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. (AGI) is a leading intermediate gold producer based in Canada with a diversified portfolio of production from three primary mining operations across North America. These include the Young-Davidson and Island Gold mines situated in Northern Ontario, Canada, and the Mulatos mine located in Sonora State, Mexico. The company, headquartered in Toronto, Ontario, has been instrumental in contributing to sustainable development and employs over 1,900 individuals.
Alamos Gold Inc. focuses on low-cost gold production, superior financial performance, and delivering enhanced shareholder value. The company has consistently achieved these objectives, evidenced by its diverse mining projects and robust financial health. In addition to its operational mines, Alamos holds a significant portfolio of advanced development stage projects and exploration assets in Mexico, Turkey, Canada, and the United States.
One of Alamos Gold's noteworthy achievements is its commitment to shareholder returns. The company has a strong track record of paying dividends for 15 consecutive years, returning over $344 million to shareholders through dividends and share buybacks. Recently, the company declared a quarterly dividend of US$0.025 per common share, with a Dividend Reinvestment Plan (DRIP) in place, allowing shareholders to reinvest dividends in common shares at a 3% discount to market price.
Financially, Alamos Gold has shown remarkable performance. For the first quarter of 2024, the company reported record quarterly revenues of $277.6 million, benefiting from increased gold prices and robust production metrics. The Young-Davidson mine continues to demonstrate operational consistency with significant free cash flow generation. Island Gold mine is undergoing a Phase 3+ Expansion, expected to boost production capacity significantly, while the Mulatos mine has posted record production figures driven by the La Yaqui Grande project.
Alamos Gold's strategic acquisitions also underscore its growth trajectory. The recent acquisition of Argonaut Gold Inc. is set to create one of the largest and lowest-cost gold mines in Canada by integrating the Magino mine with the Island Gold mine, unlocking substantial synergies estimated at $515 million. Furthermore, the acquisition of Orford Mining Corporation adds the highly prospective Qiqavik Gold Project in Quebec to its growth portfolio.
The company's commitment to the highest standards of sustainable development is reflected in its environmental, social, and governance (ESG) initiatives. Alamos Gold has consistently maintained zero significant environmental incidents, invested in local community development, and ensured a strong safety culture across its operations.
In summary, Alamos Gold Inc. stands out for its strategic focus on low-cost gold production, financial robustness, and dedication to sustainable development, making it a valuable and resilient player in the gold mining industry.
Alamos Gold reported third-quarter financial results for the period ending September 30, 2021, revealing a 104,700-ounce gold production, an 11% drop from the previous year. Challenges at the Mulatos mine led to a revised production guidance reduction of 15,000 ounces for 2021. However, strong performance at Canadian operations, especially Young-Davidson, with a production of 50,000 ounces, showcases growth potential. Revenue stood at $198 million, down 9% from the previous year, with total cash costs rising to <$b>790-$810 per ounce. The construction of La Yaqui Grande progresses towards its 2022 completion.
Alamos Gold Inc. (TSX:AGI; NYSE:AGI) will announce its Q3 2021 financial results after market close on October 27, 2021. A conference call is scheduled for October 28, 2021, at 11:00 am ET, where senior management will discuss the results. The call can be accessed via dial-in numbers for Canada and international participants, with a playback option available until November 28, 2021. Alamos Gold operates three mines and has a diverse portfolio of development projects across North America, Mexico, Turkey, and the U.S., emphasizing sustainable development.
Alamos Gold Inc. (AGI) declared a quarterly dividend of US$0.025 per common share and repurchased 600,000 shares for $4.5 million at $7.50 per share in August. Year-to-date, it has repurchased 800,262 shares for $6.0 million, returning $35 million to shareholders through dividends and buybacks in 2021. The dividend is payable on September 30, 2021, to shareholders recorded by September 16, 2021. The company offers a dividend reinvestment plan allowing shareholders to acquire shares at a 2% discount. Alamos has consistently paid dividends for 12 years, returning $223 million to shareholders.
Alamos Gold Inc. (NYSE: AGI) reported Q2 2021 results with gold production of 114,200 ounces, a 46% year-over-year increase. Young-Davidson and Island Gold performed strongly, with mining rates expected to rise. The company achieved revenues of $195.1 million, a 55% increase, while cash flow from operations was $86.7 million, up 75%. However, a $213.8 million impairment charge was recorded due to the Turkish operations dispute. Alamos ended the quarter with $233.9 million in cash and no debt, continuing capital projects, and aiming for a strong production outlook for the rest of 2021.
Alamos Gold Inc. announced promising results from its ongoing underground exploration drill program at Young-Davidson, revealing a 150-meter extension of gold mineralization below existing Inferred Mineral Resources. Highlights include drill results of 5.32 g/t Au over 39.2 m and 5.42 g/t Au over 12.75 m. The overall 2021 exploration budget is $7 million targeting expanded Mineral Reserves and Resources. A total of 13,000 m of underground drilling is planned, enhancing accessibility due to new lower mine infrastructure. The exploration aims to identify high-grade mineralization beyond known resources.
Alamos Gold Inc. (AGI) will release its second quarter 2021 financial results after market close on July 28, 2021. A conference call will be held on July 29, 2021, at 10:00 am ET to discuss the results. Participants can join via webcast or by calling the provided numbers. Alamos operates three gold mines in North America and has a diverse portfolio of development projects across multiple countries. The company employs over 1,700 individuals and focuses on sustainable development.
Alamos Gold Inc. (AGI) reported new high-grade gold exploration results from the Island Gold mine, highlighting significant extensions to mineralization. Island East saw gold mineralization extended 20 m, with impressive drill results including 71.21 g/t Au over 21.33 m. The 2021 exploration budget increased to $25 million, focusing on mineral resource definition and regional targets. As of May 31, 2021, significant drilling progressed with assays pending. The company anticipates further resource growth, driven by these successful exploration results.
Alamos Gold Inc. (AGI) announced a quarterly dividend of US$0.025 per share, payable on June 30, 2021, to shareholders on record by June 16, 2021. With this announcement, the company highlights its commitment to returning value to shareholders, having paid out $208 million over the past 12 years through dividends and share buybacks. Alamos also introduced a Dividend Reinvestment Plan (DRIP), allowing shareholders to reinvest dividends at a 3% discount to market prices. This dividend qualifies as an eligible dividend for Canadian income tax purposes.
Alamos Gold Inc. (TSX:AGI; NYSE:AGI) held its Annual General Meeting on May 27, 2021, reporting 300,039,544 shares voted, representing 76.40% of total outstanding shares. The meeting confirmed the election of all nominated directors, including Elaine Ellingham (87.89% approval) and David Fleck (86.46% approval). The Company also appointed KPMG LLP as its auditor, passing with 99.63% approval. The advisory resolution on executive compensation was approved with 98.10%. Ronald E. Smith retired from the Board, recognized for his contributions since 2015.
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