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Minera Alamos Inc. provides an update on its Cobre 4H Mexican subsidiary and copper assets. The company plans to develop a copper production 'hub' in southern Sonora. The Los Verdes and Potreritos projects are key components of this plan. The current NI43-101 compliant Preliminary Economic Assessment for the Los Verdes project highlights a pre-tax net cash flow of $163 million, net present value of $113 million, and an internal rate of return of 34% over a 7-year mine life. The acquisition of the Potreritos project area adds potential resources to the mining plans. The Suaqui Verde project merger is also progressing with agreements in place.
Minera Alamos Inc. provided an update on its 2023 financials and 2024 operational outlook, highlighting progress at the Santana and Cerro de Oro projects. The company aims to boost gold production, optimize existing assets, and establish a new copper-focused entity. Despite temporary production slowdowns, Minera Alamos maintained a strong financial position and is exploring additional growth opportunities.
Minera Alamos Inc. announces the acquisition of the Suaqui Verde Copper Project in Mexico through its subsidiary, Cobre, merging with Minera Gold Copper. The project is a porphyry copper deposit with potential for regional copper production. The site's strategic location, infrastructure, and historical exploration support the development of a low capital intensity copper project. The Company plans to update the resource estimate for the project and considers the historical data reliable. This strategic move expands Minera's copper assets in the region and sets the foundation for a new copper production entity.
