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Highlights

  • Transaction includes Kirazlı, Ağı Dağı, and Çamyurt projects with $470 million cash consideration
  • Payment structured as $160 million upfront and $310 million over two years
  • Arbitration proceedings with Turkey to be discontinued following agreed milestones

Alamos Gold Inc. (NYSE:AGI) announced it has entered into a definitive agreement to sell its Turkish subsidiary, which owns the Kirazlı, Ağı Dağı, and Çamyurt gold projects, to Tümad Madencilik for total cash consideration of $470 million.

Under the terms of the agreement, Alamos will receive $160 million in cash at closing and two guaranteed installments totaling $310 million over the following two years. The deferred payments will be secured by bank guarantees from investment-grade financial institutions. The transaction is expected to close in the fourth quarter of 2025, subject to customary regulatory approvals and closing conditions.

Alamos stated that the proceeds from the sale will be directed toward funding its North American growth pipeline. This includes advancing the Phase 3+ Expansion at the Island Gold District, construction of the Lynn Lake Project in Manitoba, and development of the Puerto Del Aire Project in Mexico. The company also plans to use a portion of the proceeds to reduce its outstanding debt obligations.

As part of the agreement, ongoing arbitration proceedings between Alamos’ Netherlands-based subsidiaries and the Republic of Turkey will be discontinued after certain agreed milestones are met. The arbitration had been initiated in connection with prior permitting issues for the Kirazlı project.

In a statement, Alamos said, “The sale of our Turkish assets allows us to unlock significant value while redeploying capital into high-return projects in North America, consistent with our strategy to focus on jurisdictions where we have existing operations.”