ALAMOS GOLD INC.
    TSX: AGI




                   John A McCluskey
                        A.
                         ...
Forward Looking Statements
No stock exchange, securities commission or other regulatory authority has approved or disappro...
Corporate Strategy
Focused on Sensible and Sustainable Growth
 Double Gold Production to 300,000+ Ounces per Year by 2012
...
Project Locations




  Alamos is currently evaluating Agi Dagi and Kirazli under an option to purchase agreement from the...
Alamos Gold: Mulatos Mine & Salamandra Concessions
                                                     7
                ...
9
                                                                                                                        ...
Mulatos Mine History

   2005: First gold pour
   H1-2006: Commercial production declared (April)
   H1 2006:
   H2-2006: ...
2008
Record Performance
   Produced 151,000 ounces of gold
   Cash operating costs of $345 per ounce
   Total cash costs o...
ALAMOS GOLD INC.




                   Operations
                            15
Expanding Production from Existing Operations
What We Have Done to Improve Operating Performance

Initiatives             ...
Expanding Production from Existing Operations
What We Have Done to Improve Operating Performance




           Stacking S...
Improving Financial Performance
Increasing Cash Margins Support Expansion and Exploration
           $/oz.
  $1,200
      ...
Continue to be Low Total Cash Cost Producer1
Q2-2009 Total Cash Costs Amongst the Lowest in the Industry
                 ...
Organic Growth from Existing Operations
Mill to Process High-Grade Ore at Mulatos

                           Pro Forma Mi...
ALAMOS GOLD INC
             NC.




                   Resource Growth Through
                           Exploration  26
Reserves and Resources Outlook
Adding Ounces Through the Drill Bit
    Significant district-wide exploration potential wit...
Alamos’ 2009 & 2010 Exploration Programs
Mulatos District / Salamandra Concessions




                                   ...
Cerro Pelon
  3 km from the leach pad
  Core drilling on 25-m centres delineated a continuous
  oxidized zone of gold bear...
Filling in the “Gap” Between the Mulatos and
El Victor Pits
  Objective: Convert inferred resources to the measured
  and ...
Northeast High-Grade and SW Extension of
Escondida Discoveries
 Northeast discovery expected to significantly
 increase th...
PdA Extension Exploration Model
NE Longitudinal Section – Gold Grade Block Model




                                     ...
San Carlos
Advancing Another Near Pit Project




                                                    39




Main Growth D...
Near-Term Catalysts
 “Closing the Circuit” (100% passing 3/8" screen)         Q4-2009
   4 to 7% increase in recoveries ex...
Other Exploration & Development Projects
Advancing Satellite Projects Up the Development Pipeline

  El Carricito:
     Ca...
Proven and Probable Reserves at December 31, 20081,2

                                        Proven                      ...
Resources at December 31, 2008
Exclusive of Reserves

              Measured                         Indicated            ...
Management and Board of Directors
 Executives and Management                        Directors

        A.
   John A McClus...
ALAMOS GOLD INC.




          For more information, please contact:

              Jeremy Link,    M.Eng., P.Eng.
       ...
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Almos Gold Presentation

