Alamos Gold Reports Fourth Quarter and Year-End 2024 Results

Core Viewpoint - Alamos Gold Inc. achieved record operational and financial performance in 2024, with significant increases in production, revenues, and free cash flow, driven by strong operational performances across its mining operations and strategic acquisitions [2][29]. Operational and Financial Highlights - Gold production reached a record 567,000 ounces in 2024, a 7% increase from 2023, meeting revised guidance [4][29]. - Full-year revenues totaled $1.3 billion, a 32$272 million was generated in 2024, funding high-return growth initiatives [4][29]. - Total cash costs for the year were $927 per ounce, with all-in sustaining costs (AISC) at$1,281 per ounce, both in line with guidance [4][29]. Production Breakdown - The Mulatos District produced 205,000 ounces, exceeding guidance by 5%, contributing to mine-site free cash flow of $239.9 million [4][30]. - Island Gold produced 155,000 ounces, meeting the high end of guidance and self-funding all expansion and exploration initiatives [4][30]. - Young-Davidson produced 174,000 ounces, generating record mine-site free cash flow of$140.9 million [4][30]. Mineral Reserves and Resources - Global Mineral Reserves increased by 31% to 14 million ounces, reflecting the acquisition of Magino and ongoing exploration success [3][36]. - Island Gold's Mineral Reserves and Resources increased by 9% to 6.7 million ounces, with significant improvements in grades [37][38]. Growth Initiatives - The company announced a construction decision on the Lynn Lake project, expected to produce 176,000 ounces annually over its first ten years [8][34]. - The Phase 3+ Expansion at Island Gold is on track for completion in the first half of 2026, expected to drive further free cash flow growth [32][43]. - The exploration budget for 2025 is set at $72 million, a 16$327.2 million at year-end 2024, up from $224.8 million at the end of 2023, with total liquidity of approximately$827.2 million [8][47]. - The company paid dividends of $41 million for the full year, maintaining a quarterly dividend of$0.025 per share [8][47]. 2025 Guidance - Production is expected to increase by 7% in 2025, ranging between 580,000 and 630,000 ounces, with AISC projected to decrease by 8% by 2027 [41][43]. - Capital expenditures are expected to increase in 2025 due to development capital for Lynn Lake and PDA projects [44].