Alamos Gold Stock Price, News & Analysis

Alamos Gold Inc. (AGI) has announced the promotion of Greg Fisher to Chief Financial Officer, effective May 1, 2023. Fisher, who has over 20 years of experience in the mining sector and has been with Alamos since 2010, will succeed Jamie Porter, who is leaving to pursue another career opportunity in the mining industry. Porter will assist with the transition until April 28, 2023. Company President and CEO John A. McCluskey highlighted Fisher's strong leadership and financial expertise, anticipating continued growth and profitability for Alamos, which operates three mines in North America and has a portfolio of growth projects.

Alamos Gold Inc. (AGI) announced completion of the Environmental Impact Assessment for the Lynn Lake Gold Project, earning a positive Decision Statement from the Minister of Environment and Climate Change Canada. The Province of Manitoba also issued Environment Act Licenses for associated sites. CEO John A. McCluskey emphasized the project's capacity to boost annual gold production to 800,000 ounces. The company reported a 27% increase in Mineral Reserves to 2.1 million ounces since 2017, with a budget of $5 million for further exploration in 2023, including drilling near the Gordon deposit.

Alamos Gold Inc. (TSX:AGI; NYSE:AGI) has announced a quarterly dividend of US$0.025 per common share, payable on March 30, 2023. This dividend reflects the company's robust history of returning value to shareholders, totaling $294 million over 14 years, including $47 million in 2022. Shareholders of record as of March 16, 2023 will qualify for this dividend. Additionally, Alamos offers a dividend reinvestment plan (DRIP), allowing shareholders to purchase shares at a 3% discount without transaction costs. Enrollment is required by 4:00 PM EST on March 13, 2023.

Alamos Gold has entered into a definitive agreement to acquire all outstanding shares of Manitou Gold, consolidating its ownership and expanding its land package around the Island Gold Mine. This strategic acquisition adds 40,000 hectares of land in the Michipicoten Greenstone Belt, increasing Alamos’ total land package in the area to 55,277 hectares, a 267% increase. The deal offers Manitou shareholders 0.003525 of an Alamos common share for each share, valuing Manitou shares at C$0.05, representing a 95% premium. Alamos aims to enhance exploration potential and maximize mineral resources in the region.

Metalla Royalty & Streaming Ltd. (NYSE American: MTA) has successfully completed its acquisition of a portfolio from Alamos Gold Inc. (NYSE: AGI). The transaction, detailed in a previous release on December 22, 2022, involved a silver stream and three royalties, totaling 939,355 common shares at US$5.3228 each, reflecting a 20-day VWAP. This strategic move bolsters Metalla's position in the precious metals market by enhancing its diversified asset base, positioning the company for potential future cash generation and growth in the sector.

Alamos Gold Inc. (AGI) reported a strong financial performance for Q4 and FY 2022, achieving record production of 134,200 ounces of gold in Q4, a 9% increase from Q3. Free cash flow surged to $18 million in Q4, with total revenues hitting $231.9 million, thanks to a 15% rise in the average realized gold price to $1,741 per ounce. The company anticipates a 9% production increase in 2023 and a 17% decrease in all-in sustaining costs by 2025. Operating cash flow reached $102.3 million, with cash and equivalents at $129.8 million, ensuring a strong liquidity position. Alamos also reported a 2% increase in Mineral Reserves to 10.5 million ounces, positioning it for continued growth.

Alamos Gold announced a 2% increase in global Proven and Probable Mineral Reserves, totaling 10.5 million ounces of gold as of December 31, 2022. The increase is attributed to higher-grade additions at Island Gold and Mulatos, with grades rising by 3% overall. Island Gold's Mineral Reserves rose by 9% to 1.5 million ounces, and Mulatos also saw a 9% increase to 1.7 million ounces. Notably, the exploration budget for 2023 is set at $47 million, with substantial allocations for Island Gold and Mulatos, reflecting positive growth prospects. The company anticipates ongoing exploration success, projecting additional growth in its resource base.

Alamos Gold Inc. (AGI) announced positive exploration results from Puerto Del Aire (PDA), extending high-grade gold mineralization beyond existing Mineral Reserves and Resources. The drilling campaign revealed significant intercepts, including 33.40 g/t Au over 25.95 m, enhancing the potential for increased Mineral Reserves, expected to be reported in February 2023. The exploration budget for 2023 is set at $17 million, more than double the previous year, with $4 million allocated specifically for PDA. These developments suggest strong potential for a low-cost, high-return project that could further extend the Mulatos mine’s lifespan, which has produced 2.5 million ounces of gold over its operational history.