  1. 1. ALAMOS GOLD INC. TSX: AGI John A McCluskey A. President & CEO Jeremy Link y Manager, Investor Relations November 23, 2009 Corporate Presentation 1
  2. 2. Forward Looking Statements No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This presentation includes certain “forward-looking statements”. All statements other than statements of historical fact, included in this presentation, including without limitation statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of Al d bj ti f Alamos, are fforward-looking statements th t i d l ki t t t that involve various risks and uncertainties. Th mineral resources estimates l i ik d t i ti The i l ti t contained here in are only estimates and no assurance can be given that any particular level of recovery of minerals will be realized or that an identified resource will ever qualify as a commercially mineable or viable deposit which can be legally and economically exploited. In addition, the grade of mineralization ultimately mined may differ from the one indicated by drilling results and the difference may be material. The estimated resources described herein should not be interpreted as assurances of mine life or of the profitability of future operations. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Alamos’ expectations include, among others, risks related to international operations, the actual results of current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined as well as future prices of gold and silver, as well as those factors discussed in the section entitled “Risk Factors” in Alamos’ Annual Information Form available on www.SEDAR.com. Although Alamos has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources: Certain tables may use the terms “Measured”, “Indicated” and “Inferred” Resources. United States investors are advised that while such terms are recognized and required by Canadian regulations however the United States Securities and Exchange Commission does not regulations, however, recognize them. “Inferred Mineral Resources” have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of Measured or Indicated Mineral Resources will ever be converted into Mineral Reserves. United States investors are also cautioned not to assume that all or any part of a Mineral Resource is economically or legally mineable. All figures are US$ unless otherwise indicated 2
  3. 3. Corporate Strategy Focused on Sensible and Sustainable Growth Double Gold Production to 300,000+ Ounces per Year by 2012 Continuing to improve heap-leach performance at Mulatos Processing high-grade ore at Mulatos by 2012 high grade Advance Aği Daği & Kirazli towards production for 20131 Grow Gold Reserves Rapidly advance new and satellite projects up the development pipeline Growth Through Acquisitions and Exploration Focus on gold districts, not just gold projects Geophysics, g p y , geologic detective work, and drill, drill, drill! g , , , Continue to Be a Low-Cost Producer Expect to remain in the lowest quartile of total cash cost per ounce Maintain a Solid Financial Profile Strong cash balance, no debt, and remain unhedged to the price of gold 1 – Management estimate and conditional on closing of project acquisition 3 Financial Position & Capital Structure Strongest Balance Sheet in Company’s History Shares Outstanding1 108,833,406 Options1 6,437,500 (5.6%) Fully Diluted 115,270,906 Recent Share Price2 C$11.70 Market Capitalization C$1.273 Billion Cash E i l C h & Equivalents1 > US$160 Milli ( ~$1.47 / share) Million Debt None Gold Hedging None 1 – October 31, 2009 2 – November 16, 2009 4 2
