05:30 PM EST, 01/13/2025 (MT Newswires) -- Alamos Gold ( AGI ) after trade Monday reported fourth quarter and annual production and provided an updated three-year production and operating outlook.

In the fourth quarter, total gold production was 140,200 ounces, an increase from 129,500 ounces in the same quarter of 2023. For the full year, the company produced 567,000 ounces of gold, up from 529,300 ounces in 2023.

The revised guidance for total gold production in 2024 was between 550,000 and 590,000 ounces, compared to the original guidance range of 485,000 to 525,000 ounces, the company added.

The company also updated its three-year guidance for total gold production. For 2025, the expected production is between 580,000 and 630,000 ounces, slightly higher than the previous range of 575,000 to 625,000 ounces. In 2026, production is projected to be between 630,000 and 680,000 ounces, which remains unchanged from the previous forecast. For 2027, the expected production is between 680,000 and 730,000 ounces.

"With the solid finish to the year, we met both our quarterly and increased annual production guidance," Chief Executive John McCluskey said, adding that "this investment in growth is expected to drive our production 24% higher over the next three years. We are also pleased to announce the start of construction on Lynn Lake, another attractive project that will provide additional growth into 2028."

Alamos shares closed down $0.59 to $27.55 on the Toronto Stock Exchange.