RE:RE:RE:RE:RE:Magino's AISC $1,272/oz next yearAlamos didn't buy the low grade uneconomical open pit operation
They bought reserves, tailings management area and completed 10k TPD mill. They could caress about open pit.
Now they will run excess high grade ore from underground at island gold through Magino while saving $140M US on own CapEx by not building a TMF and not expanding the mill. Win for Alamos as ounces will not increase by a large factor.
Probably a win for Argonaut as well because if Magino was to be underperforming for another 2-3 years we would end up with 2 billion shares and mountains of debt.
There was no other way out no matter what this board thinks. GMT and Libra controlling 40% of shares are for this deal taking heavy losses, what makes you think you have a clearer picture of the situation, unless someone from here sits on the board because GMT has their insider on Argonaut's board