Welcome to our dedicated page for Alamos Gold news (Ticker: AGI), a resource for investors and traders seeking the latest updates and insights on Alamos Gold stock.
Alamos Gold Inc. reports operating and financial developments for a Canadian-based intermediate gold producer with mines in North America. Its recurring updates cover gold production, sales, costs and cash flow from the Island Gold District and Young-Davidson mine in northern Ontario and the Mulatos District in Sonora, Mexico.
Company news also includes Mineral Reserves and Resources, NI 43-101 technical reporting for the Island Gold District Expansion, growth projects such as the IGD Expansion and Lynn Lake, shareholder meetings, annual filings, dividends and dividend reinvestment plan actions.
On December 22, 2022, Alamos Gold (AGI) announced a deal to sell a portfolio of non-core royalties to Metalla Royalty & Streaming Ltd. for USD $5.0 million in common shares. The portfolio includes three royalties and a silver stream from projects not owned by Alamos, valued at USD $5.3228 per share. This transaction aligns with Alamos’ strategy to maximize non-core asset value, contributing nearly $100 million in total consideration from asset sales over two years. Post-sale, Alamos will hold 1.9% of Metalla's shares.
Alamos Gold Inc. (TSX:AGI; NYSE:AGI) has received acceptance from the Toronto Stock Exchange for a Normal Course Issuer Bid to repurchase up to 34,670,378 Class A Common Shares, amounting to 10% of the public float as of December 14, 2022. The bid will run from December 24, 2022, to December 23, 2023. Previously, the company repurchased 1,100,000 shares at an average price of C$9.55. This move aims to enhance shareholder value and reflects the company's belief that its shares are undervalued.
Alamos Gold Inc. (TSX:AGI; NYSE:AGI) announced the tragic death of an employee due to an underground accident at the Young-Davidson mine. The company expresses profound shock and sorrow, emphasizing the importance of employee safety. Alamos is cooperating with local authorities and initiating an internal investigation while providing support to the affected family and individuals. Alamos Gold operates three mines in North America and is dedicated to sustainable development.
Alamos Gold Inc. (TSX:AGI; NYSE:AGI) announced significant results from exploration drilling at the Island Gold mine, revealing high-grade gold mineralization across various zones. Key findings include:
- C-Zone: 97.21 g/t Au over 5.05 m
- B-Zone: 525.28 g/t Au over 2.33 m
- Island East: 110.17 g/t Au over 7.79 m
With exploration spending at $17.9 million year-to-date, the company aims to expand its Mineral Reserves and Resources, now exceeding five million ounces of gold.
Alamos Gold has declared a quarterly dividend of US$0.025 per common share, payable on December 20, 2022, to shareholders of record as of December 6, 2022. The company has consistently paid dividends for 13 years, returning $285 million to shareholders, including $48 million in 2022 alone. Additionally, Alamos has introduced a dividend reinvestment plan, allowing shareholders to reinvest their dividends at a 3% discount to the market price.
Alamos Gold (AGI) reported significant results from surface exploration at Puerto Del Aire, enhancing high-grade gold mineralization beyond existing reserves. Key findings include multiple intercepts exceeding current reserve grades, with standout results from zones PDA1 and PDA2, such as 32.24 g/t Au over 5.30 m. With a historical mine life extended since 2005 and 2.5 million ounces produced, the ongoing drilling (57 holes, 17,788 m) indicates strong potential for further high-grade reserves. The new results will inform a development plan expected by Q3 2023.
Alamos Gold Inc. (AGI) reported strong third-quarter results for 2022, achieving its highest gold production in nearly two years at 123,400 ounces, a 19% increase from the second quarter. The company expects to meet its full-year production guidance of 440,000 to 480,000 ounces. Significant cash flow was driven by La Yaqui Grande operations. Total cash costs decreased 8% to $868 per ounce. Adjusted net earnings for the quarter were $26.9 million, or $0.07 per share. Despite a net loss of $1.4 million, the company ended the quarter with $116.7 million in cash and no debt, reinforcing a strong liquidity position.
Alamos Gold Inc. (TSX:AGI; NYSE:AGI) will release its third quarter 2022 financial results on October 26, 2022, after market close. A conference call will follow on October 27, 2022, at 10:00 am ET, where management will discuss the results. Participants can access the call via a webcast or by dialing provided numbers. Alamos operates three mines in North America and is dedicated to sustainable development, employing over 1,900 people. Shares are traded under the symbol AGI.
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Alamos Gold Inc. (TSX:AGI; NYSE:AGI) has declared a quarterly dividend of US$0.025 per common share, payable on September 29, 2022, to shareholders recorded by September 15, 2022. The company has consistently paid dividends for 13 years, returning $275 million to shareholders, including $38 million in 2022. A dividend reinvestment plan (DRIP) will allow shareholders to receive shares at a 2% discount instead of cash. Alamos operates three mines in North America and maintains a commitment to sustainable development.