Alamos gold shares plunge on output cut after earthquake at mine (opens original article in a new tab)

Alamos Gold shares dropped 20% after earthquakes damaged a mine, leading to reduced production guidance and higher costs.

• Two seismic events damaged Alamos Gold's Young-Davidson mine in Ontario, restricting access to high-grade ore.
• Alamos Gold cut its second-quarter production guidance by 12% to 130,000-135,000 ounces due to mine damage.
• Alamos Gold shares fell 20% in Toronto following the production cut announcement.
• The company expects annual output to fall below previous guidance and costs to rise.