  4. 4. Project Locations Alamos is currently evaluating Agi Dagi and Kirazli under an option to purchase agreement from the vendors and does not own these projects 5 Mulatos Mine Located in northwestern Mexico in the State of Sonora, near the border of Chihuahua State Open pit, heap leach operation ~10-year reserve life at the end of 2008 2009 production guidance of160,000 to 170,000 ounces Over 150,000 ounces produced by the end of October Total cash cost guidance of $335 / ounce1 YTD total cash costs of $330 / ounce Includes 5% royalty 1 - 2009 guidance based on $900 gold price, 5% royalty, and 2009 budget Mexican peso : US dollar exchange rate of 12.6:1 6 3
  5. 5. Alamos Gold: Mulatos Mine & Salamandra Concessions 7 7 8 8 4
  6. 6. 9 9 2008 Mulatos Mine Reserve and Resource Statement Continuing to Replace Reserves and Grow Resources 5 2P Reserves Measured & Indicated 4 Inferred 2.05 1.69 Ounces (millions) 3 2 1.66 3.02 1.93 1 1.04 0.45 0 2004 2007 2008 2008 Mulatos Mine Reserves and Resources as at December 31, 2008. See presentation appendices for further details. 10 5
  7. 7. Mulatos Mine History 2005: First gold pour H1-2006: Commercial production declared (April) H1 2006: H2-2006: Mine-teething and ramp-up issues H2-2007: Turn around in-effect 2008: The “Comeback Kid” Appreciated 58.23% during 2008 #2 performer in the S&P / TSX Composite Index 2009 and beyond: Organic growth, growth by acquisition 11 Relative Performance 100% 100% 75% 75% 50% 50% 25% 25% 0% 0% -25% -25% S&P / TSX Global Gold Miners Index Alamos Gold -50% -50% 2006 2007 2008 2009 2010 Source: Bloomberg, daily closing prices from January 1, 2005 to November 20, 2009 12 6
  8. 8. 2008 Record Performance Produced 151,000 ounces of gold Cash operating costs of $345 per ounce Total cash costs of $389 per ounce Sold 151,560 ounces at a realized average price of $877 per ounce Earnings per share of $0.31 Appreciated 58.23% during 2008 #2 performer in the S&P / TSX Composite Index index was down 35.03% in 2008 #2 performer in the S&P/TSX Global Gold Index index gained 0.76% in 2008 13 2009 Year-to-Date Record Performance Continues Produced 130,500 ounces of gold in 2009 by end of Q3 Total cash costs of $330 / ounce (includes 5% royalty) Cash operating costs of $ $284 / ounce YTD-Q3 earnings per share of $0.34 $0.09 in Q1, $0.12 in Q2, $0.13 in Q3 Several exciting new discoveries at Mulatos 2 high-grade extensions to Escondida and a large extension to PdA Produced 19,500 ounces in October >150,000 ounces produced YTD On-track to meet guidance of 170,000 ounces at a total cash cost of <$335 / ounce 14 7
  9. 9. ALAMOS GOLD INC. Operations 15
  10. 10. Expanding Production from Existing Operations What We Have Done to Improve Operating Performance Initiatives Complete Upgrade On-Site Facilities Camp Improvements and Expansion 100% New Warehouse & Offices 100% Diesel Station, Laboratory, Truck Shop 100% Power House Expansion >53% Optimize the Crushing Circuit Fourth Crusher 100% Close Crushing Circuit (100% passing 3/8” screen) Installation Complete Scoping Study for 33% Expansion Under Review Improve Recovery Ratio Inter-lift Liners 100% Stacker – Conveyor System 100% Drum Agglomeration 100% 16 Expanding Production from Existing Operations What We Have Done to Improve Operating Performance All Infrastructure Completed Agglomeration Commissioned Lime Application Completed 17 1
  11. 11. Expanding Production from Existing Operations What We Have Done to Improve Operating Performance Stacking System Completed and Inter-lift Liners Installed 18 Recovery Ratio Improving Ratio of Ounces Produced to Ounces Stacked 100% 100% 90% Drum Agglomeration Commenced 90% 80% Stacking System Installed 80% 70% Starting Using Interlift Liners 70% 60% 4th Crusher 60% 50% 50% 40% 40% 30% 30% 20% 20% 10% 10% 0% 0% 2006 2007 2008 2009 Monthly Recovery LOM Recovery Quarterly Moving Average 19 2
