I can understand some disappointment from longs over the current buyout valuation.
Not what I waited 5+ years for either.
On the other hand.
How much more dilution would prodigy need to endure before seeing magino reach production? Would this be more profitable to stay a PDG shareholder than what's on the table from AR?
As a former Pediment exploration holder when Argonaut took over 2 years ago, there were similar comments regarding take out price, loss of blue sky multiples and ultimately not being happy with the deal.
Under argonaut control, Pediment assets San Antonio and la Colarada have seen growth of in ground resources, SA moving towards production and LC put into production this year.
Ar has gone from 4 to 11 per share (around 175%), a strong cash position and production profile that's profitable and growing.
Just like 2 years ago i find myself asking - Does argonaut have a skilled management team and access to financial resources that can develop the magino deposit (PEZ assets) to maximize shareholder value...
My answer is yes
The short term may be muted but Argonauts growth to a 500,000oz/yr should provide catalyst for future share appreciation.
While Its sad that the kodiak/prodigy era will be over. It's an interesting opportunity moving forward and a better deal than a all cash offer for same value.
When the time comes to vote on the deal - I will have no problem trading my PDG for more AR
Just my thoughts on the deal - best to conduct full dd on AR if new to them, might like what you find
GLTA
Jw