Alamos Gold Inc. · TSX:AGI
Alamos Gold — Q1 2024 Earnings Presentation
26 slides from Alamos Gold's earnings presentation, Apr 25, 2024
Slide 1: First Quarter 2024 Results Presentation
Magino Open Pit Magino Mill Island Gold Mill Island Gold Portal Island Gold Shaft Area First Quarter 2024 Results Presentation April 25, 2024
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 2024 highlights – on track to achieve full year guidance
Q1 2024 highlights – on track to achieve full year guidance Cash flow from operations, Free cash flow (US$M)1 Production growth (000 oz) before working capital (US$M)1 Production exceeded quarterly guidance; 6% growth YoY 6% 6% 132% 136 $135 128 $127 $24 Costs in line with Q1 guidance & $11 expected
Slide 4: Acquisition of Argonaut Gold
Acquisition of Argonaut Gold Creation of one of Canada’s largest & lowest cost gold mines Island Gold + Magino – one of Canada’s largest & lowest cost mines • >400k oz per year at first quartile costs, post Phase 3+ Expansion • 11.5M oz total Mineral Reserves & Resources1 supporting >19 year mine li
Slide 5: Strategic & financial rationale: synergies through shared infrastructure
Strategic & financial rationale Island Gold + Magino – synergies through shared infrastructure ~$515M1 of synergies expected to be created through integration of adjacent Magino & Island Gold mines Capital savings: ~$140M • through use of central mill & tailings facility at Magino • Island Gold mill
Slide 6: Alamos pro-forma outlook
Alamos pro-forma outlook Growing, long-life Canadian production; declining cost profile 1,000 $1,264 900 $1,204 $1,160 $1,150 $1,143 $1,070 > 900k oz 800 $1,100 $1,025 annual production potential of Alamos 700 pro forma with development of PDA & Production (000 oz Au) Lynn Lake 600 Magino Magino Mag
Slide 7: Q1 2024 highlights & upcoming catalysts
Q1 2024 highlights & upcoming catalysts Q1 2024 highlights ✓ January: announced Orford acquisition, adding highly prospective Qiqavik Gold Project, in Quebec, Canada (transaction closed in April) ✓ February: 2023 YE Mineral Reserves increased 2% to 10.7m oz1,2; 5th consecutive year of growth for com
Slide 8: Financial highlights
Financial highlights YoY % 2024 Cash flow from operations, before Q1 2024A Q1 2023A Change Guidance working capital (US$M)1 Realized gold price (US$/oz) $2,069 $1,896 9% - $135 $127 Operating revenues (US$M) $278 $252 10% - Cash flow from operations (US$M) $109 $94 15% - Cash flow from operations, b
Slide 9: Operational highlights – Young-Davidson
Operational highlights – Young-Davidson Q1 2024A Q1 2023A 2024 Guidance Production & mine-site AISC1 Gold production (koz) 40.1 45.0 180-195 60 $1,800 Total cash costs, per ounce of gold sold1 $1,188 $941 $950-1,000 $1,600 50 Mine-site all-in sustaining costs, $1,400 $1,482 $1,233 $1,175-1,225 40 pe
Slide 10: Operational highlights – Island Gold
Operational highlights – Island Gold Q1 2024A Q1 2023A 2024 Guidance Production & mine-site AISC1 Gold production (koz) 33.4 32.9 145-160 50 $1,500 Total cash costs, per ounce of gold sold1 $706 $629 $550-600 $1,300 40 Mine-site all-in sustaining costs, $1,100 $1,105 $970 $875-925 30 per oz of gold
Slide 11: Island Gold – Phase 3+ Expansion
Island Gold – Phase 3+ Expansion Headframe Construction progress in Q1 ✓ Hoist house & headframe – mechanical and electrical outfitting complete Substation Hoist house ✓ Shaft sinking – advanced to depth of 185m at end of Q1; E-house progressed at rate of 2.5m/day in March ✓ Paste plant – detailed e
Slide 12: Island Gold Phase 3+ Expansion: on track for completion H1 2026
Island Gold Phase 3+ Expansion On track for completion H1 2026 91% of shaft area growth 57% of total Phase 3+ Updated capital estimate Headframe interior at the collar to be provided post closing of elevation with shaft jumbo capital spent & committed growth capital spent & to date committed to date
Slide 13: Strategic & financial rationale: synergies through shared infrastructure
Strategic & financial rationale Island Gold + Magino – synergies through shared infrastructure Significant capital & operating savings through central, optimized Magino mill & tailings facility Magino Mine Magino Mill Island Gold Mine Open pit mill feed Total milling rate Underground mining rate (tp
Slide 14: Operational highlights – Mulatos District
Operational highlights – Mulatos District Mulatos District Q1 2024A Q1 2023A 2024 Guidance Production & mine-site AISC1 Gold production (000 oz) – Mulatos District 62.2 50.5 160-170 $1,500 60 Total cash costs (US$/oz sold)1 $840 $839 $925-975 $1,300 45 $1,100 Mine-site all-in sustaining costs (US$/o
Slide 15: 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 Closing of Argonaut
Slide 16: Appendices
Appendices
Slide 17: 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 18: 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 $950 – 1,000
Slide 19: 2024 guidance: capital budget
2024 guidance: capital budget 2024 Guidance 2023A Sustaining Capital Growth Capital Total Total Operating Mines (US$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 $325 - 3
Slide 20: 2024 - 2026 guidance: operating mines
2024 - 2026 guidance: operating mines1 2024 2025 2026 Gold Production (000 oz) Young-Davidson 180 - 195 180 - 195 180 - 195 Island Gold 145 - 160 170 - 185 220 - 235 Mulatos District 160 - 170 120 - 130 120 - 130 Total Gold Production (000 oz) 485 - 525 470 - 510 520 - 560 Total Cash Costs2 (US$/oz)
Slide 21: 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 22: 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 23: 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 24: 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 25: 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 26: Investor Relations contact
TSX:AGI | NYSE:AGI SCOTT K. PARSONS, CFA SVP, Investor Relations 416.368.9932 x 5439 sparsons@alamosgold.com