Alamos Gold Inc. · TSX:AGI
Alamos Gold — Q1 2023 Earnings Presentation
24 slides from Alamos Gold's earnings presentation, Apr 27, 2023
Slide 1: First Quarter 2023 Results Presentation
First Quarter 2023 Results Presentation April 27, 2023
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: Q1 2023 highlights
Q1 2023 highlights Q1 2023A Q1 2022A YoY % Change 2023 Guidance • Production exceeded quarterly guidance; 30% increase YoY Gold production (000 oz) 128.4 98.9 30% 480-520 • Costs consistent with annual guidance, AISC 1,2 Gold sales (000 oz) 132.7 98.5 35% - 14% lower YoY Total cash costs (US$/oz)1 $
Slide 4: Q1 2023 highlights & upcoming catalysts
Q1 2023 highlights & upcoming catalysts Manitou acquisition to more than triple ✓ Q1 2023 highlights Island Gold regional land package - Feb 2023 ✓ Feb: Mineral Reserve update: 2% increase to 10.5M oz; 3% higher grades1 ✓ Feb: Manitou Gold acquisition to more than triple Island Gold regional land pa
Slide 5: Production (000 oz Au)
Growing, long-life North American production; declining cost profile 800 $1,204 $1,150 Lynn Lake4 700 $1,025 $1,000 13 year reserve life3 Production (000 oz Au) 600 500 Island Gold 17 year mine life3 400 300 Mulatos (excluding PDA) 5 year reserve life3,5 200 100 Young-Davidson 15 year reserve life3
Slide 6: Fully funded growth with strong ongoing free cash flow
Fully funded growth with strong ongoing free cash flow Consolidated free cash flow outlook (US$M)1,2 $200 $150 $100 $50 $0 2023E 2024E 2025E 2026+ US$1,750/oz Au US$1,850/oz Au US$1,950/oz Au Balanced approach to growth – no Strong ongoing free cash flow Significant free cash flow significant capita
Slide 7: Financial highlights
Financial highlights Cash flow from operations, before Q1 2023A Q1 2022A YoY % Change 2023 Guidance changes in working capital (US$M) 1 $127 Realized gold price (US$/oz) $1,896 $1,874 1% - $109 $96 Operating revenues (US$M) $252 $185 36% - $85 $71 Cash flow from operations (US$M) $94 $47 103% - Cash
Slide 8: Operational highlights – Young-Davidson
Operational highlights – Young-Davidson Q1 2023A Q1 2022A 2023 Guidance Production & mine-site AISC1 Gold production (000 oz) 45.0 51.9 185-200 60 $1,700 Total cash costs (US$/oz)1 $941 $840 $900-950 50 $1,500 40 $1,300 Mine-site all-in sustaining costs (US$/oz)1 $1,233 $1,044 $1,175-1,225 30 $1,100
Slide 9: Operational highlights – Island Gold
Operational highlights – Island Gold Production & mine-site AISC1 Q1 2023A Q1 2022A 2023 Guidance 50 $1,500 Gold production (000 oz) 32.9 24.5 120-135 40 $1,300 Total cash costs (US$/oz)1 $629 $745 $600-650 $1,100 Mine-site all-in sustaining costs (US$/oz)1 $970 $1,083 $950-1,000 30 $900 Capital exp
Slide 10: Island Gold – Phase 3+ expansion progress in Q1 2023
Island Gold – Phase 3+ expansion progress in Q1 2023 Construction progress in Q1 ✓ 44kV powerline - installation to shaft area substation location ✓ Hoist house - building steel erection & external cladding completed ✓ Buried services - in vicinity of hoist Shaft site area - April 2023 Winch pad are
Slide 11: Operational highlights – Mulatos
Operational highlights – Mulatos Mulatos District Q1 2023A Q1 2022A 2023 Guidance Production & mine-site AISC1 Gold production (000 oz) – Mulatos District 50.5 22.5 175-185 60 $1,800 Total cash costs (US$/oz sold)1 $839 $1,570 $900-950 50 $1,500 Mine-site all-in sustaining costs (US$/oz sold)1 $914
Slide 12: Mulatos District – La Yaqui Grande driving strong free cash flow growth
Mulatos District – La Yaqui Grande driving strong free cash flow growth La Yaqui Grande: Near-term value driver - strong Q1/23 performance 38k oz 11k tpd $37M produced in Q1, 3% stacking rate; exceeded Mulatos District mine- increase from Q4/22 design capacity of 10k tpd site free cash flow1 Puerto
Slide 13: Uniquely positioned – growing intermediate gold producer in low-risk jurisdictions
Uniquely positioned – growing intermediate gold producer in low-risk jurisdictions 80% ✓ High-quality, long-life operations AGI - NYSE GDX GDXJ Gold (US$/oz) 60% ✓ Low-risk jurisdictions 40% ✓ Fully funded, high-return growth 20% ✓ Expanding margins & profitability 0% ✓ Strong ongoing free cash flow
Slide 14: Appendices
Appendices Appendices TSX:AGI ǀ NYSE:AGI 14
Slide 15: 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 Kenneth Stowe Chairman Director Director Director Director Director Director Director Director Exe
Slide 16: 2023 guidance
2023 guidance 2023 Guidance 2022A Young-Davidson Island Gold Mulatos Lynn Lake Total Total Gold production (000 oz) 185 - 200 120 - 135 175 - 185 — 480 - 520 460 Cost of sales (US$M)3 — — — — $625 $609 Cost of sales (US$/oz)3 — — — — $1,250 $1,334 Total cash costs (US$/oz)1 $900 - 950 $600 - 650 $90
Slide 17: 2023 guidance: capital budget
2023 guidance: capital budget 2023 Guidance 2022A Sustaining Capital Growth Capital Total Total Operating Mines (US$M) Young-Davidson $50 - 55 $5 - 10 $55 - 65 $67 Island Gold $45 - 50 $165 - 185 $210 - 235 $139 Mulatos $10 $5 - 10 $15 - 20 $60 Total – Operating Mines $105 - 115 $175 - 205 $280 - 32
Slide 18: 2023 - 2025 guidance: operating mines
2023 - 2025 guidance: operating mines1 2023 2024 2025 Current Previous Current Previous Current Gold Production (000 oz) Young-Davidson 185 - 200 185 - 200 185 - 200 185 - 200 185 - 200 Island Gold 120 - 135 115 - 125 145 - 160 140 - 155 175 - 190 Mulatos District 175 - 185 160 - 175 140 - 150 135 -
Slide 19: Total Proven & Probable Mineral Reserves
Total Proven & Probable Mineral Reserves PROVEN AND PROBABLE GOLD MINERAL RESERVES (as at December 31, 2022) 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
Slide 20: Total Measured & Indicated Mineral Resources
Total Measured & Indicated Mineral Resources MEASURED AND INDICATED GOLD MINERAL RESOURCES (as at December 31, 2022) 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 21: Total Inferred Mineral Resources
Total Inferred Mineral Resources INFERRED GOLD MINERAL RESOURCES (as at December 31, 2022) Tonnes Grade Ounces (000's) (g/t Au) (000's) Young-Davidson - Surface 31 0.99 1 Young-Davidson - Underground 1,586 2.89 147 Total Young-Davidson 1,617 2.85 148 Golden Arrow 2,028 1.07 70 Island Gold 8,066 13.6
Slide 22: 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 news release. Chris Bostwick is a Qualified Person within the meani
Slide 23: 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 24: Scott K. Parsons, CFA
Scott K. Parsons, CFA SVP, Investor Relations 416.368.9932 x 5439 sparsons@alamosgold.com