Alamos Gold Inc. (NYSE:AGI) Q3 2023 Earnings Call Transcript

Luc Guimond: Hi. Yes, its Luc here again. Yes, I mean, we have started mining some of those, certainly some parallel zones in the north south zone that we’ve talked about previously. So we started some of that late in Q3, there’s opportunity, certainly to bring some more of that in into Q4. But as we further understand it and develop it we’ll actually start to yes incorporate that into the mine plan over the longer term.

Ovais Habib: Okay, sounds good. So, eventually, in terms of what you see in terms of the firewall structure, they’re closer to existing. So it’s not like you’d have to do a lot more development to access these zones?

Luc Guimond: No. Because, these are kind of running off of the east west, striking zones that we’re currently mining. And from a sequence perspective, actually, it makes more sense to incorporate these into the mine plan as we’re in those areas, just as from a point of view of just following a proper sequence and being able to basically extract the zones and retreat in those areas based on our launch tool or retreat mining method.

Ovais Habib : Yes, thanks, thanks for the color on that Luc. Just switching gears to PDA, just follow up call on to Mike’s question. I believe the expectation is to release a new mine plan in Q1 next year. You know, so in regards to the advancement of PDA, what kind of permits will be required and you see any risk to those permits?

Luc Guimond: Sorry, that was in relation to PDA.

Ovais Habib : That’s correct.

Luc Guimond: So as I mentioned there, we’re looking to have a development study by the end of the year. End of Q4 in Q1 at the latest. With regards to permits, we’ve basically within our, all of this, the mining and the milling operations will be all within our existing concessions. So it would be just a question of getting an amended [indiscernible] basically, which is what it’s referred to in Mexico, because of the fact that it’s not new processes. We’ve done underground mining there in the past. So it’s not new to the district. We had a milling process as well a conventional milling process in the past as well. So that’s not new to the district. And as a result of that, we would just be looking to get amendments to our existing [indiscernible] to be able to construct the new requirements for the mining milling operations for PDA.

Ovais Habib : Perfect, thanks. Thanks, Luc for that. And that’s it for me. And thanks for taking my questions.

Operator: Thank you. Our next question is from Kerry Smith. Please go ahead.

Kerry Smith : Thanks, operator. Luc for the Phase 3 at Island, you have $162 million for development underground, and you’ve completed $64 million, can you just remind me how many meters of development is included in that $162 million number?

Luc Guimond: I say it’s at least a couple of kilometers plus, on that one Kerry. I have to get back to you to get a more firm number. But that’s in relation to all of the shop access development, all the other development that’s required to establish that infrastructure as far as crushing rock rakers, loading pocket, everything associated with all of that infrastructure for the underground. But I’d have to get back to you with a firm number on that.

Kerry Smith: Okay. And that you’re doing that development with your own crews? Correct?

Luc Guimond: Correct. For the most part, I mean, we do still have Redpath doing some of the development shaft, the shaft ramp access development, but starting next year, it’ll be 100% Alamos development crews.