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Why is the Kirazli Project so Exciting?

Finance

Since 2003, Canadian-based gold mining enterprise Alamos Gold has been a formidable presence in the gold mining industry. The company, which was founded less than two decades ago, already manages several successful mines in North America (the Young Davidson and Island Gold Mines in Northern Ontario) as well as in Central America (the Mulatos Mine in the Sonora state in Mexico). These movers and shakers have shown that they not only have the know-how to extract a great many ounces of gold from the belly of the earth, they also are willing to learn from experience and implement eco-conscious practices into their gold mining projects.

Just one example is the way in which Alamos has relinquished the use of cyanide at the Mulatos Mine (and is in the process of doing so at other mining sites as well). Cyanide is a toxic chemical that is often used in mining enterprises, but the CEO of Alamos, John A. McCluskey, saw to it that all cyanide would be set aside, seeing as the safety of the local groundwater was more important. That’s the kind of social responsibility that defines Alamos, a company that states its core values as “safety, teamwork, environmental sustainability, integrity, and commitment.”

More recently, Alamos has turned its sights on a more global gold mining project, specifically in the Kirazli region of the Republic of Turkey. Having signed an agreement with the Turkish government and obtained a mining license, McCluskey and the whole Alamos team are now excited to bring the Kirazli project to fruition. So, why is Alamos Gold in Turkey such an exciting gold mining project? Read on to learn more.

Alamos Gold brings a community-minded approach to extracting ounces of gold

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As the Alamos Gold website states, this enterprise and its subsidiaries take a global approach to their work. That means that they intend on treating the local communities as their community, whatever form that comes to take. One way in which this expresses itself is in how Alamos Gold Inc. is maintaining an active presence in the region. The gold miner professionals aren’t interested in taking their ounces of gold and heading home—they want to connect with the local Turks and find ways to be a boon to the community, not a burden.

Kirazli has great potential—for Alamos, its subsidiaries, and any investors

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Fiscally speaking, the Kirazli project is a winner. Alamos Gold Inc. projects that it will create 2,000 jobs for local Turks, and the company also predicts that this Turkish project will result in the extraction of 1.8 million ounces of gold when all is said and done. For anyone invested in Alamos (which trades on NYSE and TSX as AGI), that means glowing financial statements and great gains. After all, every ounce that comes out of those mines means good news for stakeholders in the value of the company. If you dabble in the stock exchange, it might be worthwhile to buy up some AGI soon.

Alamos Gold is setting a precedent on protecting natural resources

While a miner will inevitably create some damage to the local landscape (a certain number of trees needs to be removed, for example), there are also ways to mitigate that damage. Alamos Gold Inc. is interested in leading the charge when it comes to being an eco-conscious miner. Whether that means ensuring no cyanide ends up in the water of a nearby dam or paying for reforestation after the fact, this gold miner is making major concessions towards the environment. This may serve as a template for future gold miner professionals who may look to Alamos as an example of how to care for the environment, and the host communities when they consider best practices for gold mining projects in the future.