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Minera Alamos (MAI) investor relations material
Minera Alamos Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record quarterly revenue of C$43.6 million and record earnings from mine operations of C$20.1 million in Q4 2025.
Completed the acquisition of the Pan Operating Complex, including the Pan mine, Gold Rock, and Illipah projects in Nevada.
Integrated the Pan mine into operations ahead of schedule and strengthened the management team with key appointments.
Announced a C$56 million secondary market share purchase by strategic investors, including management participation.
Financial highlights
Q4 2025 revenue was C$43.6 million, up from C$4.96 million in Q4 2024; full-year revenue reached C$51.2 million.
Earnings from mine operations in Q4 2025 were C$20.1 million, compared to C$2.9 million in Q4 2024.
Adjusted net income for Q4 2025 was C$11.6 million (C$0.11 per share), excluding one-time items.
Cash flow from operating activities in Q4 2025 was C$41.3 million; year-end cash and equivalents stood at C$60.3 million.
Working capital at year-end was C$112.0 million.
Outlook and guidance
2026 guidance for Pan mine: gold production of 32,000–38,000 ounces, total cash costs of US$1,750–1,900/oz, and AISC of US$1,850–2,000/oz.
Plans to release Copperstone pre-feasibility study and rebrand in May 2026.
Targeting TSX graduation in Q2 2026 and starting drilling at Copperstone in Q2 2026.
Closing a US$75 million revolving credit facility and refinancing debt in May 2026.
- Rapid gold production growth and low-capex project pipeline drive peer-leading expansion.MAI
Corporate presentation14 Apr 2026 - Targeting 150koz+ annual gold production through low-capex growth and asset optimization.MAI
Precious Metals Summit Zurich conference 202524 Mar 2026 - Advancing low-capex gold projects with secured funding and a copper spinout on the horizon.MAI
Corporate presentation24 Mar 2026 - Low-capex gold producer advancing multi-mine growth and copper spinout, expanding in North America.MAI
Corporate presentation24 Mar 2026 - Nevada asset acquisition accelerates gold production and growth to mid-tier status.MAI
M&A presentation24 Mar 2026 - Targeting 150+ koz annual gold production through low-capex growth and strategic asset pipeline.MAI
Corporate presentation24 Mar 2026 - Santana mine output is rising, with cash generation expected to return in Q4 2024.MAI
Q2 202424 Mar 2026 - Gold production ramped up in Q3 2024, with expansions and financing set to boost future growth.MAI
Q3 202424 Mar 2026 - Q4 profit achieved as new projects advance; strong outlook for Copperstone and Cerro de Oro.MAI
Q4 202424 Mar 2026
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