Alamos ups its reserves

Article Excerpt

ALAMOS GOLD $5.99 (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. Alamos reported a significant increase in reserves at its Island mine. That was after it calculated the results for its drilling program in the first half of this year. It now says the deposit holds up to 1.18 million ounces of gold, or 29.9% more than the previoulsy estimated 908,000 ounces. The company conducted a total of 65,500 metres of drilling across 432 holes during the first half of the year. Another 84,000 metres are budgeted for the second half of 2018. The objective is to further boost reserves at the mine. Alamos Gold is a buy. buy…