Mining Stock Daily Minera Alamos Strategy for US Growth Following Pan's Updated Resource and Reserves
Mar 12, 2026
David Stewart, Minera Alamos executive focused on corporate strategy and U.S. growth. He outlines a PAN resource update and how Goldrock will be integrated into a two-pit Pan complex. He previews a Copperstone PFS due in April and discusses energy exposure, refinancing plans, and a strategic rebrand to emphasize U.S. expansion.
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Pan Update Offset Three Years Of Depletion
- Minera Alamos' Pan resource update essentially replaced three years of mined ounces, leaving reserves nearly unchanged at ~255,000 oz.
- The update used a conservative $2,600/oz gold price and was a regulatory step toward an optimized integrated study with Goldrock.
Integrated Pan Complex With Goldrock For Synergies
- Management plans an integrated Pan operating complex combining Pan and Goldrock to evaluate higher throughput and synergies.
- Goldrock would have a standalone leach pad with loaded carbon trucked to Pan's carbon stripping circuit to extend mine life and lower incremental capital.
Goldrock Offers More Exploration Upside Than Pan
- Exploration upside at Pan is limited to smaller satellites like Mustang, while Goldrock offers higher near-surface targets and potential resource growth.
- Company is allocating most exploration budget toward Copperstone, which they view as the most exciting target.