AGI:CC - Alamos Gold founder says best days still lie ahead after 20th anniversary
(NewsDirect)
Alamos Gold Inc (TSX:AGI, NYSE:AGI)President and CEO John McCluskey visits the Proactive London studio tospeak with Thomas Warner on the occasion of the gold producer'stwentieth anniversary.
McCluskeygives an overview of how the business transformed itself from what hedescribes as a small Canadian penny stock to being a significant northAmerican gold producer, starting with the securing of an option topurchase a major asset when gold was priced around $300 anounce.
Today, with gold atapproximately $1,850 an ounce, the company boasts a production of over2.5 million ounces of gold, generating nearly half a billion dollarsin profit. Key acquisitions, such as the Young-Davidson and the IslandGold mines, have significantly bolstered the company'sportfolio.
McCluskey attributes Alamos Gold's success toefficient capital allocation, with returns averaging close to 14% overtwo decades. Looking ahead, the company aims to increase itsproduction from 500,000 ounces a year to 800,000 ounces by 2028,focusing primarily on Canadian assets. McCluskey also shares hisoptimistic outlook on gold prices, citing potential macroeconomicfactors that he believes may prove supportive.
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