Alamos at Mining Forum Americas 2026: cash flow, growth and mine-life focus

On Tuesday, September 29, 2026, Alamos (APM) spoke at Mining Forum Americas 2026 about a company with a strong financial position, low debt, and a focus on extending the life of its assets. Management highlighted risks related to metal price volatility, ore supply, and the need to convert exploration gains into long-term production.

The company, operating in Bolivia and California, has built a resilient balance sheet to support growth and potential acquisitions. Its two main assets, San Bartolomé and Golden Queen, remain crucial to their plans.

San Bartolomé, an industrial processing facility complex in Potosí, Bolivia, aims to increase throughput by 21%. Alamos is developing this asset through equipment upgrades, leach pad expansion, and a new technical report expected before year-end. The company owns 48% of Alamos' equity, ensuring decisions align with shareholder outcomes.

As of June 30, 2026, Alamos had liquid assets of over $170 million and total debt of about $30 million. A $40 million credit facility from the National Bank of Canada provides additional borrowing capacity, with $15 million already drawn.

Golden Queen, located in Kern County, California, focuses on extending its mine life and improving operational flexibility. The 1,100-acre site operates a 12,000-ton-per-day open-pit leach process. The company completed drilling campaigns in 2024, 2025, and 2026, expanding to three rigs and adding 12.5 kilometers of geophysics and surface sampling in 2026.

They installed additional equipment, including a stacker and agglomeration drum and implemented grade ore control measures. A technical report extending mine life is scheduled before year-end, with plans for a leach pad expansion of about 3 million tons of additional capacity. Golden Queen is also venturing into a small aggregate business.