Due to the low production costs in Turkey, our company has a pipeline that will bring cash flow

Alamos Gold CEO, owner of 3 mines in Canakkale John mccluskeylikening their investments to a pipeline that will throw dollars into Canada “Our company currently has three projects with the highest income in the world, with the cherry and its successor, the White Mountain and Chamyurt projects. We currently have a pipeline in Turkey that will bring significant cash flow growth to our company due to very low production costs.“At the end of 2020, the world’s gold mines were worth $ 983 an ounce, and the value of Canakkale gold was only $ 447,” he said.

Published weekly According to the newspaper OxygenAlamos Gold has 3 gold mining projects in Canakkale; Cherry, White Mountain and Chamyurt.

Produced 1 million 850 thousand ounces

Cherry: Commercial production period is 5 years. 64 million tons will be excavated during this period. A total of 540,000 ounces of gold will be obtained. The production cost of gold is $ 373 per ounce.

Network mount: The period of commercial production of the mine is 6 years. 110 million tons of gold will be mined and a total of 937,300 ounces of gold will be produced. The final cost of an ounce in the mine is $ 411.

Camyurt: Commercial production period is 4 years. A total of 373,200 ounces of gold will be produced with 47.5 million tons of ore. The final cost is higher than the others and is $ 645.

Alamos’ revenue will reach $ 4 billion

Alamosa Turkey’s short label looks like this: 3 total gold production targets of 1 million 850 thousand ounces in the mine. Gold worth $ 3.2 billion, or $ 1,730 an ounce, will be produced on Wednesday. Alamos’ revenue will reach $ 4 billion, including by-products such as gold ore and silver, which are called “by product” in mining terminology. (In fact, East Biga CEO Ahmet Senturk told Deutsche Welle that the project was worth $ 4 billion.)

Finance in Çanakkale averages $ 447, the world $ 983

According to an article published on the website of the World Gold Council on March 17, 2021, the average “sustainable final value” of gold in the world between October and December 2020 was $ 983 an ounce. From the beginning of 2019, this figure will range from $ 920 to $ 983.

Recall the “sustained final costs” of Alamos’ three mines in Canakkale: $ 373 in Kirazli, $ 411 in Agi Dagi and $ 645 in Chamyurt.

That’s $ 447 in “sustained final costs,” based on the weighted average total production of the three Alamos gold mines in Turkey.

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