Minera Alamos (MAI) - Classy Gold Team Repeating Previous Success
Summary
- TSX-V: MAI.
- Shares Outstanding: 438.5M.
- Share price C$0.68 (09.12.2020).
- Market Cap: C$297.99M.
Minera Alamos is a profitable Mexican gold developer using low-cost heap leach on low-grade ore to generate a profit. They've done it before at Castle Gold. There is a smart management team of Doug Ramshaw and Darren Koningen who are focused on getting to the first gold pour in 2021.
We catch up with Doug Ramshaw, President and Director of Minera Alamos and talk through their strategy to get Santana, and new asset, Cerro De Oro into production. Their 3rd asset La Fortuna has a slightly different profile and will be brought into production later. We like the low-cost approach of buying a second hand mill from the US, using heap leach, low G&A and realistic M&A. They have a Resource which they can talk to the market about.
Company Overview
Minera is a mine development team focused on Mexico. They have their first construction due for completion in Q1 of 2021 and first Gold production in Q2 of 2021 and then they have a series of pipeline projects. Their goal is to become a new, bigger gold producer but first are completing the foundations to build the first mine and a solid foundation for growth. They are excited to be on the cusp of their first Gold production in 2021.
Read the full article here.
Analyst's Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
View our disclaimer here: https//:www.cruxinvestor.com/disclaimer
Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.