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The miner produced 139,100 ounces of gold, compared with its targeted 123,000-133,000 oz, driven by solid performances from its Island Gold mine in Ontario and La Yagui Grande mine in Mexico.
Combined with lower costs, the company achieved a record-free cash flow of $106.9 million in the second quarter, up more than 300% from the first quarter of 2024, while continuing to fund the Phase 3+ Expansion at Island Gold. “The expansion is progressing well and remains on track to be completed during the first half of 2026,” said Alamos CEO John A. McCluskey.earlier this month, the integration of the Magino and Island Gold mines is well underway. Given their proximity, the integration of the two operations is expected to create one of the largest and lowest cost gold mines in Canada,”, Alamos delivered record revenue of $332.6 million in Q2, a 27% year-on-year increase.
“We remain well positioned to achieve full-year guidance and deliver significant production growth at declining costs over the next several years,” said McCluskey. Shares of Alamos Gold rose 5.1% by 10:20 a.m. EDT in Toronto. The miner has a market capitalization of C$9.71 billion .No mining entity listed on the ASX will be exempt from the changes, which are expected to take effect next year, according to JORC committee chair.Receipt of the few remaining approvals and permits required for construction is expected in the coming months, the company said.
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