Click to access nr_20170706.pdf

July 6, 2017, Vancouver, BC – Alio Gold Inc (TSX, NYSE MKT: ALO) (“Alio Gold” or the “Company”), formerly Timmins Gold Corp., is pleased to report preliminary production results from its 100% owned San Francisco Mine in Sonora, Mexico for the Company’s second quarter (“Q2”) ended June 30, 2017.
“The San Francisco mine had another strong quarter, exceeding the upper end of our production guidance range of 20,000 to 22,000 ounces for Q2 with 22,011 ounces produced and 21,495 ounces sold,” said Greg McCunn, Chief Executive Officer. “Our balance sheet remained strong throughout the quarter with approximately $35 million in cash on hand as at June 30, 2017, as we continued to invest the majority of the cash flow from operations into advancing our high-grade, low cost Ana Paula Project in Guerrero, Mexico. With the  recently announced CAD$50 million equity financing expected to close on or about July 20, 2017, our balance sheet will be further strengthened, allowing us to continue to advance the development at Ana Paula, including completion of a definitive feasibility study, change of land use permitting, surface exploration drilling and development of an underground decline for exploration below the proposed open pit.”

Leave a Reply