Doug Ramshaw, President of Minera Alamos (TSX.V:MAI – OTCQX:MAIFF), joins us for a comprehensive review of the Santa Mine operations and production expansion in 2024 in Sonora, Mexico; as well as the further derisking work going on, while awaiting the permits, at the Cerro De Oro gold development project in Zacatecas, Mexico.  

At Santana, the Company has completed plans to optimize the use of existing installed leach pad capacity to boost production on a go forward basis. As outlined in a February 22^nd release, these plans involve mining and stacking of approximately 25,000 oz of gold over a 12-month period that will commence in May 2024 and should see a significant improvement in gold production relative to 2023 levels, beginning in Q3 and extending through to into 2025 before an expected normalizing of operations at Santana thereafter. Following the conclusion of planning with the Company’s existing mine contractor, their operating fleet and infrastructure has been updated (mining and crushing) to suit the current mine plans for the Nicho Main pit. Blasthole drilling is underway with mining operations to follow.

The company is still advancing permitting, engineering, metallurgical work, geological, and other geotechnical work to continue to de-risk the Cerro de Oro Gold Project as it moves down the pathway into production as the Company’s second operating gold mine. Initial projections were for this mine to produce 60,000 ounces annually for 8+ years, but Doug also highlights the upside potential through exploration and resource expansion, as well as the leach pad capacity, where the goal is to see if the potential is there to eventually push production to upwards of 80,000 – 90,000 ounces per annum over more like 11-12 years. Engineering work continues to progress for Cerro de Oro in order to advance pre-development activities to coincide with the ultimate receipt of permits and a construction decision for the project.

Wrapping up, we also discussed the news about the recent acquisition of the Suaqui Verde copper project will allow the Company to start a series of internal engineering studies aimed at the best path(s) for the development of a regional copper developer/producer focused on low capital intensity copper projects. The combination of Los Verdes, Poteritos and Suaqui Verde allows for further consolidation of similar type assets that could form a regional copper production “hub” in the area where the Company already maintains a significant presence.

Please email us with any follow up questions for Doug regarding Minera Alamos. Our email addresses are Fleck@kereport.com and Shad@kereport.com.

• In full disclosure, Shad is a shareholder of Minera Alamos at the time of this recording. 

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