Kirazli and Agi Dagi -Alamos' two large development projects in Turkey

Kirazli and Agi Dagi -Alamos’ two large development projects in Turkey

Alamos Gold (AGI:TSX) announced that it has received final signatures from the Turkish Ministry of the Environment and Urbanization for its Kirazli gold project located in Turkey.  The EIA on the Agi Dagi project has been progressing as well and is now at the final stages for approval.  With no debt and approximately $475 million in cash, Alamos is fully funded for the development of these Turkish assets which, added with this permitting decision and its industry leading low all-in cash costs, makes Alamos a low risk company in the low gold price environment.  Alamos expects the Kirazli project to take 18 months of construction.  This represents a significant point for the mining sector in Turkey as there are many pipelined projects in the works there including Dr. Mark O’Dea’s Pilot Gold (PLG:TSX) which is developing the TV Tower and Halilaga projects.

News Release here: Alamos Receives Final Signatures for Approving Kirazli EIA