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Alamos Gold Inc. - AGI STOCK NEWS

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.

Rhea-AI Summary

Alamos Gold announced new results from its underground exploration at the Young-Davidson mine, revealing higher-grade gold mineralization within the hanging wall zones. The drilling intersected gold grades significantly higher than the current Mineral Reserve grade of 2.31 g/t Au, with highlights including 7.41 g/t Au over 22.00 m and 19.94 g/t Au over 4.55 m. The 2024 exploration program has a budget of $12 million, focusing on extending mineralization within the Young-Davidson syenite and testing hanging wall zones. Drilling is ongoing to further define the extent and geometry of these new mineralized zones.

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Alamos Gold Inc. reported strong first quarter 2024 results with record revenues driven by production exceeding guidance. The company's ongoing free cash flow generation was solid, with significant value creation through exploration and M&A activities. The acquisition of Argonaut Gold Inc. and Orford Mining is expected to enhance Alamos' position as a Canadian focused intermediate gold producer. Operational and financial highlights include increased gold production and sales, improved Mineral Reserves, and ongoing community support initiatives.
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Alamos Gold Inc. and Argonaut Gold Inc. have completed a non-brokered private placement where Alamos acquired 13.8% of Argonaut's common shares for C$50,000,000. The proceeds will fund Argonaut's liquidity needs, including the Magino Gold mine and general working capital.
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Alamos Gold Inc. (AGI) successfully completes the acquisition of Orford Mining , gaining access to the promising Qiqavik Gold Project in Northern Quebec. The transaction aligns with Alamos' strategy of expanding its project portfolio in favorable locations for long-term growth.
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Alamos Gold Inc. (AGI) plans to release its first quarter 2024 financial results and host a conference call to discuss the results. The Company will hold its Annual General and Special Meeting of Shareholders in May 2024. Participants can join the conference call via webcast or dial-in numbers. The Annual Meeting will be held virtually, with detailed voting instructions provided.
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Alamos Gold Inc. and Argonaut Gold Inc. have entered into a definitive agreement for Alamos to acquire all shares of Argonaut, including the Magino mine, creating one of Canada's largest and lowest cost gold mines. The integration of the two operations is expected to unlock approximately US$515 million in immediate and long-term synergies, with an increase in combined gold production to over 600,000 ounces per year. The Transaction will exchange each Argonaut common share for 0.0185 Alamos common shares and 1 share of SpinCo, implying an estimated total consideration of C$0.40 per share, or US$325 million.
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Alamos Gold Inc. (AGI) has filed its annual information form and 2023 annual report, including audited financial statements, with the SEC and Canadian securities authorities. The documents are available online and in hard copy for shareholders.
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Alamos Gold Inc. declares a quarterly dividend of US$0.025 per common share, continuing its streak of paying dividends for 15 consecutive years. Shareholders have received $334 million through dividends and share buybacks, with $39 million distributed in 2023. The dividend is payable on March 28, 2024, to shareholders of record as of March 14, 2024, and qualifies as an eligible dividend for Canadian income tax purposes. The Company offers a Dividend Reinvestment Plan (DRIP) allowing shareholders to reinvest dividends in common shares at a 3% discount to the market price.
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Alamos Gold Inc. (AGI) reported a strong fourth quarter, leading to record annual production, revenue, and operating cash flow in 2023. Production increased by 15% to 529,300 ounces, with revenue reaching $1 billion and cash flow from operations hitting $519 million. The company achieved various financial records, including generating $124 million of free cash flow while investing in growth projects. The growth at PDA and Island Gold is expected to extend mine life and drive substantial production growth at lower costs in 2026 and beyond.
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Alamos Gold Inc. reports a 2% increase in Global Proven and Probable Mineral Reserves to 10.7 million ounces of gold, driven by high-grade additions at Island Gold and Puerto Del Aire. Mineral Reserve additions exceed depletion, with Island Gold marking an 18% increase and PDA a 33% increase in Mineral Reserves. The company's global Measured and Indicated Mineral Resources increased by 12% to 4.4 million ounces of gold, with grades rising by 9%. The Inferred Mineral Resources also saw a 3% increase to 7.3 million ounces of gold. Alamos Gold maintains a conservative approach with $1,400 per ounce for estimating Mineral Reserves and $1,600 per ounce for estimating Mineral Resources.
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FAQ

What is the current stock price of Alamos Gold (AGI)?

The current stock price of Alamos Gold (AGI) is $18.33 as of December 20, 2024.

What is the market cap of Alamos Gold (AGI)?

The market cap of Alamos Gold (AGI) is approximately 7.7B.

What is Alamos Gold Inc.'s primary business?

Alamos Gold Inc. is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America, focusing on low-cost gold production and sustainable development.

Where are Alamos Gold's operational mines located?

Alamos Gold operates three primary mines: Young-Davidson and Island Gold mines in Northern Ontario, Canada, and the Mulatos mine in Sonora State, Mexico.

How does Alamos Gold Inc. contribute to shareholder returns?

Alamos Gold has a strong track record of paying dividends for 15 consecutive years, with a Dividend Reinvestment Plan (DRIP) allowing shareholders to reinvest dividends in common shares at a discount.

What are some recent achievements of Alamos Gold Inc.?

Recent achievements include record quarterly revenues of $277.6 million in Q1 2024, significant progress on the Phase 3+ Expansion at Island Gold, and the acquisition of Argonaut Gold Inc.

What is the significance of the Phase 3+ Expansion at Island Gold?

The Phase 3+ Expansion at Island Gold is expected to significantly increase production capacity, enhancing Alamos Gold's position as a leading gold producer with growing production and declining costs.

How does Alamos Gold Inc. ensure sustainable development?

Alamos Gold is committed to the highest standards of sustainable development, focusing on zero significant environmental incidents, community investments, and a strong safety culture across its operations.

What are Alamos Gold’s growth projects?

Alamos Gold’s growth projects include the Phase 3+ Expansion at Island Gold, the Lynn Lake project in Manitoba, Canada, and the recently acquired Qiqavik Gold Project in Quebec.

How is Alamos Gold addressing ESG (Environmental, Social, and Governance) concerns?

Alamos Gold has strong ESG initiatives, including zero significant environmental incidents, ongoing community investments, and maintaining a safe working environment for employees.

What is the financial outlook for Alamos Gold in 2024?

Alamos Gold is on track to achieve its 2024 guidance with strong operational performance and increased gold prices, expecting to generate robust cash flow while funding key growth projects.

How does Alamos Gold Inc. manage its financial health?

Alamos Gold maintains a strong liquidity position with significant cash reserves, no debt, and a $500 million undrawn credit facility, ensuring it can internally fund its growth initiatives and sustain financial stability.

Alamos Gold Inc.

NYSE:AGI

AGI Rankings

AGI Stock Data

7.70B
419.05M
0.27%
69.94%
0.81%
Gold
Basic Materials
Link
United States of America
Toronto