Alamos Gold Inc. · TSX:AGI
Alamos Gold — Q4 2024 Earnings Presentation
28 slides from Alamos Gold's earnings presentation, Feb 20, 2025
Slide 1: Fourth Quarter & Year-End 2024 Results Presentation
Fourth Quarter & Year-End 2024 Results Presentation February 20, 2025
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 2024 highlights - record performance
Q4 & full-year 2024 highlights - record performance Production growth (000 oz) Cash flow from operations, Free cash flow (US$M)1 before working capital (US$M)1 Record annual production, 7% growth YoY; met 2024 production & cost 7% 40% $726 120% guidance 567 $272 529 $519 $124 Record cash flow from o
Slide 4: Growing, long-life Canadian production; declining cost profile
Growing, long-life Canadian production; declining cost profile 1,000 $1,400 900 $1,281 $1,275 24% $1,200 $1,175 800 $1,200 production growth expected by 2027 Production (000 oz Au) 700 600 $1,000 ~900k oz 500 longer-term production rate, ~59% growth from 2024 400 $800 300 200 $600 8% 100 decrease in
Slide 5: 2024 highlights & 2025 catalysts
2024 highlights & 2025 catalysts Recent Highlights ✓ Sept 2024: Announced PDA development plan outlining high-return project with upside ✓ Jan 2025: Received Environmental Permit Amendment allowing for PDA construction ✓ Jan 2025: Announced construction decision on the Lynn Lake project ✓ Feb 2025:
Slide 6: Financial highlights: Record performance across all key metrics
Financial highlights Record performance across all key metrics YoY % YoY % Cash flow from operations, before Q4 2024A Q4 2023A Change 2024A 2023A Change working capital (US$M)1 $726 Realized gold price (US$/oz) $2,632 $1,974 33% $2,379 $1,944 22% $519 Operating revenues (US$M) $376 $255 48% $1,347 $
Slide 7: Operational highlights – Island Gold
Operational highlights – Island Gold 2024 2025 Q4 2024A Q4 2023A 2024A 2023A Guidance Guidance4 Production & mine-site AISC1 50 $1,500 Gold production (koz) 39.4 31.6 155.0 131.4 145-155 275 - 300 40 $1,300 Total cash costs, per ounce of gold sold1 $594 $775 $592 $669 $550-600 $725 - 775 $1,100 Mine
Slide 8: Operational highlights – Magino Mine
Operational highlights – Magino Mine H2 2024 Q4 2024A H2 2024A2 updated Guidance2 Magino mill optimization well underway Gold production (000 oz) 16.2 33.0 40-50 • Q3/24: Secondary crusher replaced Total cash costs, per ounce of gold sold1 $1,672 $1,836 $1,450-1,550 Mine-site all-in sustaining costs
Slide 9: Island Gold – Phase 3+ Expansion
Island Gold – Phase 3+ Expansion Headframe Bin House Warehouse Hoist house Water Handling E-house Facility Standby Propane storage Generator Substation Paste plant – January 2025 Construction Progress in Q4 ✓ Water handling facility – completed foundation, steel erection, roof & cladding ✓ Shaft sin
Slide 10: Island Gold Phase 3+ Expansion on track for completion H1 2026
Island Gold Phase 3+ Expansion On track for completion H1 2026 72% of total Phase 3+ growth capital Shaft sink at 1,000 m; ~73% of spent & committed to date2 ultimate planned depth (in US$M) As of December 31, 2024 Growth Capital P3+ Estimate Spent to Committed to % Spent & (including indirects & co
Slide 11: Operational highlights – Young-Davidson
Operational highlights – Young-Davidson 2024 2025 Q4 2024A Q4 2023A 2024A 2023A Production & mine-site AISC1 Guidance Guidance Gold production (koz) 45.7 49.8 174.0 185.1 180-190 175-190 60 $1,700 Total cash costs, per ounce of gold sold1 $955 $920 $1,047 $938 $1,000-1,050 $1,075-1,125 50 $1,500 Min
Slide 12: Operational highlights – Mulatos District
Operational highlights – Mulatos District Q4 Q4 2024 2025 Production & mine-site AISC1 Mulatos District 2024A 2023A 2024A 2023A Guidance Guidance 70 $1,500 Gold production (000 oz) – Mulatos District 38.9 48.1 205.0 212.8 185-195 130-140 60 $1,300 Total cash costs (US$/oz sold)1 $1,113 $957 $935 $88
Slide 13: Lynn Lake + Burnt Timber & Linkwood Projects
