Sathish Kasinathan
BofA Securities, Research Division

Good morning, everyone. I'm Sathish. I'm part of the North American Metals and Mining Equity Research Team here at BofA. And I'm pleased to welcome John McCluskey, the CEO of Alamos Gold. So John has chosen a hybrid format, so he will start with a few slides, and then we'll jump into Q&A. John, over to you.

John McCluskey
President, CEO & Director

Thank you.

Sathish Kasinathan
BofA Securities, Research Division

Thank you for being here.

John McCluskey
President, CEO & Director

Thank you. Thanks for having us. I'm just going to go over a few slides from our presentation deck. They help more or less orientate anybody, especially anybody new to the story. Alamos has an amazing track record for growth. We -- this company basically started in the early 2000s with an asset that we picked up when gold was under $300 an ounce.

We secured an option to purchase our first asset, the Mulatos project. The company that had it, Placer Dome, they put about $50 million into that project over about a 6-year period. But as they were spending that money, the gold price was just going down and down and down, and they had several changes at the top. And by the time this new CEO had come in, in the early 2000s, he wanted to sort of get out of Mexico and shed noncore assets and Mulatos was sold at around CAD 10 million, roughly USD 7 million at the time. And we took that asset.

And