Alio Gold Inc. T.ALO

Alio Gold Fourth-Quarter Loss Widens As Production

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Costs Leap 2019-03-13 08:16:43 AM ET (MT Newswires)

08:16 AM EDT, 03/13/2019 (MT Newswires) -- Alio Gold (ALO.TO) on Wednesday said its fourth-quarter loss widened as costs jumped despite higher gold and silver and gold production. The company said it lost $16.84 million, or $0.20 per share, compared to a loss of $2.85 million, or $0.06, in the fourth quarter of 2017. Revenue rose 31% to $27.02 million but production costs more than doubled to $40.46 million from $16.86 million. Alio said the rise in costs came on higher costs at its Florida Canyon mine and lower quality ores at its San Francisco mine, which pushed up processing costs. . The company's gold sales rose 34% to 21,985 ounces. Alio shares closed Tuesday up $0.01 to $1.12 on the Toronto Stock Exchange. Price: 1.1200, Change: +0.0100, Percent Change: +0.90