Topic: How To Invest

Power Growth Investor Hotline – Friday, March 3, 2023

Article Excerpt

ALAMOS GOLD INC., $14.21, symbol AGI on Toronto, is a buy. The company took its current form in July 2015, when Alamos Gold merged with Stock Pickers Digest recommendation AuRico Gold. The combined firm owns the Mulatos and El Chanate mines in Mexico, and the Young-Davidson and Island mines in northern Ontario. The Mulatos mine has now transitioned to a new, nearby deposit called La Yaqui Grande. Alamos is now buying Manitou Gold (symbol MTU on Toronto). The acquisition will consolidate Alamos’ existing ownership of Manitou shares and increase its regional land package around the Island mine with the addition of the Goudreau Property. This includes 40,000 hectares adjacent to its Island gold mine, adding significant exploration potential. Overall, the purchase increases Alamos’ land package around the Island mine to 55,277 hectares. Under the terms of the agreement, Manitou shareholders will receive 0.003525 of an Alamos common share for each Manitou share, representing a value of $0.05 per Manitou share. Alamos currently owns 65.2 million Manitou shares, representing…