Alamos Gold is a Canadian gold mining company that mines and sells gold from three producing operations in North America. The flagship asset is the Island Gold District in Ontario, which combines the high-grade Island Gold underground mine with the Magino open pit mine, sharing milling infrastructure and accounting for roughly 46% of total production. Young-Davidson, also in Ontario, is a steady underground mine contributing about 28% of production. The Mulatos District in Sonora, Mexico, uses heap leach processing and accounts for the remaining 26%. Alamos sells gold directly to refiners and financial institutions at the prevailing spot price, with minimal hedging, giving the company near-full exposure to gold prices. Profitability is driven by the spread between the realized gold price and all-in sustaining cost (AISC), which includes operating costs, royalties, sustaining capital, and overhead. Alamos is currently in a heavy investment cycle across three growth projects: an expansion of the Island Gold District that targets more than doubling production there by 2028, a new underground mine at the Mulatos District targeting higher-grade ore with initial production in mid-2027, and the Lynn Lake greenfield open pit project in Manitoba targeting first production in 2029. Management funds growth capex primarily from operating cash flow. Together, these projects underpin a target of roughly 800,000 ounces annually by 2028, growing toward 1 million ounces by 2030 at progressively lower costs.