  12. 12. Improving Financial Performance Increasing Cash Margins Support Expansion and Exploration $/oz. $1,200 $1,000 $1,000 $877 $800 $735 $579 $665 $488 $600 $313 $458 $76 $261 $400 $38 $44 $24 $50 $200 $382 $384 $345 $294 $285 $0 2005A 2006A 2007A 2008A 2009E Cash Operating Cost Royalty (5%) Margin Realized Price 2009 estimate based on $1,000 gold price and 2009 budget Mexican peso : US dollar exchange rate of 12.6:1 20 Lowest Quartile of Production Total Cash Cost1 Gold Co-Product Total Cash Cost for 2008 $800 $700 $600 $500 $400 $300 $ 00 $200 $100 $0 E R Z Y R X I G G G M EM N ZL G EM M D C I FI SG L X F SS G LD G C G G B R G LG SM U VE B SG A C EL G G IA N PO G C B A C G R A PL A A A A O G A H K R A A K N O G G N 1 Source: BMO Capital Markets Metals & Mining Research 21 3
  13. 13. Continue to be Low Total Cash Cost Producer1 Q2-2009 Total Cash Costs Amongst the Lowest in the Industry $800 $700 $667 /oz) Q2-20 Total Cash Costs (US$/ $600 $483 $500 $452 $466 $423 $433 $434 $390 $394 $400 $322 $324 $326 $300 009 $200 $100 $0 ELD AGI AEM G YRI NEM Wgt K ABX JAG IMG CG Avg 1 Source: RBC CM Research (Aug 24, 2009) 22 Increasing Production 350,000 300,000 250,000 Production (oz.) 200,000 160,000 - 170,000 151,000 150,000 101,170 106,200 100,000 100 000 50,000 0 2006A 2007A 2008A 2009E 2010E 2011E 2012E 23 1
  14. 14. Organic Growth from Existing Operations Mill to Process High-Grade Ore at Mulatos Pro Forma Mill Production1 Effective Grade Annualized Production2 3 10.54 g/t Au 54,900 oz. Au 15 g/t Au 78,100 oz. Au 20 g/t Au 104,200 oz. Au 4 25.48 g/t Au 132,700 oz. Au 1 oz./t Au 162,000 oz. Au 1 Based on 500 tpd milling scenario with mill tailings being stacked on the heap leach pad 2 Some numbers may not compute due to rounding and truncation errors 3 Based on NI 43-101 compliant reserves of 289,000 tonnes of milling ore at an average drill-indicated grade of 10.54 g/t Au as of December 31, 2008 4 Calculated mean grade 2007 bulk sample that was approximately 50× that of the drilling samples 24 Gravity Mill to Process High Grade Ores Base Case Economics 500 tpd Milling Operation (based upon 10.54 g/t Au) Gravity Recovery: 90% Initial Capital Cost1: $17.5 million (includes 20% contingency) Mill Operating Costs2: $12.08 per tonne of ore $39.62/oz. Au at 10.54 g/t Au IRR of 101% at $700 gold, IRR of 150% at $950 gold3 2009 exploration results expected to increase mill life 1 Excludes pre-stripping, which is associated with the development of the entire Mulatos Pit Area, which contains the Escondida deposit. A 3rd party contractor has been selected, and pre-stripping commenced in early Q4-2009. 2 Excludes mining costs. 3 Management estimates. 25 5
  15. 15. ALAMOS GOLD INC NC. Resource Growth Through Exploration 26
  16. 16. Reserves and Resources Outlook Adding Ounces Through the Drill Bit Significant district-wide exploration potential within 30,325 hectare land package Focus primarily on upgrading near-pit resources to F i il di i reserves and making near-pit discoveries Gap, Cerro Pelon, Escondida, PdA, PdA Extension, La Yaqui Exploration drilling ongoing with three rigs: San Carlos (2 RC) Puerto del Aire Extension(1 RC) 2009 Exploration Budget of$10M: > 65,000 m of drilling in over 330 drill holes completed this year Plan to drill up to 75,000 m in 2009, nearly double 2008’s drilling Advance select regional grassroots targets to the drill-ready stage 27 Aggressive Exploration Program to Drive Growth Pipeline of Projects Detection Discovery Definition Design Development El Carricito GRASS ROOTS Las Carboneras EXPLORATION San Nicolas MINERALIZED El Jaspe El Halcon INTERCEPTS Los Bajios STEP-OUT DRILLING OF MULTIPLE El Realito INTERCEPTS RESOURCE San Carlos Cerro Pelon & RESERVE Gap DEFINITION La Yaqui MINE HG Escondida Puerto del Aire DEVELOPMENT El Victor Pit Mulatos Pit 28 14
  17. 17. Alamos’ 2009 & 2010 Exploration Programs Mulatos District / Salamandra Concessions 29 2009 Exploration Activity – Greater Mulatos Pit Area (View to South) Cerro Pelon Estrella st e a Puerto del Aire El Salto/ (PdA) Mina Vieja PdA Extension Escondida Gap G El Victor LEGEND Mineralized trends +1 opt intercepts San Carlos 30 September 30, 2009 15
