Alamos Gold Inc. - AGI STOCK NEWS

Alamos Gold reported record revenues of $251.5 million for Q1 2023, a 36% increase from the previous year, driven by a higher gold sales volume of 132,668 ounces and an average gold price of $1,896 per ounce. Gold production reached 128,400 ounces, exceeding guidance, with significant contributions from the Mulatos District, where production more than doubled. The company achieved total cash costs of $821 per ounce, a 17% reduction year-over-year, reflecting efficiency gains. Operating cash flow rose 16% from Q4 2022, while free cash flow stood at $10.5 million, temporarily affected by delayed sales tax receivables. With a strong cash position of $133.8 million and no debt, Alamos is well-placed to fund ongoing growth initiatives, including the Phase 3+ Expansion at Island Gold, projected for completion in 2026.

Alamos Gold Inc. (TSX:AGI; NYSE:AGI) will release its first quarter 2023 financial results on April 26, 2023, post-market. A conference call to discuss these results will occur on April 27, 2023, at 11:00 am ET. The 2023 Annual Meeting of Shareholders is set for May 25, 2023, at 4:00 pm ET, and will be held virtually. Shareholders eligible to vote must be on record by April 12, 2023. Alamos operates three gold mines in North America and is focused on sustainable development. For more details, visit alamosgold.com.

Alamos Gold Inc. (TSX:AGI; NYSE:AGI) has filed its 2022 annual information form and report on Form 40-F with the SEC and Canadian securities authorities. This includes audited financial statements for the fiscal year ending December 31, 2022. The documents are accessible on the company’s website, and hard copies are available to shareholders upon request. Alamos operates three mines in North America, including Young-Davidson and Island Gold in Ontario, and the Mulatos mine in Mexico. The company also has growth projects like the Phase 3+ Expansion at Island Gold and the Lynn Lake project in Manitoba.

On March 27, 2023, Alamos Gold Inc. (TSX:AGI; NYSE:AGI) announced the filing of a technical report for its Mulatos Property located in Sonora, Mexico. This report complies with National Instrument 43-101 standards for mineral projects and is accessible on SEDAR and the company’s website. Alamos Gold is a Canadian intermediate gold producer with three operational mines in North America, emphasizing growth in its portfolio with initiatives like the Phase 3+ Expansion at Island Gold and the Lynn Lake project in Manitoba. The company employs over 1,900 individuals and is dedicated to sustainable development.

Alamos Gold Inc. (AGI) has announced the promotion of Greg Fisher to Chief Financial Officer, effective May 1, 2023. Fisher, who has over 20 years of experience in the mining sector and has been with Alamos since 2010, will succeed Jamie Porter, who is leaving to pursue another career opportunity in the mining industry. Porter will assist with the transition until April 28, 2023. Company President and CEO John A. McCluskey highlighted Fisher's strong leadership and financial expertise, anticipating continued growth and profitability for Alamos, which operates three mines in North America and has a portfolio of growth projects.

Alamos Gold Inc. (AGI) announced completion of the Environmental Impact Assessment for the Lynn Lake Gold Project, earning a positive Decision Statement from the Minister of Environment and Climate Change Canada. The Province of Manitoba also issued Environment Act Licenses for associated sites. CEO John A. McCluskey emphasized the project's capacity to boost annual gold production to 800,000 ounces. The company reported a 27% increase in Mineral Reserves to 2.1 million ounces since 2017, with a budget of $5 million for further exploration in 2023, including drilling near the Gordon deposit.

Alamos Gold Inc. (TSX:AGI; NYSE:AGI) has announced a quarterly dividend of US$0.025 per common share, payable on March 30, 2023. This dividend reflects the company's robust history of returning value to shareholders, totaling $294 million over 14 years, including $47 million in 2022. Shareholders of record as of March 16, 2023 will qualify for this dividend. Additionally, Alamos offers a dividend reinvestment plan (DRIP), allowing shareholders to purchase shares at a 3% discount without transaction costs. Enrollment is required by 4:00 PM EST on March 13, 2023.

Alamos Gold has entered into a definitive agreement to acquire all outstanding shares of Manitou Gold, consolidating its ownership and expanding its land package around the Island Gold Mine. This strategic acquisition adds 40,000 hectares of land in the Michipicoten Greenstone Belt, increasing Alamos’ total land package in the area to 55,277 hectares, a 267% increase. The deal offers Manitou shareholders 0.003525 of an Alamos common share for each share, valuing Manitou shares at C$0.05, representing a 95% premium. Alamos aims to enhance exploration potential and maximize mineral resources in the region.