Amarillo Gold
Amarillo Gold Corporation was a Canadian gold development company advancing the Posse Gold Project in Goiás and the Lavras do Sul exploration project in Brazil. Pre-production with 902,000 ounces of P&P reserves, acquired by Hochschild Mining in April 2022 for C$164.5 million.
- Company typePublic
- Founded2006
- HeadquartersVancouver, Canada
- Headcount11–50
- GTM typeB2B
- OfferingHardware or Manufacturing
What Amarillo Gold does
Amarillo Gold Corporation was a Canadian-domiciled, British Columbia-incorporated gold mining development company founded in 2006 and focused on acquiring, defining, and discovering gold resources in Brazil. The company advanced two primary assets: the flagship Posse Gold Project (development stage) at Mara Rosa in Goiás State and the Lavras do Sul exploration project in Rio Grande do Sul, covering approximately 89,371 hectares of prospective geology. Posse was underpinned by Proven and Probable reserves of 902,000 ounces at 1.18 g/t gold with an initial 10-year mine life, projected to produce 102,000 ounces per year in its first four years and 84,000 ounces annually on average, with average recoveries of 89.9%.
The company's core technology centered on conventional open-pit mining using contract miners with drill and blast, hydraulic excavators, and haul trucks feeding a carbon-in-leach (CIL) processing plant, with Metso Outotec crushing station equipment selected for the processing circuit. A key technical differentiator was the early adoption of dry stack filtered tailings technology, which reduced raw water demand from 720 m³/hour to 136 m³/hour (roughly an 80% reduction) and was cited as well-received by Brazilian regulators. The company had secured all three major Brazilian regulatory permits, including the License to Install in February 2021, and had entered into a commitment agreement with Enel Brasil for a dedicated 67-kilometre, 138-kilovolt power line from Porangatu to Mara Rosa with locked-in electricity pricing.
Amarillo operated a pre-production business model with no operational revenue and was financed through Canadian public capital markets (TSXV: AGC and OTCQB: AGCBF). Its go-to-market was investor relations-led, targeting institutional and retail investors via webcasts, mining conferences, and dedicated IR communications. The company was actively arranging construction financing of approximately C$133 million (base case) for Posse when Hochschild Mining PLC announced on November 29, 2021 a plan of arrangement to acquire Amarillo for approximately C$164.5 million — C$0.40 per share in cash plus one share of a newly formed Lavras Gold Corp. spinout per Amarillo share — representing a 66% premium over the 20-trading day VWAP. The transaction closed April 1, 2022, at which point Amarillo became a wholly owned subsidiary of Hochschild and was delisted from both exchanges.
Amarillo Gold firmographics
Firmographics- Name
- Amarillo Gold
- Legal name
- Amarillo Gold Corporation
- Website
- https://amarillogold.com
- Company type
- Public
- Founded year
- 2006
- Operating status
- Acquired
- Headcount range
- 11–50 employees
- Short description
- Amarillo Gold Corporation was a Canadian gold development company advancing the Posse Gold Project in Goiás and the Lavras do Sul exploration project in Brazil. Pre-production with 902,000 ounces of P&P reserves, acquired by Hochschild Mining in April 2022 for C$164.5 million.
- Ownership category
- akta.pro rank
Amarillo Gold industry classification
Industry- Product category
- Gold Mining
- NAICS
- Gold Ore and Silver Ore Mining (212220), Gold Ore and Silver Ore Mining (21222), Mining (except Oil and Gas) (212)
- SIC
- Gold And Silver Ores (1040), Metal Mining (1000)
- akta.pro primary industry
- Gold Mining (IMAKAEAA)
- akta.pro secondary industry
- Precious Metals Exploration & Project Development (IMAKAEAI)
Keywords
Where Amarillo Gold is headquartered
LocationHeadquarters
- HQ city
- Vancouver
- HQ country
- Canada
- HQ region
- North America
Offices4 records
Markets served
Amarillo Gold business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Operations, Personnel, Infrastructure, Supply Chain, Technology or R&D, Marketing or Sales
Revenue model
- Gold Production and Sales: Once operational, the company will generate revenue through the production and sale of gold extracted from the Posse Gold Project. The mine is expected to produce approximately 102,000 gold ounces per year in its first four years, with an average of 84,000 ounces annually over a 10-year initial mine life. Average recoveries are expected to be 89.9%.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels6 records
Amarillo Gold product offering
Product offeringCore offering
Amarillo Gold was a pre-production gold development company advancing two gold projects in mining-friendly Brazilian states. Its flagship Posse Gold Project was a shovel-ready development-stage open-pit mine expected to produce approximately 84,000–102,000 ounces of gold per year over a 10-year initial mine life, while Lavras do Sul was an exploration-stage project spanning 22,000 hectares with 23 prospects.
Differentiator
Problem solved
Functional benefit
Products and services
- Posse Gold Project
Quantifiable outcome
- Annual gold production: 84,000-102,000 ounces at $631-$706 cash cost per ounce
- +3 more outcomes
Companies that use Amarillo Gold
Customer profileSegments1 record
Ideal customer profiles2 records
Amarillo Gold technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature2 records
Amarillo Gold partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and minor.
