Alamos Gold Cuts Q2 Output to 130,000-135,000 Ounces as Earthquake Damage Sinks Shares 20%
Updated
Updated · Bloomberg · Jun 19
Alamos Gold Cuts Q2 Output to 130,000-135,000 Ounces as Earthquake Damage Sinks Shares 20%
3 articles · Updated · Bloomberg · Jun 19
Summary
Alamos Gold cut second-quarter production guidance to 130,000-135,000 ounces after earthquakes damaged a key mine, reducing the midpoint of its prior forecast by 12%.
Shares fell as much as 20% in Toronto on Friday, the Canadian miner’s biggest intraday drop since 2020, as investors reacted to the lower output outlook.
The guidance cut was disclosed a day earlier, tying the weaker production forecast directly to operational disruption at one of the company’s important mines.