Minera Alamos Inc. reports operating and corporate developments for a gold producer with common shares traded on the TSX Venture Exchange and OTCQX. Company news centers on gold production, sales, costs, cash balances, and audited operating results tied to the 100%-owned Pan Operating Complex in White Pine County, Nevada.
Updates also cover NI 43-101 mineral resource and reserve reporting for the Pan gold mine, integration of acquired U.S. operating entities, and growth-project references such as Gold Rock and the Copperstone Project in Arizona. Recurring corporate items include share consolidation, strategic share transactions, liquidity arrangements, and capital-structure disclosures.
Minera Alamos (TSXV: MAI) has successfully closed the order book for its previously announced C$110 million private placement due to strong institutional investor demand. The offering, led by Stifel Canada and other major underwriters, includes a C$25 million Underwriters' Option.
The company will use the proceeds to acquire Calibre USA Holdings from Equinox Gold Corp. for $115 million, comprising $90 million in cash and $25 million in equity. The acquisition includes the Pan Gold Mine, Gold Rock Project, and Illipah Project in Nevada. The offering is expected to close in mid-September, with Equinox's ownership capped at 9.99% of outstanding shares.
Minera Alamos (TSXV: MAI) held its Annual General and Special Meeting of Shareholders on July 16, 2025, in Toronto. Shareholders demonstrated strong support for all proposed items, with 40% of total shares participating in the voting process, representing 233,846,881 common shares.
All five nominated board members - Darren Koningen, Doug Ramshaw, Bruce Durham, Ruben Padilla, and Kevin Small - were re-elected. Following the meeting, Bruce Durham was appointed as Lead Director.
Minera Alamos (TSXV: MAI) has received TSX Venture Exchange approval for its Omnibus Incentive Plan, which was ratified by shareholders on February 28, 2025. The plan is designed to attract and retain qualified personnel by aligning their interests with shareholders' goals.
The Omnibus Incentive Plan is a 10% rolling plan of issued and outstanding common shares, allowing the Board to grant stock options, restricted share units, and deferred share units. Currently, there are 27,746,775 incentive stock options outstanding, representing 4.8% of the company's issued shares.
Additionally, the company has issued 3,388,364 common shares to settle $951,000 in debt owed to arms-length creditors formerly engaged by Sabre Gold Mines Corp. The shares were issued at deemed prices of $0.28 and $0.345 per share, subject to a four-month hold period.
Minera Alamos Inc. (TSXV: MAI) has reissued a Preliminary Economic Assessment (PEA) for its 100% owned Copperstone Mine in Arizona. The study projects an average production of 40,765 payable oz gold per year over a 6-year mine life, with a base case assuming $1,800 per gold oz.
Key financial highlights include:
- Initial capital cost of $36.3 million with a 1.7-year payback period
- Processing capacity of 544 tonnes per day
- After-tax cumulative undiscounted cash flow of $92 million
- Low initial capital intensity of $158 per payable gold ounce
The project benefits from existing infrastructure including tailings facilities, surface buildings, and underground development. The mining method will be mechanized cut and fill using cemented rock fill. The project is fully licensed and permitted, with minor modifications required for optimized processing flow sheet.
Minera Alamos (TSXV: MAI) held its Annual & Special General Meeting on February 28th, 2025, in Toronto, with shareholders showing strong support for all proposed items. 42.07% of total shares participated in the voting, representing 210,743,111 common shares.
Shareholders approved the re-election of all five board nominees: Darren Koningen, Doug Ramshaw, Bruce Durham, Ruben Padilla, and Kevin Small. Additionally, they ratified McGovern Hurley LLP as the Company's auditors and approved the adoption of the Omnibus Incentive Plan.
Minera Alamos (TSXV: MAI) has completed its acquisition of Sabre Gold Mines and its flagship Copperstone gold project. The transaction creates a diversified North American gold producer with potential for 150,000 oz of annual gold production. The Copperstone mine, which previously produced 514,000 oz of gold from 1987-1993, is at advanced permitting stage for near-term restart.
Under the transaction terms, each Sabre share was exchanged for 0.693 Minera Alamos shares, resulting in 76,499,114 new shares being issued. Post-transaction, existing Minera Alamos shareholders own approximately 86% of the company, while former Sabre shareholders own 14%. Prior to closing, approximately CAD$9.5 million in debt was settled through the issuance of Sabre shares.
The company has added key personnel, including Louell Uy for mine planning and Garth Wilcox for engineering support at Copperstone. Plans are underway to relocate processing plant equipment from Val d'Or, Quebec to the Copperstone site.
Minera Alamos (TSXV: MAI) has received conditional approval from the TSX Venture Exchange to settle a US$400,000 payment to Auramet through the issuance of 1,901,648 common shares at C$0.2949 per share. This payment extends certain loan agreement conditions' deadline from November 29th, 2024 to May 29th, 2025.
The extension comes amid improving permitting sentiment in Mexico, with several companies expecting permits or amendments in H1 2025. The company views this extension as providing financial flexibility while working toward completing the permit process for their planned Cerro de Oro gold mine.
Minera Alamos reported its Q3 2024 operations update, marking the first full quarter of production from the Nicho Main Deposit. The company stacked 3,800 ounces of mined gold on the leach pad, surpassing 2023's total. Mining rates approached 7,000 tpd in October, with average grades of 0.60 g/t. The company plans a Phase 2 leach pad expansion increasing capacity by 40%. Additionally, Minera Alamos announced the acquisition of Sabre Gold Mines and its Copperstone gold mine, alongside an C$8.5 million bought deal private placement. The company reported recoverable gold inventory of 8,199 ounces on the leach pad as of September 30, 2024.