Past year: ▲ 4%(38.96 – 73.93 CAD)
Each one in plain English, with the numbers worked through for a shareholder.
21 Apr 2015dividend declaration▼ BadMajor
Alamos cut its semi-annual dividend to US$0.03 per share from US$0.10, payable May 29, 2015 to holders of record on May 15, 2015. The company attributes the cut to the sharp decline in the gold price and its shift to a growth phase, with spending expected to ramp up on its development projects. It also introduced a dividend reinvestment plan letting shareholders take shares at up to a 5% discount instead of cash.
14 Apr 2015material agreement● NeutralMajor
Alamos agreed to merge with AuRico Gold in a merger of equals valued at about US$1.5 billion: Alamos holders get 1 share of the combined company (also called Alamos Gold) per share held plus US$0.0001 cash, AuRico holders get 0.5046 shares, and each side ends up with about 50%. AuRico's Kemess project, royalties and US$20 million cash go into a new spin-off company, AuRico Metals, with 50% of its shares going to each group of former shareholders (the combined company keeps 4.9%). The deal brings AuRico's Young-Davidson mine in Ontario alongside Mulatos, needs 66 2/3% votes from both sets of shareholders and regulatory approvals, is expected to close in Q2 2015, and carries break fees of US$28.4 million payable to Alamos and US$37.5 million to AuRico in certain cases. Alamos also agreed to buy about 27.9 million AuRico shares (about 9.9%) at US$2.99 for about US$83.3 million, which is not contingent on the merger completing.
30 Sept 2014dividend declaration● Neutral
Alamos declared its 10th consecutive semi-annual dividend of US$0.10 per share, payable October 31, 2014 to holders of record on October 15, 2014, unchanged from the prior payment. Cash was about $380 million with no debt, down from about $410 million in January 2014, and the company says it has returned $102 million through dividends and buybacks over five years.
12 Mar 2014resource reserve update● Neutral
Alamos filed a new independent mineral resource estimate for the Esperanza gold project in Morelos, Mexico, prepared by Kirkham Geosystems and dated March 1, 2014, following its acquisition of Esperanza Resources. The visible text covers only the table of contents and report structure (including a 0.2 g/t gold cut-off table); the actual resource figures are cut off, so the size of the resource cannot be stated here.
17 Jan 2014production update▼ BadMajor
Alamos hit its 2013 targets, producing 190,000 ounces of gold at Mulatos and selling a record 198,200 ounces at a total cash cost of about $500 per ounce. For 2014 it guides to lower output of 150,000-170,000 ounces at higher costs (all-in sustaining $960-$1,000 per ounce), citing lower ore grades as the high-grade Escondida zone runs out, the move to underground mining, and a switch to contract mining. The 2014 Mexico capital budget is $54.8 million, including $11.3 million for Esperanza development work. Cash was about $410 million with no debt.
30 Sept 2013dividend declaration▲ Good
Alamos declared a semi-annual dividend of US$0.10 per share, payable October 31, 2013 to holders of record on October 15, 2013. It is the 8th consecutive semi-annual dividend, with $71.1 million paid over four years. Cash was about $430 million with no debt, down from about $490 million in the July and August releases.
26 Aug 2013business combination● NeutralMajor
Ahead of the August 27, 2013 Esperanza shareholder vote on the Alamos deal, proxy voting was extended until the meeting starts. The Alamos warrants to be issued will now expire five years after the arrangement takes effect, instead of May 24, 2017. Sprott funds agreed to vote about 12% of Esperanza shares in favour, bringing locked-up support to about 18%. Alamos's CEO said the company is still assessing risks at the Esperanza project, which is new cautionary language compared with the July announcement.
23 July 2013business combination▲ Good
Alamos agreed to buy Orsa Ventures for C$0.10 cash per share, about C$3.5 million for the equity. Orsa holds a right to earn 100% of the Quartz Mountain property in Oregon (inferred resource of 2.85 million ounces of gold) plus other assets in Oregon and Nevada. It is a small deal next to the Esperanza purchase announced earlier in the month and still needs a court-approved arrangement, a 66 2/3% Orsa shareholder vote and regulatory approvals.
12 July 2013business combination▲ GoodMajor
Alamos agreed to buy Esperanza Resources, owner of the Esperanza gold project in Morelos, Mexico, for C$0.85 cash per share, about C$69.4 million for the equity. Esperanza shareholders also get about five million Alamos warrants, and Esperanza warrant holders about two million, with the deal subject to a court-approved arrangement and a 66 2/3% Esperanza shareholder vote. Alamos says it would fund development from existing cash (about $490 million, no debt) and the filing states the deal would involve virtually no dilution to Alamos shareholders. Esperanza also terminated its earlier agreements with Pan American Silver, and a C$2.7 million break fee to Alamos applies in certain circumstances.
5 Apr 2013regulatory community update● Neutral
Alamos Gold's transfer agent notified Canadian regulators that the annual general meeting will be held June 6, 2013 in Toronto, with a May 3, 2013 record date for notice and voting. This is routine meeting paperwork with no business or financial news.
