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Q-Gold Signs Definitive Agreement for the Acquisition of the Quartz Mountain Advanced Gold Project in Oregon, U.S. with Resource
Globenewswire· 2025-04-03 21:00
Core Viewpoint - Q-Gold Resources Ltd has entered into a share exchange agreement to acquire the Quartz Mountain Project in south-central Oregon, which is expected to enhance its project portfolio significantly [2][10]. Acquisition Details - The acquisition involves purchasing all issued and outstanding shares of 0975828 B.C. Ltd, which holds the Quartz Mountain Project [2][11]. - The Quartz Mountain Project consists of 244 claims covering approximately 2,000 hectares, including 86 unpatented LODE mining claims for Quartz Mountain and 158 unpatented LODE mining claims for Angel's Camp [2][3]. - The project has a 50% interest in Angel's Camp and an option to acquire the remaining 50% and a 100% interest in Quartz Mountain upon completion of permitting and a feasibility study [2][3]. Mineral Resources - The Quartz Mountain Project has undergone approximately 100,000 meters of drilling, revealing significant mineral resources [3][6]. - As of December 31, 2024, the project hosts measured and indicated mineral resources of 12,156,000 tonnes at a grade of 0.87 g/t Au, totaling 339,000 ounces of gold, and inferred mineral resources of 39,205,000 tonnes at a grade of 0.91 g/t Au, totaling 1,147,000 ounces of gold [4][6]. Financial Terms of the Acquisition - The total purchase price includes US$2,850,000 in cash and common shares representing 9.99% of Q-Gold's issued shares at closing, with additional milestone payments totaling up to US$15,000,000 based on project development milestones [13][16]. - Milestone payments include US$3,150,000 on the first anniversary, US$2,500,000 on the second anniversary, and US$5,000,000 upon completion of a feasibility study or construction decision [16]. Strategic Importance - The acquisition is seen as a strategic move to capitalize on the rising gold prices, with expectations of prices exceeding US$3,000 per ounce [10]. - The project complements Q-Gold's existing Mine Centre property in Ontario, which has historical significance and potential for further exploration [10][19].
GFG Announces C$2.5 Million Flow-Through Private Placement
Newsfilter· 2025-04-03 10:30
Core Viewpoint - GFG Resources Inc. is conducting a private placement to raise up to C$2.5 million, with Alamos Gold Inc. committing to maintain a 10.8% interest in the company through this offering [1][2]. Group 1: Offering Details - The offering will consist of up to 9,201,325 Premium Units priced at C$0.2717 each, with each unit comprising one common share and one-half of a share purchase warrant [2]. - Each whole warrant allows the holder to acquire an additional common share at an exercise price of C$0.28 for 24 months from issuance [2]. - The offering is expected to close around May 2, 2025, pending necessary approvals [4]. Group 2: Financial Implications - The financing will enhance GFG's exploration efforts and improve its financial position, enabling the company to capitalize on opportunities and create shareholder value [2]. - The company may pay finder's fees of up to 6% on a portion of the offering [4]. Group 3: Regulatory and Compliance Aspects - The Premium Units will be offered to accredited investors and other qualifying jurisdictions under National Instrument 45-106, with no hold period for the securities issued [5]. - Certain insiders are expected to participate in the offering, which will be treated as a related party transaction under Multilateral Instrument 61-101 [6].
IDR Beats Q4 Earnings Estimates, Reports Record Production for 2024
ZACKS· 2025-04-01 16:05
Core Insights - Idaho Strategic Resources, Inc. (IDR) reported a significant increase in earnings per share (EPS) for the fourth quarter of 2024, reaching 18 cents, surpassing the Zacks Consensus Estimate of 16 cents and reflecting an 800% increase from 2 cents in the same quarter of 2023 [1][2] - The company achieved record revenues of $25.8 million for the full year 2024, exceeding the Zacks Consensus Estimate of $25 million and marking an 88.7% year-over-year improvement [3] - IDR produced a record 11,915 ounces of gold in 2024, a 45% increase compared to the previous year [3] Financial Performance - Revenues for the fourth quarter were reported at $7.59 million, a 101% year-over-year increase, beating the Zacks Consensus Estimate of $7 million [2] - Cost of sales for the full year was approximately $13 million, up from $10 million in 2023, while gross profit rose to $12.95 million from $3.97 million in 2023, resulting in a gross margin improvement to 50.3% from 29% [4] - Operating income increased by 732% year-over-year to $8.4 million, with an operating margin of 32.7% compared to 7.4% in 2023 [4] Cost and Cash Position - The all-in-sustaining cost per ounce rose to $1,478.41 in 2024 from $1,279.38 in the previous year, attributed to increased exploration costs [5] - The company ended the year with a cash balance of $16.1 million [5] Stock Performance - Idaho Strategic Resources shares have appreciated by 65% over the past year, outperforming the industry growth of 42.7% [6] Industry Context - The performance of Idaho Strategic Resources is notable in comparison to peers such as Alamos Gold, Barrick Gold, and Kinross Gold, which also reported strong earnings and revenue growth in the same period [10][11][12]
Alamos Gold Provides Notice of First Quarter 2025 Results and Conference Call, and Annual General and Special Meeting of Shareholders
Globenewswire· 2025-04-01 10:55
Core Points - Alamos Gold Inc. plans to release its first quarter 2025 financial results after market close on April 30, 2025 [1] - A conference call to discuss the results will be held on May 1, 2025, at 11:00 am ET [1] - The Annual General and Special Meeting of Shareholders is scheduled for May 29, 2025, at 4:00 pm ET [3] Financial Results and Conference Call - The first quarter 2025 financial results will be released after market close on April 30, 2025 [1] - Participants can join the conference call via webcast or dial-in numbers, with a playback available until June 1, 2025 [2] Annual General and Special Meeting - The record date for determining eligible shareholders is April 15, 2025 [4] - The meeting will be held virtually, providing a corporate update and an informal Q&A session [3] Company Overview - Alamos Gold is a Canadian-based intermediate gold producer with operations in North America, including the Island Gold District and Young-Davidson mine in Ontario, and the Mulatos District in Mexico [5] - The company has a strong portfolio of growth projects, including the Phase 3+ Expansion at Island Gold and the Lynn Lake project in Manitoba [5] - Alamos employs over 2,400 people and is committed to sustainable development [5]
Alamos Gold Provides Notice of Completion of Annual Filings
Globenewswire· 2025-03-31 19:00
All amounts are in United States dollars, unless otherwise stated. TORONTO, March 31, 2025 (GLOBE NEWSWIRE) -- Alamos Gold Inc. (TSX:AGI; NYSE:AGI) ("Alamos" or the "Company") today announced that it has filed its annual information form and 2024 annual report on Form 40-F, including its audited financial statements for the year ended December 31, 2024, with the SEC on EDGAR as well as the Canadian securities authorities on SEDAR+. These documents are also available at www.alamosgold.com and a hard copy wil ...