TSXV:GFG - Post Discussion
Post by
Jennifer2020 on May 08, 2020 5:49am
Alamos Gold
Shares peaked at $19 in 2012 Just released financials Apr 29 These boys don't dilly daly around. They have a huge war chest.
This company is about production and dividends. I believe GFG found an excellent JV partner
- Drew $100.0 million from the Company's credit facility, leaving $400.0 million undrawn at March 31, 2020
- Ended the quarter with cash and cash equivalents of $214.7 million and equity securities of $15.6 million
- Repurchased a 3% net smelter return ("NSR") royalty payable on the majority of Mineral Reserves and Resources at Island Gold for cash consideration of $54.8 million. This has reduced the effective royalty rate from 4.4% to 2.2% on Mineral Reserves, and has reduced 2020 total cash costs at Island Gold by approximately $45 per ounce
- Paid a quarterly dividend of $5.9 million, representing a 50% increase in the quarterly dividend to an annual rate of $0.06 per share, and adopted a Dividend Reinvestment and Share Purchase Plan ("DRIP")
- Repurchased 1,133,561 common shares at a cost of $5.5 million, or $4.90 per share, under the Company's Normal Course Issuer Bid ("NCIB")
- Reported updated year-end 2019 Mineral Reserves and Resources, highlighted by a substantial increase in Mineral Reserves and Resources at Island Gold totaling 0.9 million ounces
- Announced the temporary suspension at Island Gold on March 24, 2020 and Mulatos on April 2, 2020; subsequent to quarter-end, withdrew 2020 guidance
Be the first to comment on this post