Alamos Gold Inc. · TSX:AGI
Alamos Gold — Q3 2023 Earnings Presentation
25 slides from Alamos Gold's earnings presentation, Oct 26, 2023
Slide 1: Third Quarter 2023 Results Presentation
Third Quarter 2023 Results Presentation October 26, 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: Q3 2023 highlights – full year production guidance increased
Q3 2023 highlights – full year production guidance increased Q3 Q3 2023 Guidance • Production exceeded quarterly guidance, 10% Q3 2023A Q3 2022A YoY % Change 2023A 2022A YoY % Change YTD YTD Revised Original increase YoY Gold production (000 oz) 135.4 123.4 10% 399.8 326.2 23% 515-530 480-520 • Prod
Slide 4: Q3 2023 highlights & upcoming catalysts
Q3 2023 highlights & upcoming catalysts Q3 2023 highlights ✓ Increased annual production guidance 5% – driven by solid YTD outperformance from Mulatos ✓ Lynn Lake Feasibility Study (August) – updated study outlined larger, longer-life, low- cost operation with attractive economics & significant expl
Slide 5: Financial highlights – on pace for record year
Financial highlights – on pace for record year Q3 2023A Q3 2022A YoY % Q3 2023A Q3 2022A YoY % 2023 Cash flow from operations, before Change YTD YTD Change Guidance changes in working capital (US$M)1 Realized gold price (US$/oz) $1,932 $1,740 11% $1,935 $1,822 6% - $339 Operating revenues (US$M) $25
Slide 6: Operational highlights – Young-Davidson
Operational highlights – Young-Davidson Q3 2023A Q3 2022A 2023 Production & mine-site AISC1 Q3 2023A Q3 2022A YTD YTD Guidance Gold production (000 oz) 45.1 49.3 135.3 147.6 185-200 60 $1,700 Total cash costs (US$/oz sold)1 $939 $870 $945 $858 $900-950 50 $1,500 40 $1,300 Mine-site all-in sustaining
Slide 7: Operational highlights – Island Gold
Operational highlights – Island Gold Q3 2023A Q3 2022A 2023 Production & mine-site AISC1 Q3 2023A Q3 2022A YTD YTD Guidance Gold production (000 oz) 36.4 31.4 99.8 93.2 120-135 50 $1,500 Total cash costs (US$/oz sold)1 $1,300 $610 $651 $636 $650 $600-650 40 $1,100 Mine-site all-in sustaining costs (
Slide 8: Island Gold – Phase 3+ Expansion
Island Gold – Phase 3+ Expansion Construction progress in Q3 Headframe ✓ Shaft area substation - substantially complete & connected to the Island Gold substation Warehouse ✓ Headframe - construction substantially complete Hoist house ✓ Galloway - outfitting over 50% complete ✓ E-house electrical sys
Slide 9: Phase 3+ Expansion growth capital – on track & on budget
Phase 3+ Expansion growth capital – on track & on budget (in US$M) As of Sept 30, 2023 P3+ 2400 Spent to Committed % Spent & Growth Capital (including indirects & contingency) as of Jan 2022 1 date1,2 to date1 Committed 88% of shaft area growth capital Shaft & Shaft Surface Complex 229 118 83 88% sp
Slide 10: Operational highlights – Mulatos District
Operational highlights – Mulatos District Q3 2023A Q3 2022A 2023 Mulatos District Q3 2023A Q3 2022A YTD YTD Guidance Production & mine-site AISC1 Gold production (000 oz) – Mulatos District 53.9 42.7 164.7 85.4 175-185 60 $1,800 Total cash costs (US$/oz sold)1 $898 $1,028 $861 $1,298 $900-950 50 $1,
Slide 11: Lynn Lake Project – 2023 Feasibility Study highlights
Lynn Lake Project – 2023 Feasibility Study highlights Higher production Lower-cost Attractive economics Significantly de-risked 176k oz $699/oz $670M EIS approved average annual production over initial average mine-site AISC2 over initial 10 good infrastructure; advanced level of after-tax NPV3 at $
Slide 12: Lynn Lake Project – significant exploration upside
Lynn Lake Project – significant exploration upside Pipeline of regional targets within trucking distance of planned MacLellan mill Burnt Timber & Linkwood: ~28km from mill o 1.6M oz Inferred Mineral Resource1 o potential for smaller, higher-quality Mineral Resource Maynard target: ~20km from mill o
Slide 13: Mulatos District – September exploration update
Mulatos District – September exploration update Puerto Del Aire (PDA) – growing, higher-grade underground deposit Capulin Target – regional potential1 • 1M oz of higher-grade Mineral Reserves & Resources at YE 20221, up 71% YoY • Wide, significant intervals of gold mineralization intersected • Drill
Slide 14: 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$/oz) 60% ✓ Low-risk jurisdictions 40% ✓ Fully funded, high-return growth 20% ✓ Expanding margins & profitability 0% ✓ Strong ongoing free cash flow
Slide 15: Appendices
Appendices Appendices Appendices TSX:AGI ǀ NYSE:AGI 15
Slide 16: Board of Directors, Executive and Management Team
Board of Directors, Executive and Management Team Board of Directors Paul J. Murphy John A. McCluskey Elaine Ellingham David Fleck David Gower Claire M. C. Kennedy Monique Mercier J. Robert S. Prichard Shaun Usmar Chairman Director Director Director Director Director Director Director Director Execu
Slide 17: 2023 guidance
2023 guidance 2023 Guidance 2022A Young-Davidson Island Gold Mulatos Lynn Lake Total Total Revised production guidance (000 oz Au) 515 - 530 460 Original production guidance (000 oz Au) 185 - 200 120 - 135 175 - 185 — 480 - 520 460 Cost of sales (US$M)3 — — — — $625 $609 Cost of sales (US$/oz)3 — —
Slide 18: 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 19: 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 20: 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 21: 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 22: 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 23: 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 24: 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 25: Scott K. Parsons, CFA
Scott K. Parsons, CFA SVP, Investor Relations 416.368.9932 x 5439 sparsons@alamosgold.com