  18. 18. Cerro Pelon 3 km from the leach pad Core drilling on 25-m centres delineated a continuous oxidized zone of gold bearing vuggy silica: gold-bearing cumulative strike of 250 m, 30 to 80 m wide, and 70 to 150 m thick Typically grades between 2 and 3 g/t Au Resource estimate in Q4-2009: Majority of resources are expected to be classified within the measured and indicated categories Feasibility studies and development likely to commence in 2010 31 32 16
  19. 19. Filling in the “Gap” Between the Mulatos and El Victor Pits Objective: Convert inferred resources to the measured and indicated categories: Core drilling on 50-m sections completed in Q1-2009 RC drilling on 25-m centres completed in Q3-2009 Goal: Confirm continuity between the Mulatos and El Victor pits: A single 2.1-km northeast trending mineralized horizon Building a bigger and more efficient pit Upside: Potential for a new high-grade zones: Promising assay results 33 Escondida – Gap – El Victor Silica Alteration 34 17
  20. 20. Northeast High-Grade and SW Extension of Escondida Discoveries Northeast discovery expected to significantly increase the life of the Escondida milling operation SW E i d dd h i lif f h Extension expected to add to the mine-life of the high-grade Escondida zone Highlights the potential for more high-grade zones Drill Indicated Dimensions Strike Width Thickness NE High-Grade Extension 70 m 50 m Up to 15 m SW High-Grade Extension 30 m 30 m Up to 8 m 35 PdA Extension Stepped out 750 m from the Mulatos Pit to the NE in early 2009 Drilling revealed a new, large system of intense silica alteration Preliminary minimum drill-indicated dimensions: > 750 m of strike > 200 m of width 25 m to 125 m thick Initial grades in the 1 to 3 g/t Au range Localized high-grade zones 09PA144 intersected 50.30 m @ 10.06 g/t Au, including 16.77 m @ 27.16 g/t Exploration drilling is ongoing 36 18
  21. 21. PdA Extension Exploration Model NE Longitudinal Section – Gold Grade Block Model 37 San Carlos Advancing Another Near Pit Project Phase I San Carlos drilling was completed in 2006 consisting of 33 RC holes (6,303 m): 35.0 35 0 m @ 2.99 g/t Au 2 99 48.8 m @ 4.69 g/t Au 4.6 m @ 36.11 g/t Au Similar geologic characteristics and setting to high-grade portion of Escondida: High potential to be another high-grade zone Phase II infill and step-out drilling ongoing with 2 RC rigs: Exploration targeted at expanding resource and improving resource confidence Classified as 310,000 inferred ounces within the Company’s December 31, 2008 resource statement 38 19
  22. 22. San Carlos Advancing Another Near Pit Project 39 Main Growth Drivers for 2009 and 2010 Continue to Increase Production and Reduce Costs Commence Construction of High Grade Mill Increase Near Pit Reserves Advance Key Regional Exploration Targets Accretive Acquisitions 40 20
  23. 23. Near-Term Catalysts “Closing the Circuit” (100% passing 3/8" screen) Q4-2009 4 to 7% increase in recoveries expected A Assays results f lt from NE PdA E t i Extension O i Ongoing 1 RC rig drilling now Cerro Pelon Resource Estimate Q4-2009 4 km from SW of Mulatos Pit, exposed at surface Assay results from San Carlos Ongoing Potential for a new high-grade discoveries 2 RC rigs drilling now Closing of the acquisition of the Agi Dagi and Kirazli Q4-2009 gold projects in Turkey Phase I Drilling of El Carricito Regional Target Q1-2010 Favourable alteration, anomalous gold values Massive footprint that has never been drilled 41 Appendices Other Exploration and Development Projects Resources at December 31, 2008 Proven and Probable Reserves at December 31, 2008 Management and Board of Directors 42 21
