Alamos Gold ( (TSE:AGI) ) just unveiled an announcement.
Alamos Gold Inc. announced the sale of its non-core Quartz Mountain Gold Project in Oregon to Q-Gold Resources Ltd. for up to $21 million and a 9.9% equity stake in Q-Gold. This transaction aligns with Alamos’ strategy to monetize non-core assets and focus on high-return growth projects like the Phase 3+ Expansion at Island Gold and the Lynn Lake project. The deal, expected to close in the second quarter of 2025, will allow Alamos to participate in the future success of Quartz Mountain as a significant shareholder, enhancing its industry positioning and providing potential benefits to stakeholders.
More about Alamos Gold
Alamos Gold Inc. is a Canadian-based intermediate gold producer with diversified production from three operating mines in North America, including the Island Gold District and the Young-Davidson mine in Ontario, Canada, and the Mulatos District in Sonora State, Mexico. The company also has a significant portfolio of development stage projects, such as the Phase 3+ Expansion at Island Gold and the Lynn Lake project in Manitoba, Canada. Alamos employs over 2,400 people and is committed to sustainable development, with shares traded on the TSX and NYSE under the symbol ‘AGI’.
YTD Price Performance: 43.92%
Average Trading Volume: 2,927,176
Technical Sentiment Signal: Strong Sell
Current Market Cap: $11.3B
Learn more about AGI stock on TipRanks’ Stock Analysis page.