Alamos Gold Inc. · TSX:AGI
Alamos Gold — Q2 2024 Earnings Presentation
29 slides from Alamos Gold's earnings presentation, Aug 1, 2024
Slide 1: Second Quarter 2024 Results Presentation
Island Gold Portal Magino Mill Magino Open Pit Island Gold Shaft Area Second Quarter 2024 Results Presentation August 1, 2024 1
Slide 2: Cautionary notes
Cautionary notes This presentation, the information contained herein, any other materials provided in connection with this presentation and any oral remarks accompanying this presentation (collectively, the “Presentation”), has been prepared by Alamos Gold Inc. (“Alamos” or the “Company”) solely for
Slide 3: Q2 2024 highlights
Q2 2024 highlights Record quarter; on track to achieve full year guidance Production growth (000 oz) Cash flow from operations, Free cash flow (US$M)1 before working capital (US$M)1 Record production; exceeded 2% 74% quarterly guidance 139 38% $107 136 135 136 $191 130 $138 $133 $135 $62 $120 AISC d
Slide 4: Acquisition of Argonaut Gold
Acquisition of Argonaut Gold Creation of one of Canada’s largest & lowest cost gold mines >400k oz 11.3M oz ~$515M Significant upside per year at first quartile costs, total Mineral Reserves & Resources1 synergies3 expected to be created potential through expansion of single post Phase 3+ Expansion
Slide 5: Growing, long-life Canadian production; declining cost profile
Growing, long-life Canadian production; declining cost profile 1,000 $1,204 > 900k oz $1,160 $1,150 $1,100 $1,200 900 $1,025 800 $1,000 annual production potential with 700 development of PDA & Lynn Lake Production (000 oz Au) $800 600 Magino Magino Magino Magino $600 500 400 $400 Declining costs 30
Slide 6: Q2 2024 highlights & upcoming catalysts
Q2 2024 highlights & upcoming catalysts Q2 & Recent highlights ✓ May - Young-Davidson exploration update: new style of high-grade mineralization intersected in zones within hanging wall ✓ July - completion of Argonaut acquisition ✓ July - majority of Argonaut hedge book eliminated, providing increas
Slide 7: Financial highlights
Financial highlights Q2 2024A Q2 2023A YoY % Q2 2024A Q2 2023A YoY % 2024 Cash flow from operations, before Change YTD YTD Change Guidance working capital (US$M)1 Realized gold price (US$/oz) $2,336 $1,978 18% $2,207 $1,937 14% - $326 $266 Operating revenues (US$M) $333 $261 27% $610 $513 19% - $191
Slide 8: Operational highlights – Young-Davidson
Operational highlights – Young-Davidson Q2 2024A Q2 2023A 2024 Q2 2024A Q2 2023A Production & mine-site AISC1 YTD YTD Guidance 60 $1,700 Gold production (koz) 44.0 45.2 84.1 90.2 180-195 50 $1,500 Total cash costs, per ounce of gold sold1 $1,030 $955 $1,104 $948 $950-1,000 40 $1,300 Mine-site all-in
Slide 9: Operational highlights – Island Gold
Operational highlights – Island Gold Q2 2024A Q2 2023A 2024 Q2 2024A Q2 2023A YTD YTD Guidance Production & mine-site AISC1 Gold production (koz) 41.7 30.5 75.1 63.4 145-160 50 $1,500 Total cash costs, per ounce of gold sold1 40 $1,300 $493 $678 $591 $651 $550-600 $1,100 Mine-site all-in sustaining
Slide 10: Operational highlights – Magino Mine
Operational highlights – Magino Mine Performance prior to acquisition (acquisition completed on July 12, 2024) Q1 2024A Q2 2024A Gold Production (koz) 16.9 22.7 Mining rates (ore + waste) (tpd) 51,703 53,208 Mining rates (ore) (tpd) 13,175 16,328 Mill throughput (tpd) 6,308 8,370 Grades processed (g
Slide 11: Island Gold Phase 3+ Expansion
Island Gold Phase 3+ Expansion Construction progress in Q2 ✓ Shaft sinking – advanced to depth of 403m at end of Q2 ✓ Buried Services – completed ✓ Upgraded voltage regulation facility – commissioned ✓ Bin house – construction underway Headframe – July 2024 ✓ Paste plant – detailed engineering 90% c
Slide 12: Island Gold Phase 3+ Expansion
Island Gold Phase 3+ Expansion 60% of total Phase 3+ growth capital spent & Expansion on track to be completed committed to date2 H1 2026 (in US$M) As of June 30, 2024 Growth Capital Committed to % Spent & Hoist house – July 2024 P3+ 24001 Spent to date2 (including indirects & contingency) date Comm
Slide 13: Operational highlights – Mulatos District
Operational highlights – Mulatos District Q2 2024A Q2 2023A 2024 Production & mine-site AISC1 Mulatos District Q2 2024A Q2 2023A YTD YTD Guidance 70 $1,500 Gold production (000 oz) – Mulatos District 53.4 60.3 115.6 110.8 160-170 60 $1,300 Total cash costs (US$/oz sold)1 $907 $847 $873 $843 $925-975
Slide 14: Young-Davidson 2024 exploration highlights
Young-Davidson 2024 exploration highlights High-grade mineralization intersected near existing infrastructure New style of higher-grade mineralization outside of the syenite that hosts majority of Reserves & Resources at YD Zones located 10 - 200 m south of existing infrastructure Potential to provi
