Can Island Gold District Boost Alamos Gold's Long-Term Growth? - The Globe and Mail

AI desk brief

Alamos Gold’s Island Gold District produced 128,700 oz in H1 2026, up 4% y/y, including a record 67,500 oz in Q2; group Q2 gold production was 130,600 oz, in line with revised guidance of 130,000-135,000 oz. The district now has 8.2Moz of proven and probable reserves and is on track to produce 290,000-310,000 oz in 2026, with expansion work aimed at lifting output above 530,000 oz/yr for 10 years post-expansion at low industry costs.

Operationally, underground mining at Island Gold averaged a record 1,550 tpd in Q2 and Magino milling reached a record 8,900 tpd. Shaft commissioning and equipping continue through 2026, with the company targeting a further lift in underground mining rates in 2027 and around 1Moz/yr by 2030.