RE:Magino Mine will be epic Great deal IMO. About a 20% dilution, but this $110M should fast track Magino drilling and development at which point they can get debt financing to finish the build out.
I remember when Richmont Mines was just a midiocre company. Then they drilled Island Gold deeper and hit the motherload with huge grades. The stock RIC when up multiple bags then Alamos took them out. Maginos resource is in the top 300 meters. Get those drills down lower and lets see what we have.
I figure they will have about $90Million in the bank by end of year from operations.
Wondering what they can do with that.
Together Magino and Cerro Del Gallo offer 7+Million oz resource with combined economics of sub $700 AISC with a 15+ year mine life for a combined $960M in NPV at much lower gold prices.
If POG heads past $2000, its possible AR could spend their cash flow to develope Cerro Del Gallo and Magino at the same time and get a debt loan off current operations to keep things moving.
Another option is to pick up another property for the future and build out one at a time.