Argonaut Gold Inc T.AR

I sure dodged the bullet here

[miningman]

Was seriously considering a substantial  initial purchase here a few months ago  but somehow  never did get around  to pulling the trigger.  Its just  another reminder how   volatile the junior  mining  business can  be.   Management  definitely  knew  how the economics were  shaping up  but  chose   not to inform the public.    I   am  old enough to remember when  Excho  Bay  took a significant  bath on this  property   30  years ago.    Theres gotta be moral  here somewhere.

[bufordpusser]

maybe my table math is not like baystreet but to recover 800 million one would have to mine 1.6 million ounces if your profit on each ounce mined was $500.

[geosan0]

Your table math is off because you are conflating two different concepts: cost recovery and profit.  If they were to mine 1.6 million ounces at a $500 profit per ounce then they would not only recover their initial investment of $800 million but would also have a profit of $800 million.  If you are just looking to recover your capital cost then no profit is necessary, all you have to do

[Phatboy2]

Maybe old enough that the ol' memory isn't as good as it once was. Echo Bay never mined in this area or at least not to any extent to warrant a mention. Appears they mined in the NWT and a bit in the u.s.

[miningman]

In April 1988 Echo Bay Mines acquired significant interests in the Muscocho mining group of companies—consisting of Muscocho Explorations Ltd., Flanagan Mc Adam Resources Inc., and McNellan Resources Inc. The deal included the purchase by Echo Bay of C$26.5 million worth of newly issued common shares and C$23.5 million in convertible bonds. Echo Bay agreed not to increase its interests in the

[Phatboy2]

I stand corrected. Echo Bay was one of Canada's most successful gold/silver miners, so if they wanted a chunk of Magino that's an endorsement of the deposit. The original Magino owners became Golden Goose resources who eventually merged with another company to become Prodigy Gold. Argonaut eventually made an all-share offer to Prodigy for the magino deposit when AR was trading close to $10