Alamos Gold at Mining Forum Americas 2026: growth plan gains focus

On Monday, September 28, 2026, Alamos Gold (AGI) presented its growth strategy at the Mining Forum Americas. The company aims to double its annual gold production from just over 500,000 ounces to 1 million ounces by 2030, with new production expected to have lower costs than current operations. Alamos will focus on expanding its North American portfolio through Island Gold, Lynn Lake, and Magino.

Island Gold is the main growth engine, with reserves exceeding 5 million ounces and a new shaft set to commence operations in 2027. Young-Davidson is being resequenced for recovery, while Magino is being upgraded to double throughput. The company prefers countercyclical acquisitions but has found few attractive deals currently. Alamos' 2030 goal is a $20 billion valuation, up from a penny stock valuation of $15 million two decades ago.

The company's stock appears undervalued, placing it among the platform's most undervalued stocks. Island Gold's proven and probable reserves amount to more than 5 million ounces, with grades improving from 9 grams per ton to 11 grams per ton. A new 1,382-meter shaft is under construction and expected to be commissioned in Q1 2027, doubling underground mining output to 2,400 tons per day in 2027 and rising to 3,000 tons per day in 2028.

Alamos also aims to double Magino's throughput to 20,000 tons per day and improve operational efficiency at Young-Davidson, which remains profitable despite a 2026 seismic event.