Alamos Gold to sell Turkish projects to Tümad for $470m

Core Viewpoint - Alamos Gold has announced the sale of its Turkish development projects to Tümad Madencilik for $470 million, allowing the company to focus on growth projects in North America and reduce debt [1][2][3]. Group 1: Transaction Details - The sale involves Alamos' wholly owned Turkish subsidiary, Doğu Biga Madencilik, which manages the Kirazlı, Ağı Dağı, and Çamyurt projects [1]. - Alamos will receive $160 million at closing, another $160 million one year later, and a final $150 million two years after closing, all backed by bank guarantees [2]. - The transaction is expected to close in the fourth quarter of 2025, pending regulatory approvals in Turkey [3]. Group 2: Strategic Implications - Alamos intends to use the proceeds from the sale to advance its growth projects, including the expansion of the Lynn Lake project in Canada and the Puerto Del Aire project in Mexico, as well as to reduce existing debt [2]. - The company operates three mines in North America, which are characterized as lower cost and support a strong growth profile in the sector [4]. - Alamos has previously consolidated its operations by acquiring Argonaut Gold's shares for $325 million, enhancing its position in Ontario [5].