Group 1 - Alamos Gold is a high-quality gold mining company with most production in Canada and some in Mexico [1] - The company is expected to experience production growth in the coming years [1] Group 2 - The investment strategy focuses on turnarounds in natural resource industries with a typical holding period of 2-3 years [2] - The portfolio has achieved a compounded annual growth rate of 26% over the last 6 years [2]

ALAMOS GOLD INC. Management's Discussion and Analysis (in United States dollars, unless otherwise stated) For the Year ended December 31, 2024 ALAMOS GOLD INC. For the Year ended December 31, 2024 Table of Contents | Overview of the Business | 3 | | --- | --- | | Highlight Summary | 4 | | 2024 Highlights | 6 | | Environment, Social and Governance Summary Performance | 8 | | Business Developments | 9 | | Outlook and Strategy | 11 | | Young-Davidson Mine ("Young-Davidson") | 14 | | Island Gold Mine ("Island G ...

Core Viewpoint - Alamos Gold Inc. achieved record operational and financial performance in 2024, with significant increases in production, revenues, and free cash flow, driven by strong operational performances across its mining operations and strategic acquisitions [2][29]. Operational and Financial Highlights - Gold production reached a record 567,000 ounces in 2024, a 7% increase from 2023, meeting revised guidance [4][29]. - Full-year revenues totaled $1.3 billion, a 32% increase from 2023, driven by higher gold prices and production [4][29]. - Record free cash flow of $272 million was generated in 2024, funding high-return growth initiatives [4][29]. - Total cash costs for the year were $927 per ounce, with all-in sustaining costs (AISC) at $1,281 per ounce, both in line with guidance [4][29]. Production Breakdown - The Mulatos District produced 205,000 ounces, exceeding guidance by 5%, contributing to mine-site free cash flow of $239.9 million [4][30]. - Island Gold produced 155,000 ounces, meeting the high end of guidance and self-funding all expansion and exploration initiatives [4][30]. - Young-Davidson produced 174,000 ounces, generating record mine-site free cash flow of $140.9 million [4][30]. Mineral Reserves and Resources - Global Mineral Reserves increased by 31% to 14 million ounces, reflecting the acquisition of Magino and ongoing exploration success [3][36]. - Island Gold's Mineral Reserves and Resources increased by 9% to 6.7 million ounces, with significant improvements in grades [37][38]. Growth Initiatives - The company announced a construction decision on the Lynn Lake project, expected to produce 176,000 ounces annually over its first ten years [8][34]. - The Phase 3+ Expansion at Island Gold is on track for completion in the first half of 2026, expected to drive further free cash flow growth [32][43]. - The exploration budget for 2025 is set at $72 million, a 16% increase from 2024, reflecting the company's commitment to expanding its resource base [45]. Financial Position - Cash and cash equivalents were $327.2 million at year-end 2024, up from $224.8 million at the end of 2023, with total liquidity of approximately $827.2 million [8][47]. - The company paid dividends of $41 million for the full year, maintaining a quarterly dividend of $0.025 per share [8][47]. 2025 Guidance - Production is expected to increase by 7% in 2025, ranging between 580,000 and 630,000 ounces, with AISC projected to decrease by 8% by 2027 [41][43]. - Capital expenditures are expected to increase in 2025 due to development capital for Lynn Lake and PDA projects [44].

Core Insights - Alamos Gold Inc. reported a significant 31% increase in global Proven and Probable Mineral Reserves to 14.0 million ounces of gold as of December 31, 2024, driven by the acquisition of the Magino mine and continued high-grade additions at Island Gold [4][7][32] - The company has experienced six consecutive years of growth in Mineral Reserves, with a notable increase in grades at Island Gold, which will support future mine planning and expansion studies [3][9][31] Mineral Reserves - Global Proven and Probable Mineral Reserves increased to 14.0 million ounces, reflecting a 31% rise from 10.7 million ounces at the end of 2023, primarily due to the addition of Magino and high-grade additions at Island Gold [4][7][8] - Excluding Magino, Proven and Probable Reserves increased by 12% to 11.9 million ounces, with a replacement rate of 249% for depletion [4][8] - Island Gold's Mineral Reserves rose 32% to 2.3 million ounces, with grades increasing by 11% to 11.40 g/t Au [4][9][20] Mineral Resources - Global Measured and Indicated Mineral Resources increased by 50% to 6.6 million ounces, primarily due to the acquisition of Magino [15][16] - Excluding Magino, Measured and Indicated Mineral Resources rose 6% to 4.7 million ounces, reflecting successful exploration at Burnt Timber and Linkwood [15][16] - Global Inferred Mineral Resources decreased by 2% to 7.1 million ounces, with grades remaining stable at 1.76 g/t Au [16] Exploration and Future Plans - The company has allocated a record exploration budget of $72 million for 2025, focusing on expanding mineralization across its asset base, particularly at Island Gold and the Qiqavik project [4][15] - A total of 41,500 meters of underground drilling is planned for 2025, targeting new Mineral Reserves and Resources near existing production [25][26] - The updated Island Gold District mine plan and Expansion Study are expected to be released in mid-2025, incorporating significant growth in grades and reserves [31][32] Specific Project Updates - Magino's Mineral Reserve is estimated at 2.0 million ounces with a grade of 0.91 g/t Au, reflecting a decrease from the previous owner's estimate due to more conservative assumptions [10][32] - The Lynn Lake District saw a 42% increase in Mineral Reserves to 3.3 million ounces, driven by successful conversions at Burnt Timber and Linkwood [11][50] - The Mulatos District experienced a slight decrease in Mineral Reserves to 1.4 million ounces, with ongoing exploration success at the PDA deposit [12][38]

