Argonaut Gold Inc T.AR

more dilution by Nov 30?

[SHEEPBAAA1]

On September 29, 2023, the Company obtained a waiver on certain financial covenants on its $250 million financing package (collectively referred to as the "Loan Facilities") for the ongoing development and construction of the Magino mine. A subsequent waiver was obtained on October 31, 2023 which now requires the Company to maintain a minimum cash balance of $10 million at all times until November 30, 2023 and additional funding to be raised by the same date. It was anticipated the Company would not be in compliance with certain financial covenants and accordingly obtained the waivers to prevent a default event which could trigger the Loan Facilities becoming immediately due and payable.

[YesSetForLife]

More dilution they will sell more shares more outstanding shares in the billion soon

[SHEEPBAAA1]

i would think in 8 working days this stock will fall even further cause the dilution could be announced before November 30. Nov 30 is just the deadline. this really sounds desperate. how long can it go. i would think the low 30s by end of this week. Remember ALWAYS LISTEN TO THE SHEEP. I told you guys to get out and i was right. The Sheep

[psych01]

Sheep---read the paragraphs again.  the more I read the more I think the new 1% NSR deal on Nov. 2 relates to the requirement of the money raise.  Whoever wrote it should have said---'in order to comply with the money raise requirement blah blah, AR has done an additional 1% NSR with FN'.  Could easily be the case;  if the money raise is still outstanding, which could

[SHEEPBAAA1]

yes you could be right psych01 but the wording is atrocious. they dont get to the point. if i am right and the way the stock is trading it certainly looks like i am right on this. The Sheep

[bobofet]

I think at these levels from now on whenever the Sheep posts  I think it is  a sign.... BUY BUY BUY     I think the Sheep realizes now where we are..                                                               

[Funex4t]

The way the discussion is going, I can't imagine anyone wanting to buy the stock. So if they could issue more shares, who would buy them?

[YesSetForLife]

Private placement of 200 million shares at $0.25 would bring 50 million but the share price would be destroyed 

[Funex4t]

So, who would they get to buy 200 million?  This board continues to push down hard on the company. Have any of you been thru the process of actually building and getting a mine up and running. It takes a massive effort and lots of cash.  And the share price is always hit hard if things don't go to plan. Covid put this company into more debt than planned. Not bad management

[YesSetForLife]

Cormark Securities Inc could be a buyer