RE:RE:RE:RE:Magino's AISC $1,272/oz next yearFunex4t wrote: Surely, if $1272 is true, then the Magino management report stating a much higher AISC (which is believed to have crashed the stock price) could be seen as deliberately misleading investors, which would allow possible and serious repercussions.
This whole situation, as I stated before, is just ridiculous and showing up the junior mining sector as a casino!!
Yes it may be time for some AR shareholders to higher a law firm to take a look at all this. Maybe a nice class action lawsuit against AR and its management should be considered.
Hard to believe they didnt know including Capex in AISC which i have not heard of before would tank the AR shareprice. And this deal with Alamos had to be in the works for along time before the $2100 AISC news release. Dont they have a fiducary duty to work in the interests of shareholders?
I would be the first one to chip in a few buck to get a law firm experienced in these kinds of deals to take a look at it. It just smells very bad that AR shareholders have been suffering for years and then just as Magino is getting up to speed they give away a mine that including the cost of buying the property etc. is likely around $1.5 billion Cdn. for aprox. $550 million. A mine that when Alamos or whomever gets it up to 250k per year production for little more cost will at todays gold prices produce aprox. $300 million Cdn. per year in annual profits plus a lot of savings in Synergies for Alamos. Which will give them a nice 60% plus return on investmenf for Magino while ARs long suffering shareholders get peanuts in return.
What happened to the 3 financing offers? Even a large private placement at 35 cents and a loan at high interest rates would be a lot better than this garbage offer as once Magino gets done this years capex only 9 months away next years profits would belong to AR and then they could do the expansion.
Instead they gave away the Prize asset and kept the garbage low grade Florida Canyon and clapped out Mexican junk.
As they say goodmanagement is one of the most important things to look at when investing in stocks.
AR management has been useless for many years and here we have the result.