costs" reflects the per ounce cash operating costs allocated from in-process and dore inventory associated with ounces of gold sold in the period, plus applicable royalties. "Total cash costs" may vary from one period to another due to operating efficiencies, waste-to-ore ratios, grade of ore processed, gold recovery rates and gold prices during 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 forecast gold production, gold grades, recoveries, waste-to-ore ratios, total cash costs, potential mineralization and reserves, exploration results, 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 mining and processing of mined ore, achieving projected recovery rates, anticipated 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.

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© MarketWire 2009