Minera Alamos (MAI) Q3 2025 earnings summary

Executive summary

• Completed acquisition of Nevada gold assets, including Pan Gold Mine, Gold Rock Project, and Illipah Project, marking a transformative step for the company.

• Achieved first gold pour from the Pan Operating Complex in October 2025, producing 3,093 ounces that month.

• Strengthened management team with key appointments and announced plans to graduate to the TSX and complete a 10:1 share consolidation.

Financial highlights

• Reported net loss of ($7,057,841) or ($0.012) per share for Q3 2025, primarily due to acquisition-related costs.

• Loss from operations was ($299,455) for the third quarter of 2025.

Outlook and guidance

• Pan Mine operating guidance for 2025 targets 30,000–40,000 gold ounces at an all-in sustaining cost (AISC) of US$1,600–$1,700 per ounce.

• Copperstone project restart decision expected after permit approvals around year-end 2025.

• TSX graduation anticipated in Q1 2026, with share consolidation to enhance capital markets presence.