(Kitco News) - The focus at Minera Alamos is building mines, said President Doug Ramshaw.
Kitco Mining correspondent Paul Harris spoke to Ramshaw at Mines and Money London held from November 29 to December 1.
Minera Alamos (CVE:MAI) is a new gold company focused on Mexico. The members of the company’s operating team together brought four mines into production in Mexico over the last 13 years. Assets include its 100%-owned Santana open-pit, heap-leach gold mine in Sonora, which is currently ramping up toward commercial production. Other assets include the Cerro de Oro oxide gold project in northern Zacatecas and the La Fortuna open pit gold project in Durango.
Ramshaw said the company prefers to fund exploration using cash flow from operations.
"It's kind of classic, Australian bootstrapping. We don't need to define the whole global resource and scale a mine, especially in open-pit, heap leach operations, which can be modularly expanded," said Ramshaw. "That allows us to take a 300,000 to 400,000 ounce resource and say 'yeah, we can build a mine here.' We can also see where the exploration upside is, but instead of funding that exploration by going back to the market every six months to pay for drilling, we'd rather do it out of the cash flow of a small-scale operation."
This approach also represents the company's niche.
"It seems everyone wants to find stuff, but who's going to build it? That's the key focus of our team," said Ramshaw.
Ramshaw was also a director of Great Bear Resources, which sold to Kinross Gold in 2021 for C$1.8 billion.
Coverage of Mines and Money London sponsored by Discovery Group.
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