Doug Ramshaw, President of Minera Alamos (TSX.V:MAI – OTCQX:MAIFF), joins us outline the key takeaways from news announced on October 28th about the #acquisition of Sabre Gold Mines Corp. (TSX: SGLD) (OTCQB: SGLDF), and the potential of dual-track #development for both the Copperstone Mine in #Arizona and the Cerro De Oro Project in Zacatecas, #Mexico.
Doug points out that this acquisition creates a more diversified North American platform for #gold #production, beyond the Santana gold mine operations (Sonora, Mexico), and that the addition of Copperstone (Arizona, US), in concert with the development of Cerro De Oro can be developed in tandem in a dual-track approach. He clarifies that this development of the underground Copperstone mine in Arizona is definitely not a pivot away from open-pit mining or the focus in Mexico, but rather a wise tuck-in acquisition to further expand their resource base and production profile. The site at Copperstone has significant infrastructure and permits in place, and the Company already has a mill in storage that will be moved to site next year, and will allow their technical group to quickly advance the project into production.
Switching to the capital management side of the business, Doug shares that Minera Alamos is also in discussions with lenders in connection with potentially expanding existing finance facilities to accommodate the development of both Copperstone as well as their Cerro de Oro project in Mexico, which is awaiting permit approvals. He mentions that this merger is a great example of how complementary assets can be combined to de-risk and scale up a development platform simultaneously.
At the Santana Mine, operations are moving right along sourcing ore from the Nicho Main Zone, and it will remain about a 20,000+ ounces per year production center for the company. With Copperstone slated to produce roughly 40,000 ounces per year of gold, and Cerro De Oro slated to produce 60,000 ounces per year of gold; there is a clear pathway to 120,000 ounces of gold per year starting in 2026. After all 3 mines have ramped up to commercial production, then there is also the Fortuna Mine in Mexico that will move into development as mine number 4.
If you have any follow-up questions for Doug regarding Minera Alamos, then please email us at Shad@kereport.com and Fleck@kereport.com.
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In full disclosure, Shad is a shareholder of Minera Alamos at the time of this recording.
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