RE:RE:C-TV Update on construction of second gold mine Toroparugcm has the backing of wheaton. if gcm hypothetically required more cash, they can sell forward more gold to wheaton like they did with aris.
argo should have used stream financing instead of equity financing on that last raise. when the share price is so low, stream financing is better than equity financing. toro is a much bigger 10 mil oz deposit with much bigger ev and irr, so would be more attractive to wheaton.
on alexco, i stay away from silver producers because they hardly have any profit. they appear propped up by potential for silver to rise rather than any profit.
if you are looking for tier 1 jurisdiction to diversify, take a look at sgi. q1 they had a planned mill stoppage, but the upcoming q's they will be mining higher grade. look at the drill results they have. they are like bonanza grade compared to what they have been mining. it is just a matter of time before they reach higher grade. production is expected to increase to 100k oz/yr rate later this year, which is very undervalued when their market cap is $100 mil.
Stratocheif wrote: Glad to see Serafino agreeing with me. He knows in this inflationary situation, the best thing is to keep the cash and not buy back shares. Until Toroparo is producing and there is confidence the debt won't be higher. Ive been arguing to not buy back shares and use the money to reduce debt for a long time now. He's keeping the cash. That's just as good as reducing the debt. The future is never certain and I feel better about GCM now after loosing a boatload on Argonault and Alexco.....fknn craaap. They pump you full of confidence with all thier speeches and reports and then years later it turns out to be a catastrophy