TORONTO - Alamos Gold Inc. (TSX:AGI) reported Thursday a second-quarter profit of $6.2 million, up from $1.9 million a year ago, as sales increased more than 50 per cent.
The gold miner with operations in Mexico said the profit amounted to six cents per diluted share for the three months ended June 30 compared with a profit of two cents per share a year ago.
Gold sales in the quarter were $32.3 million, up from $20.8 million.
Gold production in the quarter was 38,500 ounces, an increase of 37 per cent over gold production of 28,200 in the second quarter of 2007.
Sales in the quarter of 2008 increased 15 per cent to 35,482 ounces from 30,880 ounces a year ago.
Total production costs were $543 per ounce, up from $490 per ounce a year ago, while the realized gold price was $911 per ounce, up from $674.
The company is forecasting gold sales and gold production of 32,000 ounces for the third quarter of 2008.
Shares in the company, which reported its results after the close of markets, were down 25 cents at $6.60 on the Toronto Stock Exchange on Thursday.
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