Alamos Gold Inc.
Alamos Gold is a Toronto-headquartered, multi-mine intermediate gold producer operating three mining districts: Young-Davidson (underground, Ontario), the Island Gold District (Island Gold underground + Magino open pit, integrated under one processing complex, Ontario), and the Mulatos District (La Yaqui Grande open pit + the Puerto Del Aire underground development project, Sonora, Mexico). Global Proven and Probable Mineral Reserves totalled 15.9 million ounces of gold as of 31 Dec 2025, up 32% from 12.0 million ounces a year earlier, driven by reserve growth at Island Gold and Magino. The company's Feb 2026 Island Gold District Expansion Study outlines a 19-year mine life at a 20,000 tpd expanded mill, averaging 534,000 oz/yr over the first 10 years post-expansion. Founded and led since 2003 by co-founder John A. McCluskey (President and CEO); grew significantly via the Jul 2024 acquisition of Argonaut Gold, which brought the Magino mine (adjacent to Island Gold) into the portfolio. Q2 2026 revenue was $594.1 million on 130,600 oz produced at a consolidated mine-site AISC of $1,728/oz.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Jan 2019 · Source
- Reached — date not disclosed · Source
- Jan 2021 · Source
- Jun 2023 · Source
- Reached — date not disclosed · Source
Milestones are recorded only from a company's own dated disclosure. A milestone with no date shown is one we can confirm was reached but for which no date was disclosed — we don't estimate one. "Not yet reached" means exactly that, not that a date is missing. An "Expected" line likewise only ever reflects the company's own guidance (e.g. a study or permit decision targeted for a stated quarter) — most not-yet-reached milestones have none, and that absence means no such guidance has been disclosed, not that one is overdue.
Not yet determined: grid power.
Not in place: tailings facility.
Not in place: grid power.
Not in place: mill, tailings facility.
Not in place: tailings facility.
Combined view across 7 projects. Figures below are only combined where the underlying basis genuinely matches -- see the notes under each.
- 53%Island Gold District
- 41%La Yaqui Grande
- 46%Puerto Del Aire
- 19 yrsIsland Gold District
- 5 yrsLa Yaqui Grande
- 14 yrsYoung-Davidson
- 8 yrsPuerto Del Aire
Jurisdiction (40%)9/10
Ontario: Fraser PPI 2025 is 93.70 of 100 (rank 5 of 68), which maps to 9 on this site's scale. Alamos's flagship is the Island Gold District at Dubreuilville, Ontario; with Young-Davidson, Ontario supplies about three-quarters of 2026 guided production. The Mulatos District in Sonora, Mexico carries higher risk, which this single flagship-based score does not capture.
Infrastructure (40%)8.6/10
A confirmed mill, confirmed road access, and a confirmed tailings facility at Island Gold District; grid power not yet researched, counted at a neutral 5/10 until established.
Nearby producing mine (20%)Not yet researched
No producing mine within 50 km in our reference list (nearest listed: Eagle River (Wesdome Gold Mines Ltd.), 82 km). That list doesn't cover every mining district yet, so a longer distance isn't scored as remote.
Acquisition Susceptibility
A relative ranking of how closely this company matches the profile of juniors that have actually been acquired — not a probability, and not a reason to buy. Acquisitions are rare: only a few dozen significant deals happen a year across a universe of thousands of juniors, so even a high score here describes a long shot. The strongest signal in the research, a producer that already owns part of the company, is scored from its disclosed strategic shareholders. A producer that is a joint-venture or earn-in partner on the project, rather than a shareholder, isn't captured yet.
How this score is built
- Disclosed pending dealSub-score: Not scored
No pending acquisition or merger disclosed (checked)
Not scored: having no deal in flight isn't held against a company.
Weight 26.25% - Producer's strategic stakeSub-score: Not yet researched
Holder register not researched yet
Not scored: most juniors that do get bought had no prior toehold, so a missing stake says little either way.
