Welcome to our dedicated page for Minera Alamos news (Ticker: MAIFF), a resource for investors and traders seeking the latest updates and insights on Minera Alamos stock.
Minera Alamos Inc. (MAIFF) is a gold production and development company with operations and projects in North America, and its news flow reflects both operating performance and corporate developments. The company owns and operates the Pan Operating Complex in Nevada, a heap leach gold operation that includes the Pan mine, the fully permitted Gold Rock project and the nearby past-producing Illipah project. It also holds the Copperstone mine in Arizona and several 100%-owned gold projects in Mexico, including Santana, Cerro de Oro and La Fortuna.
News releases from Minera Alamos typically cover gold production updates and operating metrics from the Pan mine, such as quarterly production volumes, sales, and non-IFRS measures like cash costs and all-in sustaining costs (AISC). Investors can also expect announcements on project development milestones at Copperstone and the Mexican assets, including permitting progress, engineering work, technical studies and exploration plans.
The company’s disclosures frequently include transaction and financing news, such as acquisitions, private placements, gold prepayment agreements and share consolidations, which relate to funding project development and corporate growth. Governance and management updates, including board appointments and changes in senior leadership roles, are also reported.
This news page aggregates Minera Alamos’ publicly released information so readers can follow production trends at the Pan Operating Complex, track the advancement of the Copperstone and Mexican projects, and monitor capital markets and corporate actions. For investors and observers of the gold sector, the MAIFF news feed provides ongoing insight into how the company is progressing its strategy as a North American gold production and development company.
Minera Alamos Inc. (TSXV: MAI) has provided an operations update for its Santana gold mine in Sonora, Mexico. Mining and stacking operations began last month at the new Nicho Main zone deposit, with approximately 900 ounces of newly mined gold stacked on the leach pad through June. The company expects to stack 1,300-1,500 ounces of gold in the next month, approaching the lower end of initial monthly mining rates.
Gold grades averaged about 0.9 g/t through June. The company is optimizing blasting operations and crushing arrangements to improve leaching conditions. Minera Alamos is also considering mobilizing its agglomeration system for more operational flexibility. The shift to the Nicho Main Zone pit is expected to provide a significant improvement in gold stacking activities and help operations return to being cash generative as gold prices strengthen.
Minera Alamos provided an update on its Q1 2024 financials and operations. The Santana mine is ramping up activities with anticipated gold production of 20,000 ounces over 12 months. An additional 4,500 ounces of higher-grade gold will be processed pending further studies. In Q1 2024, 907 ounces of gold were sold, generating $2.46 million in revenue. Cash reserves stood at $11.84 million, with a working capital of $18.25 million. However, the company reported a small operational loss of $96,514 and a net income of $528,360, down from $1.49 million in Q1 2023. Minera Alamos also disclosed a merger agreement for its subsidiary Cobre 4H with Minera Gold Copper, aimed at creating a regional copper production hub.
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.
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