Alamos Gold to Net $470 Million from Sale of turkish Assets, Focus on North American Growth
TORONTO, ON – Alamos Gold Inc. (AGI) announced today it will sell its Turkish development projects to Tumad Mining for $470 million, a move the company says will allow it to significantly reduce debt and concentrate on lower-cost growth opportunities in North America. The deal, expected to close in the fourth quarter of 2025 pending regulatory approvals, will be paid in three installments.
The first $160 million installment is due upon completion of the transaction. A second payment of $160 million will be received in the first year following the closing, with a final $150 million due on the second anniversary. Alamos Gold intends to use the proceeds to pay down existing debt and fund key projects including the Island Gold Phase 3+ Expansion, Lynn Lake, and Puerto Del Aire in Mexico.
This strategic divestiture allows AGI to unlock value from its assets and prioritize projects with strong growth potential within North America, according to the company.
In its second-quarter 2025 earnings report, Alamos Gold recorded adjusted earnings of 34 cents per share, exceeding the Zacks Consensus Estimate of 33 cents. This represents a 42% increase year-over-year and falls within the company’s previously stated guidance of 74-84 cents. Total revenues for the quarter reached $438 million, up from $333 million in the same period last year.
Over the past year, Alamos Gold shares have increased in value by 60%, though slightly trailing the industry’s 70.6% surge. The company currently holds a Zacks Rank #3 (Hold). Zacks Investment Research also highlights The Mosaic Company (MOS), Agnico Eagle Mines (AEM), and Carpenter Technology Corporation (CRS) as perhaps stronger buys within the basic materials sector.