Argonaut Gold

Alamos Gold Inc. agreed to acquire all shares of Argonaut Gold Inc. for total consideration of approximately US$325 million. The acquisition includes Argonaut's Magino mine adjacent to Alamos' Island Gold mine in Ontario, Canada, and is expected to create one of Canada's largest and lowest cost gold mines.

Argonaut Gold purchased one Liebherr PR 776 and three PR 766 mining dozers for its Magino gold mine project in Ontario, Canada. The order was signed at MINExpo 2021.

Argonaut Gold signed a fixed bid engineering, procurement, construction and commissioning contract with Ausenco Engineering Canada for the Magino processing facility and other parts of the mining project in Ontario, Canada.

Argonaut Gold selected Ausenco Engineering Canada for the engineering, procurement, construction and commissioning contract to build the processing plant at the Magino Mine near Dubreuilville, Ontario. The contract totals approximately 40% of the mine's initial capital estimate of between $480 million and $510 million.