Alamos gets green light wins approval

Article Excerpt

ALAMOS GOLD $5.84 (Toronto symbol AGI; TSINetwork Rating: Speculative) (604-681-2802; www.alamosgold.com; Shares outstanding: 266.3 million; Market cap: $2.3 billion; Dividend yield: 0.4%) owns the Mulatos and El Chanate mines in Mexico, and the Young-Davidson and Island mines in northern Ontario. The company has now received the final permit required for the development of its Kirazli gold project in Turkey. The company can now ramp up full-scale construction activities at the site. Initial production should start in 2020. A 2017 feasibility study calls for a $152 million mine, producing 100,000 ounces per year at a cost of $400 U.S. per ounce. Alamos’ debt-free balance sheet, and its prospects for increasing production, give it strong speculative appeal. Alamos Gold is a buy. buy…