Minera Alamos is an advanced-stage exploration and development company with a growing portfolio of high-quality Mexican assets, including the La Fortuna open pit gold project in Durango with positive PEA completed (permits awaiting issuance) and the Santana open pit heap-leach development project in Sonora with test mining and processing completed (permits pending). The Company anticipates making a construction decision at Santana in 2019 and advancing both Santana and Fortuna to production in 2019-2020.
The Company’s strategy is to develop low capex assets while expanding the near mine resource and pursuing complementary strategic acquisitions. Minera has one such development pipeline project through the option agreement to earn 100% of the Guadalupe de Los Reyes open pit gold-silver project in Sinaloa.
Mining in Mexico
Mexico is the largest producer of silver in the world and a top global producer of gold, copper and zinc and other important metals and minerals. With its 500-year mining history, stable government and attractive mining investment environment, Mexico ranks globally as one of the most favoured mining and exploration jurisdictions.
Despite its extensive mining history, Mexico’s mineral potential remains very strong with multiple, productive metallogenic belts and a considerable portion of the country still deemed underexplored.
Permitting in Mexico
Permitting is a very straightforward and transparent process in Mexico. Typically the process takes less than 12 months and a core competency of Minera’s team is understanding and successfully navigating within the regulatory regime of the mining sector in Mexico. This was highlighted with the recent positive notification of the permits for the La Fortuna gold project. The Company anticipates a similar result early in 2019 for the amended commercial scale permits submitted for the Santana project and are expected early in 2019.