How Mining Stocks make a difference

Learn everything you need to know in 'The Complete Guide to Mining Stocks' for FREE from The Successful Investor.

Best Canadian Mining Stocks TSX: Plus Gold Stocks, Canadian Diamond Mines and more.

 I consent to receiving information from The Successful Investor via email. I understand I can unsubscribe from these updates at any time.

Topic: Mining Stocks

Gold miner finances its growth debt free

This gold miner’s production is up 4.4% from mines in Mexico and Ontario and is ready to benefit from higher gold prices in the year to come.

The company is preparing for full production at its new project in Turkey while it expands operations at an existing Ontario mine.


The Best Stocks Aren't Always Best-Known

They’re some of the most spectacular ‘ready-to-soar’ stocks

And Canadians rarely hear about them. See them with a 30-day free trial.

Continue Reading >>
 

ALAMOS GOLD (Toronto symbol AGI; www.alamosgold.com) took its current form in July 2015, when Alamos Gold merged with Stock Pickers Digest recommendation AuRico Gold. The combined company owns the Mulatos and El Chanate mines in Mexico as well as the Young-Davidson and Island mines in northern Ontario.

The company also has a number of development projects in Turkey, Mexico and Canada. These include its advanced-stage Kirazli gold project in Turkey. Production at a new mine could start as early as 2020. Its output is forecast at 104,000 ounces of gold per year.

Late last year, Alamos bought Richmont Mines (symbol RIC on Toronto) for $929 million in Alamos shares. Richmont’s main asset is the Island Gold mine, northeast of Wawa, Ontario. That facility was expected to produce nearly 100,000 ounces of gold for 2018.

The Island Gold deposit could hold an additional 1.7 million ounces of gold. Richmont released a preliminary economic assessment (PEA) in May 2017. That higher output is based on a proposed $28 million expansion project. It could lift the site’s 2019 production by 25%, to 125,000 ounces.

Mining Stocks: Holds $206 million in cash with no debt

In the three months ended December 31, 2018, Alamos’s gold production rose 4.4%, to 125,600 ounces from 120,300 a year earlier.

The company holds cash of $206.0 million, and it has no debt. That strong balance sheet and prospects for increased production give Alamos strong speculative appeal.

Recommendation in Stock Picker’s Digest: Alamos Gold is a buy

Comments

Tell Us What YOU Think

You must be logged in to post a comment.

Please be respectful with your comments and help us keep this an area that everyone can enjoy. If you believe a comment is abusive or otherwise violates our Terms of Use, please click here to report it to the administrator.