Slide 15: Island Gold 2024 exploration highlights
Island Gold 2024 exploration highlights Ongoing success driving growth in Mineral Reserves & Resources 1M oz increase in Mineral Reserves & Ongoing exploration success expected Growth in proximity to existing underground Resources, before depletion in 20231 to drive further growth in 20242 infrastru
Slide 16: Island Gold District 2024 exploration highlights
Island Gold District 2024 exploration highlights Defining longer-term, near mine upside opportunities North Shear underground target High-grade gold mineralization intersected north & west of the Island Gold deposit 2 km from Magino mill with bulk underground mining potential Longer-term opportunity
Slide 17: Alamos Gold – value creation opportunities
Alamos Gold – value creation opportunities Growing, diversified, Expanding margins Conservative, Sustainable business intermediate gold & profitability low-risk strategy model supporting growing producer returns over the long-term 2024 Catalysts Increase in YE2023 Young-Davidson • Argonaut acquisiti
Slide 18: Appendices
Appendices
Slide 19: Board of Directors, Executive and Management Team
Board of Directors, Executive and Management Team Board of Directors Paul J. Murphy John A. McCluskey Elaine Ellingham David Fleck David Gower Claire M. C. Kennedy Monique Mercier J. Robert S. Prichard Shaun Usmar Chairman Director Director Director Director Director Director Director Director Execu
Slide 20: 2024 guidance (excluding Magino)
2024 guidance (excluding Magino) 2024 Guidance1 2023A Young-Davidson Island Gold Mulatos Lynn Lake Total Total Gold production guidance (000 oz Au) 180 - 195 145 - 160 160 - 170 — 485 - 525 529 Cost of sales (US$M)2 — — — — $620 $638 Cost of sales (US$/oz)2 — — — — $1,225 $1,212 Total cash costs (US
Slide 21: 2024 guidance: capital budget (excluding Magino)
2024 guidance: capital budget (excluding Magino) 2024 Guidance1 2023A Sustaining Capital Growth Capital Total Total Operating Mines (US$M) Young-Davidson $40 - 45 $20 - 25 $60 - 70 $62 Island Gold $50 - 55 $210 - 230 $260 - 285 $222 Mulatos $3 – 5 $2 - 5 $5 - 10 $19 Total – Operating Mines $93 - 105
Slide 22: 2024 - 2026 guidance: operating mines (excluding Magino)
2024 - 2026 guidance: operating mines1,2 (excluding Magino) 2024 2025 2026 Gold Production (000 oz) Young-Davidson 180 - 195 180 - 195 180 - 195 Island Gold 145 - 160 170 - 185 220 - 235 Mulatos District 160 - 170 120 - 130 120 - 130 Total Gold Production (000 oz) 485 - 525 470 - 510 520 - 560 Total
Slide 23: Eliminated majority of Argonaut Gold hedge book
Eliminated majority of Argonaut Gold hedge book Significant increase in exposure to higher gold prices Argonaut Gold Forward Alamos Gold Forward Sales Contracts Sales Contracts Gold prepayment utilized to eliminate forward contracts (Pre-Transaction) (Post-transaction) totaling 180k oz in 2024 & 202
Slide 24: Total Proven & Probable Mineral Reserves
Total Proven & Probable Mineral Reserves PROVEN AND PROBABLE GOLD RESERVES (as at December 31, 2023) Proven Reserves Probable Reserves Total Proven and Probable Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (000's) (g/t Au) (000's) (000's) (g/t Au) (000's) (000's) (g/t Au) (000's) Youn
Slide 25: Total Measured & Indicated Mineral Resources
Total Measured & Indicated Mineral Resources MEASURED AND INDICATED GOLD MINERAL RESOURCES (as at December 31, 2023) Measured Resources Indicated Resources Total Measured and Indicated Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces (000's) (g/t Au) (000's) (000's) (g/t Au) (000's) (000'
Slide 26: Total Inferred Mineral Resources
Total Inferred Mineral Resources INFERRED GOLD MINERAL RESOURCES (as at December 31, 2023) Tonnes Grade Ounces (000's) (g/t Au) (000's) Young-Davidson - Surface 31 0.99 1 Young-Davidson - Underground 1,350 3.31 144 Total Young-Davidson 1,381 3.26 145 Golden Arrow 2,028 1.07 70 Island Gold 7,857 14.5
Slide 27: Notes to Mineral Reserve and Resource estimates
Notes to Mineral Reserve and Resource estimates Qualified Persons Chris Bostwick, FAusIMM, Alamos Gold’s Senior Vice President, Technical Services, has reviewed and approved the scientific and technical information contained in this Presentation. Chris Bostwick is a Qualified Person within the meani
Slide 28: Cautionary Note to U.S. Investors
Cautionary Note to U.S. Investors Alamos prepares its disclosure in accordance with the requirements of securities laws in effect in Canada. Unless otherwise indicated, all Mineral Resource and Mineral Reserve estimates included in this Presentation have been prepared in accordance with National Ins
Slide 29: Scott K. Parsons, SVP, Investor Relations
TSX:AGI | NYSE:AGI SCOTT K. PARSONS, CFA SVP, Investor Relations 416.368.9932 x 5439 sparsons@alamosgold.com