Alamos Gold Predicts Lower Full-Year Production

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Alamos Gold Inc has released a few numbers, forecasting “lower full-year production and higher cash costs as output from its high-grade Escondida deposit in Mexico winds down,” reports Reuters.

“Alamos shares fell as much as 15 percent on the Toronto Stock Exchange as well as the New York Stock Exchange in early trading on Thursday.”

“The miner, which operates in Mexico, Turkey and United States of America, said it expects the Escondida deposit to be depleted by the first quarter of this year.”

“Alamos forecast 2014 production to fall to 150,000-170,000 ounces of gold from 190,000 ounces in 2013.”

In metal price news for precious metals…

Today marks the fifth day in a row of declining prices for Japanese platinum bar. After falling 0.5 percent, driving an accelerated drop-off since Friday, January 10. US platinum bar held its value on Thursday.

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After falling for two days, the price of Chinese palladium bar rose 0.6 percent. The price of US palladium bar rose 0.5 percent after a two-day drop. The price of Japanese palladium bar was essentially unchanged.

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The price of US gold bullion declined 0.2 percent. Japanese gold bullion saw its price rise 0.1 percent. The price of Chinese gold bullion remained steady. Indian gold bullion saw little change in its price yesterday.

The price of US silver fell 0.3 percent. Indian silver prices rose 0.2 percent. Chinese silver prices saw a 0.1 percent decline. The price of Japanese silver remained essentially flat.