Minera Alamos pegs Q4 Pan production at 9,165 oz Au

Executive Summary

• Minera Alamos reported preliminary Q4 2025 gold production of 9,165 ounces from its Pan operating complex, exceeding the previously forecasted range of 8,500 to 9,000 ounces.
• Full-year 2025 gold production totaled 35,303 ounces, meeting the annual guidance range of 30,000 to 40,000 ounces.
• The company reported preliminary Q4 2025 cash costs of $1,549 per ounce and All-In Sustaining Costs (AISC) of $1,604 per ounce, with an unrestricted cash balance increasing to $34 million as of December 31, 2025.

Key Details

• Q4 2025 Gold Production: 9,165 ounces from the Pan operating complex.
• Q4 2025 Gold Sales: 8,492 ounces sold in Q4; the remaining 673 produced ounces were sold at the beginning of 2026.
• Full Year 2025 Production: 35,303 ounces, achieving the annual guidance of 30,000 to 40,000 ounces.
• Q4 2025 Cost Metrics:
  • Preliminary Cash Costs: $1,549 per ounce.
  • Preliminary All-In Sustaining Costs (AISC): $1,604 per ounce.
  • Note: Final reconciled cash costs and AISC will be reported in the full quarterly report.
• Cash Position: Unrestricted cash balance increased to $34 million (unaudited) as of December 31, 2025.
• Acquisition Context: The Pan operating complex was acquired on October 1, 2025, making Q4 2025 the inaugural quarter of production under Minera Alamos ownership.
• Future Guidance: The company anticipates announcing 2026 guidance for the Pan mine in the coming weeks.

Notable Quotes

• Darren Koningen, CEO: "Having closed the acquisition of the Pan operating complex on Oct. 1, 2025, Q4 was our inaugural quarter as a gold producer in Nevada, USA. Our strong operating team at Pan showed a seamless transition under Minera Alamos ownership, resulting in gold production of 9,165 ounces at AISC of $1,604 (U.S.) per ounce. Combined with continued operating cost discipline and strong gold prices in Q4, we ended the year with a record cash balance of $34-million (U.S.)."
• Darren Koningen, CEO: "With the Pan mine as our cash flow engine, Minera Alamos is well positioned to execute on our strategy to become a leading, Americas-focused intermediate gold producer by growing production and developing our pipeline of high-quality, low-capital projects while expanding gold resources across our portfolio."