  24. 24. Other Exploration & Development Projects Advancing Satellite Projects Up the Development Pipeline El Carricito: Carricito: High-priority grassroots regional target with massive alteration footprint Soil geochemical sampling and mapping ongoing to identify drill targets Drilling expected to commence during Q1-2010 La Yaqui: Being advanced up the development pipeline San Carlos: Drilling now Re-modelling and re-estimation for 2010 reserve and resource statement 43 Other Exploration & Development Projects Advancing Satellite Projects Up the Development Pipeline East Estrella Geophysics p y Developing drill targets Drilling expected to commence in Q1-2010 Las Carboneras Early stage exploration Surface geochem Mapping M i El Halcon, El Jaspe, and El Realito Halcon, Jaspe, Undergoing complete re-evaluation Additional drilling at El Halcon in Q1-2010 44 22
  25. 25. Proven and Probable Reserves at December 31, 20081,2 Proven Probable Proven & Probable Tonnes T Grade G d Contained C i d Tonnes T Grade G d Contained C i d Tonnes T Grade G d Contained C i d Area (000s) (g/t Au) Ounces (000s) (g/t Au) Ounces (000s) (g/t Au) Ounces Mulatos Pit 7,394 1.73 410,019 33,129 1.23 1,309,858 40,523 1.32 1,719,877 El Victor Pit 2,347 1.09 82,432 2,725 0.99 87,082 5,072 1.04 169,514 Existing 2,059 2.36 156,363 - - - 2,059 2.36 156,363 Stockpiles Total 11,800 1.71 648,814 35,854 1.21 1,396,940 47,654 1.35 2,045,754 1. Reserve cut-off is determined as a net of process value of $0.10 per tonne, for each model block. The determination was based on a $700 per ounce gold price, a February 2009 recovery model, and November 2008 actual cost figures from current mining operations. 2. The Company s reserves as at December 31, 2008 are classified in accordance with the Canadian Institute of Mining Metallurgy and Petroleum’s Company’s Petroleum s “CIM Standards on Mineral Resources and Reserves, Definition and Guidelines” as per Canadian Securities Administrator’s National Instrument 43- 101 (“NI 43-101”) requirements. 45
  26. 26. Resources at December 31, 2008 Exclusive of Reserves Measured Indicated Measured + Indicated Inferred Au Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained Tonnes Grade Contained Cutoff Ounces Ounces Ounces Ounces (000) (g/t Au) (000) (g/t Au) (000) (g/t Au) (000) (g/t Au) (g/t) 2.00 731 3.200 75,201 2,533 3.155 256,938 3,264 3.165 332,139 2,310 3.353 265,051 1.50 1,370 2.503 110,270 4,872 2.458 384,969 6,242 2.468 495,239 3,696 2.736 340,590 1.00 1 00 3,466 3 466 1.714 1 714 190,993 190 993 11,623 11 623 1.723 1 723 643,968 643 968 15,089 15 089 1.721 1 721 834,961 834 961 8,665 8 665 1.853 1 853 529,692 529 692 0.70 6,679 1.286 276,148 23,709 1.264 963,287 30,388 1.269 1,239,435 17,453 1.335 761,342 0.50 10,673 1.026 352,172 41,972 0.968 1,306,416 52,645 0.980 1,658,588 32,580 0.986 1,043,857 0.30 16,102 0.813 421,051 76,538 0.706 1,736,131 92,640 0.724 2,157,182 70,148 0.664 1,508,202 46
  27. 27. Management and Board of Directors Executives and Management Directors A. John A McCluskey Mark Wayne President and CEO Chairman Jon Morda Chief Financial Officer David Gower Manley Guarducci Vice P id t d Chief O Vi President and Chi f Operating Officer ti Offi Leonard Harris Herve Thiboutot Vice President of Exploration Eduardo Luna Charles Tarnocai Vice President of Corporate Development James M. McDonald Jamie Porter Vice President of Finance John F. Van De Beuken Marc Jutras Director of Mineral Resources John A. McCluskey President and CEO g Ken Balleweg Exploration Manager - Mexico Sharon L. Fleming Corporate Secretary Jeremy Link Investor Relations Manager 47
  28. 28. ALAMOS GOLD INC. For more information, please contact: Jeremy Link, M.Eng., P.Eng. Manager, Investor Relations 416.368.9932 201 866.788.8801 201 . . jlink@alamosgold.com www.alamosgold.com 48

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