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Alamos Gold Inc. (AGI.TO)

Toronto - Toronto Real Time Price. Currency in CAD
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9.18+0.13 (+1.44%)
At close: 03:59PM EDT
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  • J
    Jazenevc
    From Manitoba government communique yesterday “Manitoba government invests $36 million in Burntwood River Bridge rehabilitation. Northern Manitoba Project Will Facilitate Alamos Gold Mine Development and Improve Local Transportation, Transportation and Infrastructure Minister Announces.”
    Start of quote
    As the entrance onto PR 391, the bridge rehabilitation represents an important investment in all-season access for residents of several communities, including Nelson House, Leaf Rapids and Lynn Lake, the latter being the site of the Alamos gold mine exploration project, the minister noted. Once operational, the Alamos gold mine is projected to extract 145,000 ounces of gold per year with an expected mine life of 12 years that would create more than 500 jobs. The company has indicated ore hauling will begin next year, utilizing a significant stretch of PR 391.
    End of quote
    The government does not have to be fully correct about mining details. The company cannot start “ore hauling” next year, but it can start moving construction materials, if Federal government finalizes, at last, Lynn Lake permitting process. Obviously enough, local government supports the project.
  • J
    Jazenevc
    Canada’s Federal government new update on Lynn Lake permitting process.
    Start of quote
    June 10, 2022 — The Impact Assessment Agency of Canada is reviewing the adequacy of the information requested in August and October 2021 and submitted by the proponent on June 8, 2022, related to the Environmental Impact Statement.
    End of quote
    The whole information package is posted on the government site. It is enormous in size and hard to read for an outsider.
    In practical point of view, this is the first official reaction to the process since last October. The whole process goes on since 2017, that’s common in Canada. If the government decides, at last, that the company information is “adequate”, then the EIS approval, aka permitting, could be finalized by end of this year.
  • J
    Jazenevc
    Mexican local press, called Proyecto Puente, confirms La Yaqui start-up, in even more assertive way
    Start of quote (google translated from Spanish)
    On June 16, 2022, the La Yaqui Grande project, owned by Minas de Oro Nacional, a subsidiary of Alamos Gold, announced the completion of its construction and start of operation.
    End of quote
    It looks official.
    Start of quote
    Construction of the new mine was completed ahead of schedule as a result of a dedicated and committed team, and will continue to support 1,650 jobs. This event was attended by several members of the Alamos Gold Inc. Board of Directors, and CEO John A. McCluskey presided over the groundbreaking ceremony. The event was also attended by Luis Carlos Galindo, municipal president of Sahuaripa, and company workers.
    End of quote
    The article provides details of the project, highlighting benefits for Mexican economy.
    Perhaps, the company will make release next week, when CEO returns from Mexican celebrations.
  • J
    Jazenevc
    Mining Journal reported this week
    Start of quote
    Toronto-listed Alamos Gold is planning to bring its La Yaqui Grande gold mine in Mexico into commercial production by next week, slightly ahead of its originally targeted third quarter start-up.
    End of quote
    A long-awaited end of Mulatos transition is getting closer.
  • M
    Mark
    This is one high quality miner with a very bright future - they fully realize just how undervalued their share price currently is and thus conducting a stock buyback program. GLTA!
  • J
    Jazenevc
    The company takes 9.9% stake in Aztec Minerals, small company exploring Cervantes gold/copper project, not far from Mulatos mine.
  • J
    Jazenevc
    FWIW. Mexican government announced intention to block Esperanza project, recently sold by Alamos to Zacatecas Silver. It makes unlikely that Alamos can get anything more than $5M in cash and 12M Zacatecas shares. This is still better than zero. Not sure though whether the deal has been already closed. If it did not then Zacatecas could decide to get out of it.
  • J
    Jazenevc
    Conference call transcript is available. Management was very optimistic practically on all issues. Mulatos transition goes on plan and budget and good amount of new high-grade, high-yield ore already mined. Mulatos operating numbers should already improve in Q2 while full transition to low-cost mining comes in Q3. Canadian mines perform very well, esp. Y-D. Lynn Lake approval goes slower, because of Canadian bureaucracy, but the company is not going to start construction anyway until Island Gold expansion progresses substantially.
    In total, it looks that Q1 was a real low point.
  • J
    Jazenevc
    Dubreiville neighbor, aka Argonaut, got in trouble with money again and, perhaps, someone, aka “market”, got concerned again that Alamos will save them. Perhaps, it caused share underperformance over last 2 days.
  • M
    Market
    Short term, AGI is extremely oversold with the sector.
  • J
    Jazenevc
    New presentation, marked as May 2022, posted on the company website. It looks very positive as it expected to be.
  • J
    Jazenevc
    Upgraded to Outperform at National Bank. Price target C$13.
  • H
    Hawk51168
    John A. McCluskey, President and Chief Executive Officer, stated: “When we first acquired the Island Gold Mine we were aware of its potential. It had 1.8 million ounces of Mineral Reserves and Resources, and through exploration investment we have increased this high-grade deposit to 5.1 million ounces of Mineral Reserves and Resources. By further investing in the Phase III expansion, we will more than double the mine life. This mine will be an economic engine for this region for years to come, and positively impact the closest town of Dubreuilville and surrounding communities.” This is very impressive.
  • J
    Jazenevc
    It can be expected that new exploration results from Island Gold will be published soon. The earnings release mentions continuing drilling there. This drilling used to produce impressive results. Perhaps, management decides to release them after the report to cheer up investors.
  • J
    Jazenevc
    Earnings report this week. Analyst estimates set low. The company has a good chance to beat them, though forward guidance will be more important.
  • R
    Randy Hundley
    “The addition of a shaft connected to low-carbon intensity grid power in Ontario will support higher mining rates with a smaller mobile fleet of haul trucks resulting in significantly lower diesel consumption. This is expected to drive a 35% reduction in greenhouse gas emissions over the Phase III mine life.”

    Green house gas emissions?? Alamos management thinks CO2 is a green gas. They believe in global warming. Too funny.

    Hey Alamos management, read this and learn something:

    Temperature is a number representative of the sum of the kinetic energies of the molecules in the system. It is essentially Dalton’s Law applied to T rather than P. 

    If a molecule has a small presence in the sample being measured, it therefore will have a small contribution to the overall temperature of that sample. 

    CO2 is present in the atmosphere at 0.03% based on volume. The amount of CO2 produced by man is small fraction of this number.  Thus CO2 makes no significant contribution to the temperature of the planet’s atmosphere.  In other words, if you removed all CO2 from the atmosphere, you would not notice any temperature change.

    Further CO2 is the heaviest molecule in the atmosphere with one insignificant exception. As such, CO2 resides down at the surface. At this location. it can make no contribution to a greenhouse effect.
  • H
    Hawk51168
    With POG over $1900, Q1 earning should be very good and only two weeks away.
  • J
    Jazenevc
    It was upgraded today to Buy at Canaccord, after the conference call.
  • J
    Jazenevc
    The only good thing about this quarter is that it has ended and, hopefully, the company will never post again these weak numbers. Hopefully, tomorrow will be a good day for gold sector. The stock will need in some help from the market, taking forward-looking view through present picture.
  • J
    Jazenevc
    Price target raised by National Bank from C$11 to C$13.
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