05:33 PM EDT, 09/12/2024 (MT Newswires) -- Alamos Gold ( AGI ) was up 1.5% in after-hours New York trading after company late Thursday updated its three-year production and operating forecast to include the recent Magino mine acquisition and raised production guidance for the Mulatos District for the year.

For 2024, the company's production guidance for existing operations has been raised by 4% due to better performance at La Yaqui Grande. Production forecasts for 2025 and 2026 remain unchanged. Cost guidance is largely unchanged, with a slight increase expected for 2024.

The outlook for consolidated gold production for 2024 was updated to 550,000 to 590,000 ounces from 485,000 to 525,000 ounces, for 2025 to 575,000 to 625,000 ounces from 470,000 to 510,000 ounces, rising to 630,000 to 680,000 ounces in 2026 from 520,000 to 560,000 ounces.

The company acquisition of Magino mine in Ontario led to a 13% increase in 2024 consolidated production guidance and more than a 20% rise in the forecasts for 2025 and 2026. The All-in Sustaining Cost (AISC) guidance has increased by 11% over the three years due to Magino's relatively higher costs, the company said, adding that its AISC is set to stay below the industry average and decrease over time, driven by low-cost production growth at Island Gold and ongoing improvements at Magino.

Alamos shares were last seen up $0.29 to US$20.35 after hours. They closed up $1.62 to $27.27 on the Toronto Stock Exchange.