Mining Americas Inc.
Mining Americas is a growing North American gold producer operating the Santana mine in Sonora, Mexico and the Pan Operating Complex — the producing Pan mine and permitted Gold Rock project — in Nevada, alongside the Cerro de Oro and La Fortuna development projects in Zacatecas and Durango, Mexico and the permitted Copperstone development project in Arizona.
Notable vs. Peers
- Jurisdiction risk score of 6/10 is meaningfully riskier than the peer average of 7.8/10.
Lifecycle Milestones
Construction Milestones
5 of 5 reached- Aug 2019 · Source
- Jan 2020 · Source
- Jan 2020 · Source
- Oct 2021 · 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.
Combined view across 2 projects. Figures below are only combined where the underlying basis genuinely matches -- see the notes under each.
- 108%Copperstone Gold Project, Arizona, USA
- 6.3 yrsCopperstone Gold Project, Arizona, USA
Jurisdiction (40%)6/10
Sonora, Mexico (primary asset) — moderate mining-sector political risk, generally stable operating environment.
Infrastructure (40%)8.6/10
A confirmed mill, confirmed road access, and a confirmed tailings facility at Santana Mine, Sonora, Mexico (plus Pan Mine, Nevada & Copperstone, Arizona); 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: Palmarejo (Coeur Mining, Inc.), 119 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 scored
No producer holds a disclosed stake on file (holder register researched) See holders
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:2.7/10
Nearest producing mine: Palmarejo (Coeur Mining, Inc.), 119 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:6/10
Mexico: jurisdiction score 6/10
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
Chief Executive Officer of Minera Alamos Inc. (rebranding as Mining Americas Inc.); also Chairman of the Board of Barksdale Resources Corp. Mining executive and Chartered Accountant with 25+ years in mining finance and senior roles, including 11 years at Barrick Gold leading major acquisitions.
President, Chief Operating Officer and Director of Minera Alamos Inc. Over 25 years in international mining with expertise in metallurgy and operations; founded Castle Gold and led NWM Mining's restructuring and turnaround. BSc, P.Eng.
Chief Financial Officer of Minera Alamos Inc. Trilingual finance executive with 30+ years leading public companies in mining, lumber and renewable energy, including prior CFO roles at Jaguar Mining and Excellon Resources. CA, CPA.
Executive VP, Mining Operations at Minera Alamos Inc. 33+ years of international mining operations leadership, including CEO of Jerritt Canyon Gold. BSc, P.Eng.
Vice President, Corporate Development & Capital Markets at Minera Alamos Inc. Mining engineer with 15 years of progressive leadership in mine development, equity research and investor relations. P.Eng.
Vice President, Exploration at Minera Alamos Inc. Geological engineer with 20+ years in mineral exploration and mining operations, including leading resource expansion at El Castillo. BEng, P.Eng.
President, Mexican Operations at Minera Alamos Inc. Mining engineer with 35 years of experience in academia, government and mining in Mexico, overseeing operations and mine planning. MEng.
Insiders, Investors & Smart Money
Notable shareholders and insiders whose involvement is worth knowing about, plus what we're seeing from institutional/large-investor activity.
Equinox Gold received 96,802,816 shares (9.15%) of Minera Alamos as the equity half of the US$115 million Pan Complex acquisition, agreed August 2025 -- but it did not stay a holder: following Minera Alamos's 10:1 share consolidation (5 January 2026), a subsidiary of Equinox Gold sold its entire remaining position (9,680,281 post-consolidation shares) to a group of strategic investors for C$56.1 million gross in February 2026, confirmed in Equinox's own Q1 2026 financial statements. Equinox holds 0% today. The dedicated gold fund ASA Gold and Precious Metals holds roughly 5.25%, built through the C$135 million bought deal that closed in September 2025. Osisko took 19.9% back in 2017 and still had 17.2% in 2021, but whether it has held on through the very large financings since is not disclosed.
No notable insiders tracked for this miner yet.
Reports, Presentations & Documents
Mining Americas, formerly Minera Alamos, is a gold producer operating the Santana open-pit heap-leach mine in Sonora, Mexico, and the Pan Operating Complex in White Pine County, Nevada, made up of the producing Pan mine and the permitted Gold Rock project. Its development projects are Copperstone in Arizona, Cerro de Oro in Zacatecas and La Fortuna in Durango. Company-wide measured and indicated resources are 1,781,000 oz of gold (748,000 oz measured and 1,033,000 oz indicated), inclusive of reserves, plus 1,047,000 oz inferred. The May 2026 pre-feasibility study for Copperstone shows an after-tax NPV5% of US$374M and a 108% IRR at US$3,500/oz gold over a 6.3-year mine life, and a concurrent construction decision is redeveloping it as an underground mine. All-in sustaining cost at Pan was US$1,818/oz in Q1 2026.
Copperstone Gold Project (Arizona) PFS (27 May 2026): after-tax NPV5% of US$374M and IRR of 108% at a base case of $3,500/oz gold (rising to US$537M/154% IRR at $4,500/oz spot). Proven+Probable reserve of 303koz gold, 6.3-year initial mine life, ~46koz/year average production, $1,314/oz AISC, $58M initial capex, 1.2-year payback. Separate from this miner's Santana (Sonora) and Pan (Nevada, 222koz P+P reserve) mines.