VANCOUVER, British Columbia, Jan. 11, 2018 (GLOBE NEWSWIRE) -- Alio Gold Inc (TSX,:ALO) (NYSE AMERICAN:ALO) (“Alio Gold” or the “Company”), announces preliminary production results from its 100% owned San Francisco Mine in Sonora, Mexico for the Company’s fourth quarter (“Q4”) and full-year ended December 31, 2017. The Company expects to release its full financial and operational results on February 21, 2018 and will host a conference call that same day (details at the end of this release).
Highlights
- Produced 16,070 ounces of gold in the fourth quarter 2017
- Achieved revised gold production guidance with 83,558 ounces produced in 2017
“2017 was a pivotal year for the San Francisco mine as we took key steps to revitalize the mine,” said Greg McCunn, Chief Executive Officer. “With the San Francisco main pit now open across multiple mining faces and a full contract mining fleet on site, we are well positioned to deliver consistent production results this year. As our new systems and processes take hold and production levels stabilize, we will be shifting our focus to cost reduction and getting the mine running as efficiently as possible. Production and cost guidance for 2018 is expected to be announced in early February.”
Mining and Processing
| Category | Three months ended December 31 |
Year ended December 31 |
||
| 2017 | 2016 | 2017 | 2016 | |
| Ore Processed (t) | 1,724,150 | 1,917,965 | 7,537,041 | 7,652,642 |
| Average Grade Processed (g/t) | 0.46 | 0.48 | 0.45 | 0.58 |
| Waste Mined (t) | 6,232,422 | 2,733,669 | 18,959,608 | 14,896,386 |
| Total Mined (t) | 7,990,167 | 4,598,076 | 25,956,332 | 22,353,870 |
| Strip Ratio (W:O) | 3.55 | 1.47 | 2.71 | 2.00 |
| Gold Produced (oz) | 16,070 | 25,287 | 83,558 | 100,322 |
| Silver Produced (oz) | 7,873 | 12,994 | 38,911 | 56,326 |
Sales and Revenue
Gold produced and sold during the quarter was 16,070 ounces and 16,067 ounces, respectively. The average selling price realized was $1,274/oz and metal revenues were $20.6 million. The Company had a cash balance of approximately $51.5 million as at December 31, 2017.
| Category | Three months ended Dec 31 |
Year ended Dec 31 |
||
| 2017 | 2016 | 2017 | 2016 | |
| Gold Sold (oz) | 16,067 | 26,012 | 83,211 | 100,480 |
| Realized Gold Price ($/oz) | $1,274 | $1,223 | $1,256 | $1,237 |
Conference Call
The Company will release its 2017 fourth quarter and full-year results prior to the market open on February 21, 2018, followed by a conference call and webcast at 11:00am (EST).
Fourth Quarter and Full Year 2017 Conference Call and Webcast Details:
| Date: | Wednesday, February 21, 2018 | ||
| Time: | 11:00am (EST) | ||
| Toll Free (US and Canada): | (855) 427-9509 | ||
| Toll Free (Outside North America): | (210) 229-8822 | ||
| Conference ID: | 9983338 | ||
| Webcast: | https://edge.media-server.com/m6/p/dukja2jr | ||
| Replay: | To be available at http://www.aliogold.com |
About Alio Gold
Alio Gold is a growth oriented gold mining company, focused on exploration, development and production in Mexico. Its principal assets include its 100%-owned and operating San Francisco Mine in Sonora, Mexico and its 100%-owned development stage Ana Paula Project in Guerrero, Mexico. Located within the highly prospective Guerrero Gold Belt on 56,000 hectares of underexplored land the Ana Paula Project is a high-grade, high margin project currently in the definitive feasibility stage. An underground decline to provide access for an exploration drill program has been initiated targeting the continuation of the high-grade gold mineralization below the proposed pit which has the potential to significantly enhance the robust economics of the project. The Company also has a portfolio of other exploration properties, all of which are located in Mexico.
