RE:Magino's AISC $1,272/oz next yearWhat on earth are you talking about??
Those aren't figures for Magino but for entire production of Alamos. Adding Magino's production is actually increasing overall AISC at Alamos by $150 per ounce, that means Magino will produce at $1800-$2000 in 2024 and those numbers will improve as synergies are realized and higher grade ore from island gold underground shaft is being processed.
There was no way out of this as obviously feasibility study was flawed with grades lower than expected, mill was not performing as planned, hedges were killing any profit potential while operation was encountering various issues sucking up liquidity from other mines.
Wait until Q1 report to see Young made the correct choice here and stop with this nonsense as Alamos ended up paying $516 US for Magino including debt, debentures and hedges leaving you without threat of bankrupcy, Alamos shares and potential with SpinCo.
Lastly SpinCo will revalue once trading as nominal valuation of $70-80M is laughable with current NAV at $1,900 gold at $170M. Ask yourselves why they are dumping $70M of CapEx this year into FC.