Alamos Gold (US:AGI)2025-10-30 21:14Financial Performance - Operating revenues for Q3 2025 reached $462.3 million, a 28.1% increase from $360.9 million in Q3 2024[10] - Net earnings for Q3 2025 were $276.3 million, compared to $84.5 million in Q3 2024, representing a 226.5% increase[10] - Free cash flow for Q3 2025 was $130.3 million, compared to $87.5 million in Q3 2024, marking a 48.9% increase[10] - Cash flow from operating activities reached a record $265.3 million, a 33% increase from Q2 2025[14] - Revenues for Q3 were $130.8 million, a 7% increase year-over-year, while revenues for the first nine months were $325.4 million, down 14% from the prior year[78] - For the first nine months of 2025, operating revenues were $1.2 billion, a 27% increase from the prior year, despite lower ounces sold[160] Production and Costs - Gold production in Q3 2025 was 141,700 ounces, a decrease of 6.5% from 152,000 ounces in Q3 2024[10] - Total cash costs per ounce of gold sold in Q3 2025 were $973, a slight decrease from $984 in Q3 2024[10] - Gold production for Q3 2025 was 141,700 ounces, a 3% increase from Q2 2025, but below the guidance of 145,000 ounces due to unplanned downtime at the Magino mill[14] - Total cash costs were $973 per ounce, 9% lower than Q2 2025, while all-in sustaining costs (AISC) decreased 7% to $1,375 per ounce[14] - Total cash costs per ounce for the first nine months of 2025 were $1,065, and all-in sustaining costs were $1,499, both higher than the prior year[162] Capital Expenditures and Investments - Capital expenditures for growth in Q3 2025 totaled $83.3 million, an increase of 22.5% from $67.9 million in Q3 2024[10] - Capital expenditures in the third quarter of 2025 totaled $135.0 million, an increase from $106.8 million in the prior year period, with significant investments in the Phase 3+ Expansion[195] - The consolidated 2025 capital guidance has been updated to between $539 and $599 million, reflecting a 10% decrease mainly due to delays in the Lynn Lake project[38] Guidance and Future Expectations - The company updated its 2025 production guidance to 560,000 to 580,000 ounces, a 6% decrease from the original guidance[14] - Fourth quarter production is expected to increase by 18% to between 157,000 and 177,000 ounces, driven by higher tonnes and grades processed[34] - Total cash costs and AISC are expected to decrease by 5% in the fourth quarter, remaining on track to achieve annual guidance[35] - The Phase 3+ Expansion at Island Gold is expected to significantly drive near-term production growth and further decrease costs by 2026[36] Sales and Transactions - The company announced the sale of Turkish development projects for $470 million, with the first payment of $160 million received[22][23] - The sale of the Quartz Mountain project was completed for total consideration of up to $21 million, including an immediate cash payment of $2.85 million[25] - The Company closed the sale of its Turkish development projects, providing cash of $163 million, and expects to continue generating strong free cash flow while funding growth projects[40] Debt and Equity - The Company expects to reduce existing debt obligations and assess share buyback opportunities with a cash balance exceeding $600 million[15] - The Facility was amended and upsized from $500.0 million to $750.0 million, with a maturity date of February 20, 2029[187] - Shareholders' equity increased to $4,038.8 million as of September 30, 2025, from $3,584.2 million at the end of 2024, primarily due to total comprehensive income for the current year[182] Exploration and Resources - A total of $27 million is budgeted for exploration at the Island Gold District in 2025, an increase from $20 million in 2024[112] - Mineral Reserves at Island Gold increased by 138% to 4.1 million ounces, with grades rising 5% to 10.85 g/t Au[113] - Inferred Mineral Resources decreased by 64% to 1.3 million ounces, with grades increasing 16% to 16.88 g/t Au[114] - Total exploration expenditures in Q3 2025 were $6.1 million, with $5.1 million capitalized[124] Foreign Exchange and Taxes - The Company recorded a foreign exchange loss of $1.5 million in Q3 2025 due to changes in foreign exchange rates[147] - A non-cash foreign exchange loss of $13.9 million was recorded in Q3 2025 on the revaluation of monetary tax and deferred tax balances[148] - The Company paid cash taxes of $90.9 million in the first nine months of 2025, primarily related to mining and income tax in Mexico[180]