Business
Minera Alamos Inc. Provides Operations Update and Q2 Financials
Toronto, Ontario--(Newsfile Corp. - August 30, 2023) - Minera Alamos Inc. (TSXV: MAI) (the "...
About this update from Minera Alamos Inc.
[{"type":"text","content":"Minera Alamos Inc. Provides Operations Update and Q2 FinancialsToronto, Ontario--(Newsfile Corp. - August 30, 2023) - Minera Alamos Inc. (TSXV: MAI) (the \"Company\" or \"Minera Alamos\") is pleased to provide an operations update and select financial highlights from the second quarter of 2023 as well as some guidance regarding improved operations activity so far during Q3. For a full overview please refer to the Q2 Financial Statements and MD&A filed on Sedarplus.ca on August 29th, 2023.\"As outlined earlier in 2023, the first half of the year at the Santana project saw a focus on development and infrastructure activities scheduled in advance of a planned improvement in mining operations in the second half of 2023. Since June mining and stacking operations have been increasing steadily as our mine contractor scaled up equipment and staffing levels at site.\" stated Darren Koningen, CEO. \"A prudent overall approach to mining operations has been implemented in recent quarters as the Company worked its way through the end of a difficult 3-year regional drought that significantly inhibited our ability to be more aggressive with production rates. We are pleased to report that more typical weather patterns appear to have re-emerged in 2023. The Company is currently preparing for new pad construction late in the year following the end of the current rainy season which is expected to coincide with the receipt of permit amendments allowing us to facilitate a significant expansion of both mining and gold stacking operations and lead to a much more stable production outlook next year and onwards.\"*Estimate for SeptemberTo view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/4183/178963_597bb54174ad7b41_002full.jpgQ2 Operational HighlightsAt the Santana gold mine, the Company's mining contractor scaled up their equipment and workforce during April and May following the shift from development activities earlier in the year towards more normal production levels activities in the second half of the year. Consequently, some of the material identified in current short term mine plans was shifted into the early months of Q3 (see Q3 Operational Highlights below).Strip ratios (waste:mineralized material) in the first half of 2023, were maintained at under 2:1 during mining operations (excluding additio...