Minera Alamos is a gold production and development Company finishing the pre-commercial ramp up of its first gold mine that produced its first gold in October 2021. The Company has a portfolio of high-quality Mexican assets, including the 100%-owned Santana open-pit, heap-leach mine in Sonora built for just US$10 million.
Our next planned mine, the 100%-owned Cerro de Oro oxide gold project in northern Zacatecas should shortly enter the permitting process. Cerro de Oro is another low cost mine construction with sub US$30 m upfront capex and an initial 8.2 yr mine life averaging close to 60,000 oz/y at sub $900/oz AISC. Santana and Cerro de Oro combined should allow the Company to meet its short-term goal of 100,000 oz/y gold production. Finally, The La Fortuna open pit gold project in Durango (100%-owned) has a robust and positive preliminary economic assessment (PEA) completed (in 2018 capex was estimated at sub US$27 million and AISC of $440/oz for an initial 50,000 oz/y operation using $1250/oz gold). Fortuna already has its main Federal permits in hand.
Minera Alamos is built around its operating team that together brought 3 mines into successful production in Mexico over the last 13 years. The Company’s strategy is to develop very low capex assets while expanding the projects’ resources and continuing to pursue complementary strategic acquisitions.
* 27 September 2023 (CAD)
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