Alamos also reported a decrease of $40 per ounce, or 7%, in Island Gold’s 2020 total cash cost guidance to between $480 and $520. The company listed a $40-per-ounce decrease in mine-site all-in sustaining cost guidance to between $740 and $780 per ounce.
The company’s consolidated total cash costs – for all operations – were trimmed by $13 an ounce to between $757 and $797, compared to $770 to $810 previously.
“The acquisition of the royalty further reduces costs at what is already a low-cost operation while also increasing our exposure to the tremendous exploration upside,”said John A. McCluskey, president and chief executive officer.