Withholding of Material Information It’s interesting how the company funded the drill programs for FC and Magino by diluting Argonaut Gold shareholders using equity and debt raises.
Miraculously, months later, the company has still not released any data pertaining to the programs.
Rumor on the streets says the company isn’t planning on releasing the results pertaining to Magino. Instead, the company is giving away the results to Alamos Gold.
The results, which were paid for by AR shareholders, given the 40% vote, have led the company to decide to withhold material information. On top of that, they have predetermined that they are giving away the results to a company which doesn’t officially own the Magino mine.
Generally, it is illegal to withhold material information as it maintains the fairness and transparency of the company’s operations.
Investors were told in December and then March that results from the programs would be released. Not only is the company withholding material information, but they have given away the data to another company for free and without the consent of Argonaut Gold shareholders (only 40% voted yes to approve), and have lied about the timing of the releases multiple times.
I’m surprised there aren’t any open lawsuits against the company, as withholding material information generally is illegal. I would be extremely upset if I was holding the bag for the company as they give away the data for free which was paid for by Argonaut Gold bag holders.
Has anyone here asked Investor Relations why the company thinks they have the right to withhold material information, as it is generally against the law to do so?
I would love to know why this company thinks they are so special that they get to break the law and do whatever they want.
With all that being said, the company has recently issued themselves millions of RSUs in the 20 and 30 cent range. LOL.......