- Enel BrasilcoreEnel Brasil (state electric power utility) signed a commitment agreement to build a dedicated 67-kilometre 138-kilovolt power line from Porangatu to Mara Rosa. Enel will supply electricity to the Posse Gold Mine at locked-in prices.
- Computershare Trust Company of CanadaminorComputershare serves as Amarillo Gold's transfer agent, managing share registrations, certificates, and shareholder communications. Located at 8th floor, 100 University Avenue, Toronto, Ontario.
Scale indicators8 records
Recent moves7 records
Expansion highlights5 records
Amarillo Gold competitors and assessment
Company assessmentBroad incumbents
- Kinross Gold Corporation: Major gold producer operating the Paracatu mine in Brazil (Minas Gerais). Amarillo's CEO Mike Mutchler was previously Project Director at Paracatu, making Kinross the most direct large-cap operational analog for a Brazilian open-pit gold mine.
- AngloGold Ashanti plc: One of the world's largest gold producers with significant Brazilian operations (Minas Gerais, Goiás). Provides the senior-incumbent benchmark for what a scaled, multi-decade gold operator in Brazil looks like and where Posse-style deposits can evolve.
- Hochschild Mining PLC: Mid-tier precious metals producer (gold and silver) and Amarillo's acquirer. Operates mines across the Americas and provides the natural senior-incumbent benchmark for a Brazilian gold developer transitioning to production.
Direct peers
- Eldorado Gold Corporation: Mid-tier gold producer with operations across the Americas, Europe, and Turkey. Comparable as a multi-asset gold developer/producer of similar scale whose project economics, permitting experience, and capex execution provide a direct template for a project like Posse.
- Yamana Gold: Senior gold producer with a deep operational footprint in Brazil, including the same regions where Amarillo's management previously worked. Comparable as a Brazilian gold operator and a model for what a successful mid-cap Brazilian gold developer can become.
- IAMGOLD Corporation: Mid-tier gold producer with Brazilian operating experience (originally optioned ground that became part of Amarillo's Lavras do Sul land package). Comparable as a gold developer with West African and Brazilian exposure and a similar mid-cap profile.
- Equinox Gold Corp. Multi-asset gold producer with operating mines in Brazil (Aurizona, RDM, Fazenda). Directly comparable as a mid-cap gold company building and operating open-pit gold mines in Brazil, with a similar development-to-production profile.
Emerging players
- GoldMining Inc. Gold acquisition and development company with a portfolio of Brazilian and Latin American gold projects. Comparable as a pre-production gold developer aggregating multi-asset exposure in mining-friendly jurisdictions, including Brazil.
- Cabral Gold Inc. Junior gold explorer/developer focused on the Cuiú Cuiú district in Pará State, Brazil. Directly comparable as a Brazil-focused, single-asset gold developer at a similar stage of advancing from exploration toward construction.
- G Mining Ventures Corp. Junior gold developer building the Tocantinzinho open-pit gold project in Brazil (Pará). Directly comparable as a Brazil-focused, near-construction-stage gold developer with a single flagship asset and a similar mine-build profile to Posse.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Amarillo Gold social profiles
Digital presenceAmarillo Gold compliance and trust
Trust signalCompliance2 records
Amarillo Gold financial estimates
Financial estimateRevenue estimate
Valuation estimate
Amarillo Gold leadership team
Management profileNumber of profiles
Profiles6 records
Amarillo Gold funding detail
Funding detailFunding overview
Funding rounds2 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Amarillo Gold M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Amarillo Gold
What does Amarillo Gold do?
Amarillo Gold was a pre-production gold development company advancing two gold projects in mining-friendly Brazilian states. Its flagship Posse Gold Project was a shovel-ready development-stage open-pit mine expected to produce approximately 84,000–102,000 ounces of gold per year over a 10-year initial mine life, while Lavras do Sul was an exploration-stage project spanning 22,000 hectares with 23 prospects.
Is Amarillo Gold a public or private company?
Amarillo Gold is a public company. It is classified as corporate owned and is currently acquired.
When was Amarillo Gold founded?
Amarillo Gold was founded in 2006. It employs 11 to 50 people.
Where is Amarillo Gold based?
Amarillo Gold is headquartered in Vancouver, Canada, in the North America region.
How does Amarillo Gold make money?
One revenue line is on record: gold Production and Sales.
Who are Amarillo Gold's main competitors?
Broad incumbents on record are Kinross Gold Corporation, AngloGold Ashanti plc and Hochschild Mining PLC. Direct peers are Eldorado Gold Corporation, Yamana Gold, IAMGOLD Corporation and Equinox Gold Corp.. Emerging players are GoldMining Inc., Cabral Gold Inc. and G Mining Ventures Corp..
Does Amarillo Gold have an API?
No public API is recorded for Amarillo Gold.
What industry is Amarillo Gold in?
Amarillo Gold's product category is Gold Mining. Its primary akta.pro industry code is IMAKAEAA, Gold Mining, with a secondary code of IMAKAEAI, Precious Metals Exploration & Project Development. Its NAICS code is 212220 and its SIC code is 1040.