Following its acquisition of Argonaut Gold, Alamos inherited additional forward purchase contracts totaling 329,417 oz. spanning from 2024 to 2027. The average prices for these contracts ranged from $1,821 to $1,860 per ounce. By eliminating the contracts scheduled for 2024 and 2025, Alamos has closed out a significant portion of its short-term hedge commitments.
The gold prepayment agreement was facilitated by Canadian Imperial Bank of Commerce, Bank of Montreal, National Bank of Canada and ING Capital Markets LLC, leveraging the current strong gold price environment. The pricing was based on average forward curve prices of approximately $2,524 per ounce, reflecting advantageous market conditions.
With the majority of the 2024 and 2025 hedges now eliminated, Alamos retains a smaller hedge book consisting of 150,000 oz. scheduled for delivery in 2026 and 2027, expected to account for less than 12% of total production during that…
