- Having operations underground helped save on energy costs when diesel prices spiked, said Alamos Gold CEO John McCluskey.
Alamos Gold is a Canadian-based gold producer. The company operates three mines – two in Canada and one in Mexico. Alamos Gold was formed in 2003 through the merger of Alamos Minerals and National Gold. The company said it will produce about 500,000 ounces of gold in 2023 at about $1,150 all-in sustaining cost. The long-term potential is for 800,000 ounces annually at a lower AISC.
"I don't see our shareholders putting any pressure on our shoulders to do more M&A," said McCluskey."We've got such a strong internal growth profile going forward. By 2026 we're going to have our Island Gold expansion completed and at that point, our free cash flow is going to soar."