Alamos Gold Secures $116M Deal to Boost Exposure to Rising Gold Prices
Portfolio Pulse from Benzinga Newsdesk
Alamos Gold Inc. (NYSE:AGI) has entered into a $116 million gold sale prepayment agreement to eliminate a significant portion of Argonaut Gold's hedge book, increasing its exposure to rising gold prices. The deal involves the delivery of 49,384 ounces of gold in 2025.
July 15, 2024 | 11:00 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Alamos Gold Inc. (NYSE:AGI) has secured a $116 million gold prepayment deal to eliminate a significant portion of Argonaut Gold's hedge book, increasing its exposure to rising gold prices. This move is expected to positively impact the company's stock price in the short term.
The elimination of a significant portion of Argonaut's hedge book and increased exposure to rising gold prices are likely to be viewed positively by investors, potentially driving up the stock price of Alamos Gold in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100