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.
Alamos Gold Inc. reported record free cash flow of $76 million for Q3 2020, leading to a 33% increase in its dividend to US$0.08 per share. The company produced 117,100 ounces of gold, marking a 49% increase from the previous quarter. Operating revenues reached $218.4 million, with adjusted net earnings of $56.9 million or $0.15 per share, representing a 143% increase year-over-year. The company is now debt-free and expects continued strong cash flow, supporting future growth projects and returns to shareholders.
Alamos Gold Inc. (TSX:AGI; NYSE:AGI) will announce its third quarter 2020 financial results on October 28, 2020, after market close. A conference call is scheduled for October 29, 2020, at 10:00 am ET for management to discuss the results. Interested participants can join the call by calling (416) 340-2216 or (800) 273-9672 within Canada and the U.S., or access via webcast at www.alamosgold.com. A playback will be available until November 29, 2020, using the provided dial-in information.
Alamos Gold Inc. (TSX:AGI; NYSE:AGI) announced new surface exploration drilling results from the Island Gold Mine, showcasing significant high-grade gold mineralization extending 100 meters down-plunge. Key results include drill intersections of 28.97 g/t Au over 21.76 m and 15.38 g/t Au over 15.02 m, indicating a widening of the high-grade zone. The surface drilling program resumed in June 2020, with 16,660 m completed as of September 15, 2020. The results support ongoing exploration and potential growth in Mineral Reserves and Resources, aligning with the Phase III Expansion plans.
Alamos Gold Inc. (TSX:AGI; NYSE:AGI) has declared a quarterly dividend of US$0.015 per common share, payable on September 30, 2020, to shareholders of record by September 16, 2020. This marks 11 consecutive years of dividend payments, totaling $179 million returned to shareholders through dividends and buybacks. The company also introduced a dividend reinvestment plan allowing shareholders to purchase shares at a 3% discount to the market price. This dividend qualifies as an eligible dividend for Canadian tax purposes.
Alamos Gold Inc. has appointed Scott R.G. Parsons as its new Vice President of Exploration, succeeding Chris Rockingham, who retired on August 31, 2020. Parsons has over 15 years of experience in senior exploration roles and has been integral to Alamos's exploration efforts since joining in January 2018. His previous roles include significant positions at TMAC Resources and Northern Superior Resources. Alamos is a Canadian-based intermediate gold producer with diversified operations across three mines in North America and a robust portfolio of development projects.