Alamos Gold updates production and capital plans for 2024-2026

Alamos Gold Inc. has updated its three-year production and capital guidance for 2024-2026, reflecting significant changes due to the acquisition of the Magino operation. The company anticipates gold production to increase by over 20% in 2025 and 2026, with a projected output of 900,000+ ounces per year by mid-2027 through the development of the Puerto Del Aire (PDA) project and growth from the Lynn Lake project. The inclusion of Magino is expected to enhance production capacity and operational efficiency. Total cash costs and all-in sustaining costs (AISC) have been adjusted, with AISC guidance increasing by 11% on average between 2024 and 2026 due to the higher costs associated with Magino production. However, costs remain below industry averages, with expectations of a declining cost profile as low-cost production at Island Gold increases. AISC is projected to decrease by 10% by 2026 compared to 2024, driven by improvements at both Island Gold and Magino. Capital spending has also been revised, with an increase in 2025 and 2026 to support growth and sustaining capital for Magino and the PDA project. The 2024 capital guidance has been slightly raised to account for the inclusion of Magino, while the overall capital expenditure reflects inflationary pressures and currency fluctuations. The company is focused on high-return, lower-risk organic growth initiatives. Overall, these updates indicate a strategic shift for Alamos Gold, positioning the company for significant production growth and improved cost efficiencies in the coming years, while navigating challenges such as inflation and integration of new operations.