Alamos Gold Announces the Sale of its Turkish Development Projects for Total Cash Consideration of $470 million

Core Viewpoint - Alamos Gold Inc. has entered into a definitive agreement to sell its wholly owned Turkish subsidiary, Doğu Biga Madencilik Sanayi ve Tic. A.Ş., for a total cash consideration of $470 million, which will be used to support the development of other high-return growth projects and reduce existing debt obligations [2][3][4]. Transaction Details - The total cash consideration for the sale is $470 million, with payments structured as follows: $160 million upon closing, $160 million on the one-year anniversary, and $150 million on the two-year anniversary of the closing [2][8]. - The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions and regulatory approval in Türkiye [4]. Strategic Implications - The proceeds from the transaction will be utilized to support the development of Alamos's growth projects, including the Phase 3+ Expansion within the Island Gold District, the Lynn Lake Project, and the Puerto Del Aire project in Mexico [3][4]. - The transaction allows the company to crystallize significant value from its Turkish assets and focus on lower-cost projects in North America, enhancing its growth profile in the sector [3]. Legal Considerations - In conjunction with the transaction, arbitration proceedings between the Netherlands Subsidiaries and the Republic of Türkiye will remain suspended and will be discontinued after certain contractual milestones are reached [5].