AGI to Lower Debt Levels With Sale of Turkish Development Projects

Core Insights - Alamos Gold Inc. (AGI) has finalized a $470 million agreement to sell its Turkish subsidiary, including the Kirazli, Agi Dagi, and Camyurt projects, to Tumad Madencilik Sanayi ve Ticaret A.S, allowing the company to focus on higher-return growth projects [1][2][6] Financial Details - The sale will be executed in three installments: $160 million upon completion, $160 million within the first year, and $150 million on the second anniversary of the closing [2][3] - AGI plans to utilize the proceeds to reduce existing debt and fund key projects such as the Island Gold Phase 3+ Expansion, Lynn Lake, and Puerto Del Aire in Mexico [3][6] Performance Metrics - In Q2 2025, AGI reported record adjusted earnings of 34 cents per share, surpassing the Zacks Consensus Estimate of 33 cents, marking a 42% year-over-year increase [4] - Total revenues for Q2 2025 reached $438 million, up from $333 million in the prior-year quarter [4] Stock Performance - AGI's shares have appreciated by 60% over the past year, compared to a 70.6% increase in the industry [5]