RE:RE:RE:RE:Magino's AISC $1,272/oz next yearSclarda2 wrote: psych01 wrote: Lifex--trying to replace Argonautgoldperson as AR apoligist in chief, no matter how ultra rational your presentation just not working; rhetorically you inquire as to $70M capex into a black pit Florida Canyon---this you ponder after the travesty Magino, a financial fiasco by apparent amateurs at everything except contriving how best to fleece retail investors. SpinCo starts with a 10/1 rollback, a decision made in the same darkness that everything else was decided in. As to the eclipse, use real appropriate glasses, not rose colored copies. IMO
Exactly the same. Spouting a bunch of nonsense. He seems to think selling Magino for $600 million is a good idea when it cost aprox.$1.5 billion to build. He thinks Magino is low grade at 1.2 grams per tonne but Florida Canyon is the best thing going at .39 grams per tonne. ha ha ha
If Florida Canyon is so great why did Alamos not want it. Because they know that they will make huge protits at Magino while posters like this one wait for their big payday sifting through barren rock in Nevada looking for gold.
I would rather pay attention to what an $8 billion company like Alamos is doing than what some Stockhouse "Expert" has to say.
$600 mill for $1.2 Bill (i think it was not $1.6) but even if it wa $1.6
why would you expect a company like Alamos to pay for previous managements missteps and total fails creazy cost overruns ??????
the mill should have cost 1/2 to build as per their original estimates and all that has been discussed at nauseum.....
now we have guys like you complaining that Alamos didnt pay up for AR screw ups while building the mine as well as the problems they were are having getting the thing profitable ...why would they???
Not saying they didnt get a great deal here but Magino is not worth the multiples some on here are saying it is worth.
yes they get a brand new plant (with issues ) and the property that dosent seem to be producing as per feasability study ( OZ per T)
they paid them what they thought it was worth! and Alamos is going to have to spend quite a bit more to get it right.
They are taking a bit of a chance thinking their guys can get the mining plan for Magino right, any downside is capped only because their prperty is right next to AR.