Alamos Gold Inc. · TSX:AGI
Alamos Gold — Q4 2023 Earnings Presentation
28 slides from Alamos Gold's earnings presentation, Feb 22, 2024
Slide 1: Fourth Quarter & Year-End 2023 Results Presentation
Fourth Quarter & Year-End 2023 Results Presentation February 22, 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: Q4 & full-year 2023 highlights
Q4 & full-year 2023 highlights Production growth (000 oz) Cash flow from operations, Free cash flow (US$M)1 before working capital (US$M)1 Record annual production; met 15% $124 increased guidance; 15% growth YoY 529 44% 460 $519 $362 Costs down 4% YoY; met 2023 guidance ($15) 2022 2023 2022 2023 20
Slide 4: Production: growing, long-life North American production; declining cost profile
Growing, long-life North American production; declining cost profile $1,204 900 $1,160 $1,150 ~800k oz 1,200 $1,100 $1,025 800 1,000 annual production potential with 700 development of PDA & Lynn Lake 800 11% 600 Production (000 oz Au) 500 600 decrease in AISC by 2026 driven by 400 $345 low-cost gro
Slide 5: Growth initiatives – 2023 highlights & 2024 catalysts
Growth initiatives – 2023 highlights & 2024 catalysts 2023 Highlights ✓ Island Gold, PDA and Lynn Lake exploration updates ✓ Lynn Lake Feasibility Study (August) – outlined larger, longer-life, low-cost operation with attractive economics & significant exploration upside ✓ Island Gold - completed sh
Slide 6: Financial highlights
Financial highlights YoY % YoY % 2023 Cash flow from operations, before Q4 2023A Q4 2022A 2023A 2022A Change Change Guidance working capital (US$M)1 Realized gold price (US$/oz) $1,974 $1,741 13% $1,944 $1,799 8% - $519 Operating revenues (US$M) $255 $232 10% $1,023 $821 25% - $362 Cash flow from op
Slide 7: Operational highlights – Young-Davidson
Operational highlights – Young-Davidson 2023 2024 Q4 2023A Q4 2022A 2023A 2022A Production & mine-site AISC1 Guidance Guidance Gold production (koz) 49.8 44.6 185.1 192.2 185-200 180-195 60 $1,700 Total cash costs, per ounce of gold sold1 $920 $942 $938 $878 $900-950 $950-1,000 50 $1,500 Mine-site a
Slide 8: Operational highlights – Island Gold
Operational highlights – Island Gold 2023 2024 Q4 2023A Q4 2022A 2023A 2022A Guidance Guidance Production & mine-site AISC1 Gold production (koz) 31.6 40.5 131.4 133.7 120-135 145-160 50 $1,500 Total cash costs, per ounce of gold sold1 $775 $605 $669 $637 $600-650 $550-600 40 $1,300 Mine-site all-in
Slide 9: Island Gold – Phase 3+ Expansion
Island Gold – Phase 3+ Expansion Headframe Construction Progress in Q4 ✓ Shaft sinking – started in December ✓ Grid power tie-in for the shaft site and upgraded voltage regulation facility – completed ✓ Hoist house and headframe mechanical and electrical Hoist house outfitting – substantially comple
Slide 10: Island Gold Phase 3+ Expansion On track for completion H1 2026
Island Gold Phase 3+ Expansion On track for completion H1 2026 90% of shaft area 51% of total Phase 3+ Shaft sinking commenced growth capital spent & growth capital spent & December 2023 – current committed to date committed to date depth ~90m (in US$M) As of December 31, 2023 Growth Capital P3+ 240
Slide 11: Operational highlights – Mulatos District
Operational highlights – Mulatos District Q4 Q4 2023 2024 Production & mine-site AISC1 Mulatos District 2023A 2022A 2023A 2022A Guidance Guidance Gold production (000 oz) – Mulatos District 48.1 49.1 212.8 134.5 175-185 160-170 $1,500 60 Total cash costs (US$/oz sold)1 $957 $851 $883 $1,134 $900-950
Slide 12: 2023 Mineral Reserves & Resources increased across all categories
2023 Mineral Reserves & Resources increased across all categories Mineral Reserves1 Growing in Size & Quality Mineral Reserves increased 2% to 10.7M oz; grades increased 1% 1.63 1.65 12,000 1.70 11,000 1.58 • Island Gold: 18% increase, marking 11th year of consecutive growth 1.51 1.49 1.50 10,000 9,
Slide 13: Island Gold: ongoing exploration success driving growth in size & value
Island Gold Ongoing exploration success driving growth in size & value Mineral Reserve & Resource growth 6.1M oz 6,500 Mineral Reserves M&I Mineral Resources 16 Inferred Mineral Resources total Mineral Reserves & Resources2, a 233% Mineral Reserve grade increase since 2017 acquisition 5,500 14 Infer
Slide 14: Island Gold main structure 2023 Mineral Reserve & Resource Additions
Island Gold main structure 2023 Mineral Reserve & Resource Additions 1M oz of high-grade Mineral Reserves and Resources added, before depletion1 Low-cost to develop & produce; additions in proximity to existing infrastructure Significant ongoing upside with main structure open laterally & down plung
Slide 15: Island Gold Hanging Wall & Footwall
Island Gold Hanging Wall & Footwall Significant growth within recently defined zones ~70% of additions within HW & FW zones • >630k oz high-grade Mineral Reserves & Resources added • Low-cost to develop: 10-150m from main structure Recently defined zones driving growth • NTH: 146 oz total Mineral Re
Slide 16: Puerto Del Aire Continues to Increase in Size & Grade
Puerto Del Aire Continues to Increase in Size & Grade 33% 16% 55 km Significant ongoing growth potential; deposit open in Low development cost; adjacent to main Mulatos Development plan in Q1 2024 multiple directions open pit increase in Mineral increase in Reserve 2024 exploration drill Reserves Yo
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 PDA development Island Gold & Mulat
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
2024 guidance 2024 Guidance 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)1 — — — — $620 $638 Cost of sales (US$/oz)1 — — — — $1,225 $1,212 Total cash costs (US$/oz)2 $950 – 1,000
Slide 21: 2024 guidance: capital budget
2024 guidance: capital budget 2024 Guidance 2023A Sustaining Capital Growth Capital Total Total Operating Mines (US$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 $232 - 260 $325 - 3
Slide 22: 2024 - 2026 guidance: operating mines
2024 - 2026 guidance: operating mines1 2024 2025 2026 Gold Production (000 oz) Young-Davidson 180 - 195 180 - 195 180 - 195 Island Gold 145 - 160 170 - 185 220 - 235 Mulatos District 160 - 170 120 - 130 120 - 130 Total Gold Production (000 oz) 485 - 525 470 - 510 520 - 560 Total Cash Costs2 (US$/oz)
Slide 23: 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 24: 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 25: 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 26: 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 27: 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 28: TSX:AGI | NYSE:AGI 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