Weight 25% - Distance to a producing mineSub-score:3.9/10
Nearest producing mine: Eagle River (Wesdome Gold Mines Ltd.), 82 km
10 next to a producing mine, 8 at 20 km, 5 at 50 km, 0 beyond 200 km.
Weight 22.5% · 46% here - Lifecycle stageSub-score:5.5/10
Stage: Production
Feasibility and permitting score 10, where deals cluster, and production 5.5; earlier stages score less, down to 1 at grassroots.
Weight 15% · 31% here - JurisdictionSub-score:9/10
Canada: jurisdiction score 9/10
Our jurisdiction score, used as is: higher means lower political and permitting risk.
Weight 6.75% · 14% here - CommoditySub-score:10/10
Primary commodity: Gold
Gold 10, copper 8, silver 5, nickel and uranium 4, others 2: most majors' deals are for gold.
Weight 4.5% · 9% here
Weight is each input's share of the full score. “Here” is its share of this company's score: inputs that aren't scored are left out and the rest re-weighted, never counted as zero.
Your Rankings
Management Team
President, Chief Executive Officer and Director of Alamos Gold Inc. since co-founding the company in 2003 (with mining industry veteran Chester Millar). Built Alamos from a single Mexican mine into a diversified, ~US$13B intermediate gold producer with four operating mines across Canada and Mexico. Began his career with Glamis Gold Ltd. in 1983 (no confirmed specific title/dates); founded and led Grayd Resource Corporation as CEO from 1996 to 2003 immediately before Alamos. Director of the World Gold Council. Recipient of the PDAC's 2023 Viola R. MacMillan Award, the 2018 Murray Pezim Award, and Ontario's 2012 Ernst & Young Entrepreneur of the Year award.
Chief Financial Officer of Alamos Gold Inc. since 2023 (Senior VP Finance 2021-2023; VP Finance 2011-2021), having joined the company in 2010 -- his substantive senior career has been built almost entirely inside Alamos. Before Alamos, Senior Manager at KPMG, serving mining clients in the audit practice. Honours Bachelor of Commerce, McMaster University; CPA, CA.
Chief Operating Officer of Alamos Gold Inc. since 2022 (VP Operations immediately prior). Nearly 35 years of mining industry experience in operations management, project management, mine construction and corporate development in Canada and Australia. Before Alamos, held progressively senior positions with Noranda, Hemlo Gold Mines, Battle Mountain Gold and Newmont, then joined Northgate Minerals Inc. in 2006 as Project Manager of the Young-Davidson project (Northgate is itself a corporate predecessor of today's Alamos Gold, via the 2011 Northgate->AuRico Gold and 2015 AuRico->Alamos mergers) -- General Manager of Young-Davidson, then Executive General Manager for Northgate's Australian operations, continuing through the AuRico and Alamos transitions. Graduate of Haileybury School of Mines; BASc (Mining Engineering), Queen's University.
Chairman of the Board of Alamos Gold Inc. since 8 Jan 2025 (director since May 2019), succeeding the late Paul J. Murphy. Non-executive Chairman of Torys LLP since 2010. Before that, Chairman of BMO Financial Group (2012-2020); President and CEO of Torstar Corporation (2002-2009); and an academic career culminating in serving as the 13th President of the University of Toronto (1990-2000, Dean of the Faculty of Law 1984-1990). Also a director of Barrick Mining Corporation since Dec 2015, Onex Corporation, and Wittington Investments Limited.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Not scored. Smart-money tracking covers companies below about US$5B in market cap, where a single specialist fund or strategic investor taking a stake is a meaningful signal. This company was above that size when it was assessed.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Alamos Gold operates three districts: Young-Davidson and the Island Gold District in Ontario, and the Mulatos District in Mexico. At 31 Dec 2025 it reported 15.9 Moz of gold reserves plus 5.5 Moz of additional measured and indicated resources (21.4 Moz combined). There is no single company-wide study; the Island Gold District's February 2026 Expansion Study supports a 19-year life for that district, and each district's economics are shown on its project row.