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    Charles Ehidiamhen

    Senior Equity Research Associate at RBC Capital Markets

    Charles Ehidiamhen is a Senior Equity Research Associate at Scotiabank (Scotia Capital Inc.), specializing in the coverage of North American mining companies, with active research on firms such as OceanaGold Corporation. He has contributed to equity research reports used by institutions, supporting rating changes and target price recommendations, with notable coverage including analyst contributions to stocks generating 1-year forward returns of over 30%. Ehidiamhen holds the CFA designation, is an MBA graduate, and is a member of the Association of Chartered Accountants (ACA). He has previously served on the Africa Institute Community Advisory Board at Western University and began his current role in 2022 after completing his graduate studies.

    Charles Ehidiamhen's questions to ALAMOS GOLD (AGI) leadership

    Charles Ehidiamhen's questions to ALAMOS GOLD (AGI) leadership • Q4 2024

    Question

    Charles Ehidiamhen of RBC Capital Markets inquired about the realization timeline for synergies from the Island Gold and Magino combination, the duration of tax deferrals from acquired tax pools, the cause of lower-than-guided grades at Young-Davidson in 2024, and the primary drivers of cost inflation at that operation.

    Answer

    CFO Greg Fisher explained that capital synergies were realized in 2024-2025, with operating synergies of approximately $25 million per year ramping up from 2026. He also noted that acquired tax pools will defer significant Canadian cash taxes for about two years, likely until 2027. COO Luc Guimond attributed the 2024 grade variance at Young-Davidson to minor stope sequencing changes, expecting grades to normalize in 2025 and rise in subsequent years. Greg Fisher added that cost pressures at Young-Davidson stem from inflation, lower grades due to sequencing, and the timing of sustaining capital.

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