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Alamos Gold (AGI) investor relations material
Alamos Gold Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record quarterly revenue, cash flow from operations, and free cash flow of $130 million in Q3 2025, driven by higher gold production, lower costs, and record gold prices.
Gold production reached 141,700 oz, up 3% sequentially, but slightly below guidance due to unplanned Magino Mill downtime and a seismic event at Island Gold, prompting a 6% reduction in full-year production guidance to 560,000–580,000 oz.
Sale of Turkish development projects for $470 million, with $160 million received and the remainder due over two years, and sale of Quartz Mountain project for up to $21 million, boosting cash and liquidity above $600 million.
Recognized as a TSX 30 winner for the second consecutive year, with 310% share price growth over three years.
Expect a strong Q4 rebound with 18% higher production and 5% lower costs, setting up for record output and free cash flow at current gold prices.
Financial highlights
Q3 2025 revenue rose 28% year-over-year to $462 million, with 136,500 oz sold at an average realized price of $3,359/oz.
Adjusted net earnings were $157 million ($0.37/share), excluding a $193 million impairment reversal and $72 million in other adjustments; net earnings were $276 million ($0.66/share).
Operating cash flow before working capital changes was $275 million ($0.65/share), up 60% year-over-year.
All-in sustaining costs (AISC) decreased 7% quarter-over-quarter to $1,226–$1,375/oz; total cash costs down 9% sequentially.
Cash and cash equivalents increased 34% sequentially and 42% year-over-year to $463 million, with total liquidity over $1.1 billion post-quarter.
Outlook and guidance
2025 production guidance revised to 560,000–580,000 oz, with AISC guidance at $1,400–$1,450/oz.
Fourth quarter production expected to increase 18% sequentially to 157,000–177,000 oz, with a further 5% cost reduction.
Capital guidance for 2025 updated to $539–$599 million, a 10% decrease, mainly due to lower Lynn Lake spending and project delays.
Long-term production target of 900,000 oz/year by decade’s end, with potential to reach 1 million oz/year and 8% AISC reduction by 2027.
Lynn Lake project completion now expected in H1 2029 due to wildfire delays and inflationary pressures.
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