Argonaut Gold Inc ARNGF

Primary Symbol: T.AR Alternate Symbol(s): T.AR.DB.U

Metals & Mining Gold

Argonaut Gold Inc. is a gold producer with a portfolio of operations in North America. The Company’s operating mines include Florida Canyon, Magino, La Colorada and San Agustin. The Florida Canyon Gold Mine area is situated in northwestern Nevada within the Basin and Range physiographic province. The Magino mine property is a past producing underground gold mine located 40 kilometers (km) northeast of Wawa, Ontario, approximately 14 kilometers southeast of the town of Dubreuilville. The property consists of seven patented mining claims, four leased mining claims and 69 unpatented mining claims totaling 2,204.495 hectares. The past producing La Colorada gold-silver mine property is located approximately 40 km southeast of Hermosillo, Sonora State, Mexico. The San Agustin property consists of four mineral claims totaling 1,065 ha and is located in the northern San Lucas de Ocampo Mining District.

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Argonaut Gold Inc > 23 cents support is in the cards

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Comment by Sclarda2on Apr 27, 2024 9:43pm

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Post# 36011306

RE:RE:RE:23 cents support is in the cards

ARGONAUTGOLD wrote:
Excessive CapEx costs occurred due to the construction of Magino, plans to optimize and expand Magino, and plans to optimize Florida Canyon. Their gross and net profit margins in 2023 were over 10%. Expansion and optimizations should result in an increase in both gross and net profit margins. The company is also hiring contractors to handle operations at Magino, which is causing high OpEx. When the company finds employees who can replace the contractors, OpEx at Magino should reduce, hopefully relatively close to the cost per tonne insinuated in the Magino tech report. CapEx has been digging into their working capital, but I think either 2024 or 2025 will be the last year of excessive CapEx as the operations should be optimized and the expansion should be built by the end of 2025. The company requires additional funds to support cash flows for the second half of 2024. The refinancing will relieve a bit of pressure from the balance sheet, and the market price should run up. The CEO, who is responsible for acquiring the new loan, purchased 5.5 million common shares on the open market with an average price of 50 cents, valued at $2.5 million. Something tells me the man is going to get the job done.

"Something tells me the man is going to get the job done."

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