Lynn Lake + Burnt Timber & Linkwood Projects Attractive economics with significant exploration upside 2023 Lynn Lake Feasibility Study (MacLellan + Gordon) 2025 Burnt Timber & Linkwood Study 176k oz average annual production $699/oz average mine-site AISC1 $874M after-tax NPV2 at $2,200/oz; + $177M
Slide 14: 2024 Mineral Reserves & Resources
2024 Mineral Reserves & Resources Global Mineral Reserves increase 31%; sixth consecutive year of growth Global Mineral Reserves (000oz)1,2 13,954 14,000 Mineral Reserves increased 31% to 14.0M oz 13,000 Magino 12,000 11,000 10,257 10,455 10,688 • Organic growth beyond addition of Magino: 12% increa
Slide 15: Island Gold: Ongoing exploration success driving growth in size & value
Island Gold Ongoing exploration success driving growth in size & value Mineral Reserve & Resource growth 6.7M oz 7,500 Mineral Reserves M&I Mineral Resources 18 6,500 16 Inferred Mineral Resources Mineral Reserves & Resources2, 9% increase YoY Mineral Reserve grade & 262% increase since 2017 acquisi
Slide 16: Island Gold 2024 Mineral Reserve & Resources additions
Island Gold 2024 Mineral Reserve & Resources additions Significantly higher-grades in Island East driving growth 718k oz increase in Mineral Reserves, Growth within main structure before depletion in 20241,2; 11% increase in grades to 11.4 g/t Au 533k oz addition within 1.1M oz Reserve block grading
Slide 17: Island Gold: Growth & increase in grades supporting larger operation
Island Gold Growth & increase in grades supporting larger, more valuable operation Island Gold District LOM plan (mid-2025) Expansion Study (Q4-2025) Growth since P3+ Expansion Study 7,500 6.7M oz 18 Increase in Ounces: 6,500 P3+ Study 16 5.1M oz 5,500 14 +31% + 71% P3 Study 3,774 Grade (g/t Au) 4,5
Slide 18: 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 2025 Catalysts Lynn Lake Burnt Timber & 31% increase in YE2024 Island
Slide 19: Appendices
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Slide 20: Board of Directors, Executive and Management Team
Board of Directors, Executive and Management Team Board of Directors J. Robert S. Prichard John A. McCluskey Elaine Ellingham David Fleck David Gower Tony Giardini Claire M. C. Kennedy Monique Mercier Shaun Usmar Chairman Director Director Director Director Director Director Director Director Execut
Slide 21: 2025 guidance
2025 guidance 2025 Guidance 2024A Island Young- Mulatos District Lynn Lake Total Total Gold District Davidson Gold production (000 oz) 275 - 300 175 - 190 130 - 140 - 580 - 630 567 Total cash costs1 ($/oz) $725 - 775 $1,075 - 1,125 $925 - 975 - $875 - 925 $927 All-in sustaining costs1 ($/oz) $1,250
Slide 22: 2025 - 2027 guidance
2025 - 2027 guidance1 2025 2026 2027 Current Previous1 Current Previous1 Current Gold Production (000 oz) Island Gold District 275 - 300 275 - 300 330 - 355 330 - 355 375 - 400 Young-Davidson 175 - 190 180 - 195 180 - 195 180 - 195 180 - 195 Mulatos District 130 - 140 120 - 130 120 - 130 120 - 130 1
Slide 23: Total Proven & Probable Mineral Reserves
Total Proven & Probable Mineral Reserves PROVEN AND PROBABLE GOLD RESERVES (as at December 31, 2024) 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) Isla
Slide 24: Total Measured & Indicated Mineral Resources
Total Measured & Indicated Mineral Resources MEASURED AND INDICATED GOLD MINERAL RESOURCES (as at December 31, 2024) 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, 2024) Tonnes Grade Ounces (000's) (g/t Au) (000's) Island Gold 7,106 16.52 3,774 Magino 40,383 0.91 1,177 Young-Davidson - Surface 31 0.99 1 Young-Davidson - Underground 1,880 3.25 197 Total Young-Davidson 1,911 3.2
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 news release. 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: Investor Relations contacts
SCOTT K. PARSONS, CFA SVP, Corporate Development & Investor Relations 416.368.9932 x 5439 ir@alamosgold.com KHALID ELHAJ, P.ENG., CFA VP, Business Development & Investor Relations 416.368.9932 x 5427 ir@alamosgold.com