I expect a take over offer somewhere in the .84$ rangeAny company with the means to make an offer to Argonaut is going to have to do it fairly quickly as these low prices are not going to stay here too much longer..
Majors often make the mistake of waiting too long to take over a junior..Look at Kinross and GBR...Kinross paid something like 29$ /share when they could have bought it for 10$/share just a few months prior ..
When it comes to Argonaut , a buyer could offer 700 million$ cdn ( .84$/share ) and they will get a high grade billion dollar already paid for gold project with Magino but not only that they will get another 200,000-250,000 ounces production from the other mills for FREE! So a major or an intermediate gold company can acquire 300,000-350,000 ounces of gold production for a song and dance!
I think if someone makes an offer to AR of 700 million$ it will be rejected and will cause a bidding war...
If the price of gold sky-rockets to new highs in early 2023, Ar will be trading at close to 2$/share before long...
This is all just my opinion, but I see a lot of action in this stock coming very soon...Gold may have left the train already, maybe one more brief pull-back but the gold stocks are going to go ballistic...Those 4 million shorts better cover , if they haven't already...
Gold could pull back here, but what if it doesn't ? Maybe it's time to just hold on to your gold stocks and see what happens...