Mining Americas Reports Third Quarter 2026 Gold Production and Provides Notice of Third Quarter Results and Conference Call
Minera Alamos reported a third consecutive quarterly production decline, undermining its promised second-half output ramp.
Minera Alamos Inc. (MAI) released a preliminary production and operations update for the third quarter of 2026, ending September 30. The company produced 7,915 oz of gold and sold 7,620 oz during the quarter. Year-to-date production stands at 24,786 oz.
Mining activity averaged approximately 59,000 tonnes per day (tpd) in Q3, a rate described as broadly consistent with the second quarter and approximately 31% higher than in 2025. MAI reaffirmed its full-year 2026 guidance, keeping it unchanged at 32,000–38,000 oz.
Unaudited cash balances were $36 million at September 30, down from $43 million at June 30. The $7 million decline in cash reflects a $5.3M payment to ratify the Cerro de Oro land-use change permit, Copperstone construction spending, and increased waste stripping at Pan.
The full Q3 financial report and a conference call are scheduled for November 16, 2026.
Minera Alamos Inc. (MAI) reported a decline in sequential production, casting doubt on its previous assertions that operations were on track. The company’s updated guidance midpoint now requires a fourth-quarter production jump of approximately 10,200 ounces, a target that current run-rates do not support.
A significant revision to the mining rate further complicates the company's outlook. Management reduced the expected throughput from "nearly 100,000 tpd in H2" to approximately 59,000 tpd, a move that undermines the credibility of the previously stated ramp narrative.
Regarding liquidity, cash decreased by $7 million. However, $5.3 million of that decline was attributed to a one-time payment for the Cerro de Oro permit, leaving underlying operating and development cash use at a modest level.
Minera Alamos Inc. (ticker MAI) is a Toronto-based, U.S.-focused gold producer and developer. The company’s Pan Operating Complex in Nevada, which it owns 100%, includes a producing mine and the adjacent permitted Gold Rock project, serving as its primary cash-flow engine. In Arizona, the company holds a 100% interest in Copperstone, an underground gold project currently under construction with first production targeted for mid-2027. In Zacatecas, Mexico, Minera Alamos owns 100% of Cerro de Oro, a permitted open-pit heap-leach development for which a construction decision is targeted for 2027. Additional exploration and preliminary economic assessment-stage assets in Mexico include Santana, La Fortuna, and Los Verdes. The company’s management team includes CEO Darren Blasutti, President and COO Darren Koningen, EVP Operations Kevin Small, Chairman Darren Pylot, and CFO Alfred Colas.