Core Viewpoint - Alamos Gold Inc. has reported positive results from an internal economic study on the Burnt Timber and Linkwood satellite deposits, which are expected to significantly extend the mine life of the Lynn Lake project to 27 years and enhance its economics with a low initial capital requirement and a high after-tax Internal Rate of Return (IRR) of 54% [2][3][8]. Economic Analysis - The after-tax IRR for the Burnt Timber and Linkwood project is estimated at 54%, with an after-tax Net Present Value (NPV) of $177 million at a gold price of $2,200 per ounce [6][15]. - At a higher gold price of $2,800 per ounce, the after-tax IRR increases to 83%, and the NPV rises to $292 million [6][15]. - The payback period is less than one year based on the base case gold price [19]. Production and Costs - Average annual gold production is projected at 83,000 ounces over a 10-year mine life, with total cash costs of $1,140 per ounce and all-in sustaining costs of $1,164 per ounce [6][33]. - Initial capital expenditure is estimated at $67 million, with total life of mine capital costs expected to reach $88 million [6][36]. - The total all-in cost per ounce produced is projected to be $1,241 [6]. Mineral Reserves and Resources - The combined Mineral Reserves for the Lynn Lake project, including Burnt Timber and Linkwood, have increased by 40% to 3.3 million ounces of gold [6][10]. - The initial Mineral Reserve at Burnt Timber and Linkwood is 940,000 ounces, grading 0.95 grams per tonne [10][11]. Project Overview - The Burnt Timber and Linkwood deposits will be mined using conventional open pit methods, with mining activities expected to overlap for a combined mine life of 10 years [27][23]. - Ore will be processed at the MacLellan mill, which has a nominal capacity of 8,000 tonnes per day [29][30]. Exploration Potential - There is significant exploration upside at Burnt Timber and Linkwood, with plans for a 2025 drill program to expand mineralization beyond current reserves [43][45]. - The Lynn Lake project covers a large area with multiple regional targets, indicating potential for additional satellite deposits [45][46].

Alamos Gold (AGI) is expected to report an improvement in its bottom line when it reports fourth-quarter 2024 results on Feb. 19, after market close. Find the latest earnings estimates and surprises on Zacks Earnings Calendar.The Zacks Consensus Estimate for Alamos Gold’s earnings has moved down 19% over the past 60 days to 21 cents per share. The figure indicates a 75% surge from the year-ago quarter. Image Source: Zacks Investment ResearchAGI’s Earnings Surprise HistoryAlamos Gold’s earnings matched the Z ...

All amounts are in United States dollars, unless otherwise stated. TORONTO, Jan. 29, 2025 (GLOBE NEWSWIRE) -- Alamos Gold Inc. (TSX:AGI; NYSE:AGI) (“Alamos” or the “Company”) today announced it has been granted approval of an amendment to its existing environmental impact assessment (Manifestación de Impacto Ambiental “MIA") by Mexico’s Secretariat of Environment and Natural Resources (“SEMARNAT”), allowing for the start of construction on the Puerto Del Aire (“PDA”) project located within the Mulatos Distr ...

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Investors looking for stocks in the Mining - Gold sector might want to consider either Alamos Gold (AGI) or Franco-Nevada (FNV) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.There are plenty of strategies for discovering value stocks, but we have found that pairing a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system produces the best returns. The Zacks Rank is a proven strategy that ta ...

Group 1 - Alamos Gold Inc. plans to release its fourth quarter and year-end 2024 financial results on February 19, 2025, after market close [1] - A conference call to discuss the results will be held on February 20, 2025, at 11:00 am ET [1] - Participants can join the conference call via webcast or through specific dial-in numbers provided [1] Group 2 - Alamos is a Canadian-based intermediate gold producer with operations in North America, including the Young-Davidson mine and Island Gold District in Ontario, and the Mulatos District in Mexico [2] - The company has a strong portfolio of growth projects, including the Phase 3+ Expansion at Island Gold and the Lynn Lake project in Manitoba [2] - Alamos employs over 2,400 people and is committed to sustainable development [2]