- Alamos Gold is a mid-tier mining company with a $1 billion valuation and nearly $400 million in net cash.
- The company's main asset is the high-margin Mulatos gold mine in Mexico, which should produce 150,000+ ounces of gold at sub-$1,000 costs for full-year 2014.
- I love Alamos' development projects, mainly the Esperanza project in Mexico and the Kirazli and Agi Dagi projects in Turkey. These projects are fully-funded by Alamos.
- With an enterprise value of $600 million, I don't think the market is placing enough value on Alamos' assets and I think the stock is a buy here.