Minera Alamos – Surface Rights Executed At Cerro De Oro, Santana Ramping Up To Commercial Production
Doug Ramshaw, President and CEO of Minera Alamos (TSX.V:MAI – OTCQX:MAIFF), joins us for an update focused on the continued ramp up towards commercial production at the Santana Gold Mine in Sonora, Mexico and importantly the surface rights agreements being executed at their key development Cerro De Oro gold project in Zacatecas, Mexico. This milestone of having the surface rights will allow the Company to finish remaining activities necessary for the Permit Application submission for the project. This will incorporate all the engineering, geological and other geotechnical work completed to date that collectively represent the plan to develop the Cerro de Oro gold project into the Company’s second operating gold mine.
We discuss the growth-oriented production profile where Santana will be able to initially generate 30k ounces per year in gold production but ramp up to over 40k ounces; Cerro De Oro is projected to produce 60k-65k ounces of gold per year, and La Fortuna is projected to produce about 50k ounce of gold per year. In addition to all the production growth on tap over the next few years, the company also has is continuing to explore and expand on all projects, and on June 23rd updated the markets on its regional exploration activities in the Melchor Ocampo area of Zacatecas, around the Cerro De Oro project.
We wrapped up with Doug outlining the key takeaways from the recent financing and key news on tap for the balance of the year; with Santa reaching commercial production and the economic study at Cerro De Oro being the key factors for investors to look for.
Please email us with any follow up questions for Doug regarding Minera Alamos. Our email addresses are Fleck@kereport.com and Shad@kereport.com.
Click here to visit the Minera Alamos website and read over the recent news.
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Doug Ramshaw delivered his message professionally and I have alot of confidence in what he said.
You guys asked all the right questions and got a lot of good information from him.
Thanks Terry. Yes, Doug is absolutely one of the good guys in the resource industry, and the whole team at Minera Alamos is solid and executing on their business strategy. I see MAI as another of the “growth-oriented gold producers with strong exploration upside” that has been a theme we’ve been discussing the last year or so. Santa is ramping up as mine #1 right now, then Cerro De Oro will be next as mine #2, and then Fortuna a year or two after that will be mine #3. All are low capex builds, have room for production expansion, and plenty of room to grow resources with the drill bit.
I’m biased as an existing shareholder, but the reason I’ve been in the story for a few years is because I like their business plan, projects, and that they’ve financed 4 times without warrants. Their management team actually cares about dilution, and only do it and raise capital if it is accretive to grow the business further and add shareholder value. Also, Doug personally has participated regularly and puts his money where his mouth is, so he is aligned with shareholders and it shows in how they approach the business. Just my 2 cents.
When he says the mines are modeled for $1450 gold does that mean the AISC is projected to be around $1450 per ounce?
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