Alamos Gold Inc. (NYSE:AGI) Q2 2024 Earnings Conference Call August 1, 2024 10:00 AM ET

Company Participants

Scott Parsons - SVP, IR
John McCluskey - President & CEO
Greg Fisher - CFO
Luc Guimond - COO
Scott Parsons - VP, Exploration

Conference Call Participants

Ovais Habib - Scotiabank
Kerry Smith - Haywood Securities
Cosmos Chiu - CIBC
Mike Parkin - National Bank

Operator

Good morning to all participants. I will now turn the call over to Mrs. Scott Parsons, Alamos' Senior Vice President in Investor Relations. Please go ahead, Mrs. Parsons.

Scott Parsons

Thank you, Paul, and thanks to everybody for attending Alamos' second quarter 2024 conference call. In addition to myself, we have on the line today John McCluskey, President and Chief Executive Officer, Greg Fisher, Chief Financial Officer, Greg Fisher, Chief Operating Officer, and Scott R.G. Parsons, Vice President of Exploration.

We will be referring to a presentation during the conference call that is available through the webcast and on our website. I would also like to remind everyone that our presentation will be followed by a Q&A session.

As we will be making forward-looking statements during the call, please refer to the cautionary notes included in the presentation, news release, and MD&A, as well as the risk factors set out in our annual information form. Technical information in this presentation has been reviewed and approved by Chris Boswick, our Senior VP of Technical Services and a qualified person. Also, please bear in mind that all of the dollar amounts mentioned in this conference call are in U.S. dollars, unless otherwise noted.

Now, John will provide you with an overview.

John McCluskey

Thank you, Scott. We recently announced the closing of the Argonaut acquisition, and I'll start off by welcoming all of the Magino employees to the Alamos family. The uniting of the Magino and Island Gold mines to form the Island Gold District is a pivotal moment for the company.

Together, we are building an even brighter future by creating one of the largest and lowest-cost operations in Canada, led by an even stronger workforce. We delivered an outstanding second quarter marked by numerous records. This included record production of 139,100 ounces, exceeding guidance for the quarter. Our costs also declined from the first quarter, and combined with rising gold prices, we generated record revenue, cash flow from operations, and free cash flow of $107 million. With a solid first half of the year, we are well positioned to achieve full-year production and cost guidance.