The following is a summary of the Alamos Gold Inc. (AGI) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Alamos Gold reported Q1 production of 135,700 ounces, generating a record quarterly revenue of $280 million.

• The company generated a net free cash flow of $24 million after accounting for $45 million in cash tax payments in Mexico.

• They reported Q1 operating cash flow before changes and noncash working capital of $135 million, equivalent to $0.34 per share.

• Alamos Gold increased its cash balance by 7% from year-end, reaching $240 million and remaining debt-free.

• It reported net earnings of $42 million in Q1, equivalent to $0.11 per share.

Business Progress:

• Alamos Gold exceeded its quarterly guidance, largely due to strong performance at La Yaqui Grande.

• Alamos announced the acquisition of Argonaut Gold and its Magino mine, which they expect to generate significant value, including pretax synergies of $515 million.

• The combination of the Island Gold and Magino mines is set to create one of the largest, lowest-cost, and most profitable gold mines in Canada.

• The addition of Magino is projected to increase production by over 20% to over 600,000 ounces per year.

• Long-term plans include the development of Lynn Lake and PDA, which could push yearly gold production over 900,000 ounces.

• Progress has been made on the Phase 3+ expansion at Island Gold, which is expected to be completed in H1 2026.

• The company completed the acquisition of Orford Mines and its Qiqavik Gold Project, providing a promising exploration stage project.

More details: Alamos Gold IR

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