Alamos Gold Stock Price, News & Analysis

Alamos Gold Inc. (AGI) will release its second quarter 2021 financial results after market close on July 28, 2021. A conference call will be held on July 29, 2021, at 10:00 am ET to discuss the results. Participants can join via webcast or by calling the provided numbers. Alamos operates three gold mines in North America and has a diverse portfolio of development projects across multiple countries. The company employs over 1,700 individuals and focuses on sustainable development.

Alamos Gold Inc. (AGI) reported new high-grade gold exploration results from the Island Gold mine, highlighting significant extensions to mineralization. Island East saw gold mineralization extended 20 m, with impressive drill results including 71.21 g/t Au over 21.33 m. The 2021 exploration budget increased to $25 million, focusing on mineral resource definition and regional targets. As of May 31, 2021, significant drilling progressed with assays pending. The company anticipates further resource growth, driven by these successful exploration results.

Alamos Gold Inc. (AGI) announced a quarterly dividend of US$0.025 per share, payable on June 30, 2021, to shareholders on record by June 16, 2021. With this announcement, the company highlights its commitment to returning value to shareholders, having paid out $208 million over the past 12 years through dividends and share buybacks. Alamos also introduced a Dividend Reinvestment Plan (DRIP), allowing shareholders to reinvest dividends at a 3% discount to market prices. This dividend qualifies as an eligible dividend for Canadian income tax purposes.

Alamos Gold Inc. (TSX:AGI; NYSE:AGI) held its Annual General Meeting on May 27, 2021, reporting 300,039,544 shares voted, representing 76.40% of total outstanding shares. The meeting confirmed the election of all nominated directors, including Elaine Ellingham (87.89% approval) and David Fleck (86.46% approval). The Company also appointed KPMG LLP as its auditor, passing with 99.63% approval. The advisory resolution on executive compensation was approved with 98.10%. Ronald E. Smith retired from the Board, recognized for his contributions since 2015.

Alamos Gold reported strong Q1 2021 results, achieving gold production of 125,800 ounces, exceeding guidance by 14%. The Young-Davidson and Island Gold operations set records, contributing to revenues of $227.4 million with an average realized price of $1,798 per ounce. The company generated $9.9 million in free cash flow, with cash balances reaching $238.2 million. Production outlook remains positive, but a $1 billion treaty claim against Turkey was filed, anticipating an impairment charge of $215 million. Overall, the company shows strong operational performance amidst ongoing growth initiatives.

Alamos Gold (AGI) plans to file a treaty claim exceeding $1 billion against Turkey due to expropriation related to its Turkish gold mining project. This follows the Turkish government's refusal to renew mining licenses, impacting over $500 million in future economic benefits and leading to a $215 million impairment charge. Alamos has invested over $250 million in Turkey, contributing significantly to local economies, but claims the government has not provided reasons for the non-renewal or engaged in negotiations. The legal process is expected to take up to five years.

On April 9, 2021, Alamos Gold Inc. (TSX:AGI; NYSE:AGI) announced it acquired 15,900,000 common shares of Manitou Gold Inc. for C$0.08 per share, totaling 2.5% of Manitou's outstanding shares. Post-transaction, Alamos will hold 62,731,077 shares, or 19.96%, assuming warrant exercise. This investment aims to influence strategic decisions at Manitou, as Alamos retains rights under an Investor Rights Agreement. The transaction is subject to regulatory approvals and further details will be filed in compliance with Canadian regulations.

Alamos Gold Inc. (TSX:AGI; NYSE:AGI) will release its first quarter 2021 financial results on April 28, 2021, followed by a conference call on April 29, 2021, at 11:00 am ET. The Annual Meeting of Shareholders is scheduled for May 27, 2021. The meeting will be virtual due to COVID-19, starting at 4:00 pm ET. Shareholders will receive detailed participation instructions. Alamos operates three mines in North America and has a diverse portfolio of development projects, emphasizing sustainable development.