Junior attempts a build - Argonaut Gold edition - A RevisitWe discussed Argonaut on these pages sometime in 2023 - Stockhouse's non-existant search function precludes me from finding the original link, because who has time for that?
Bringing newcomers up to speed: Argonaut Gold (AR.to) thought they'd build the Magino gold mine themselves, following a construction decision a few years ago. 600k oz annual production, increasing to 900k over time. Fast forward to 2023/2024, and continuous capital raises to fund the build equated to a share count of over 1billion. LT shareholders excited about the possiblity of $5000 Gold making the wait all worth it, Sort of like we hear here.
Today, released Alamos Gold entered into a "friendly acquisition" of Magino for 40 cents (CAD) per share. The all time high was nearly 11 dollars.
So, to our "only speaks in price per share, and believes any previous ATH per share must account for inflation to determine future price targets" friends out there:
Looking at the history of juniors building alone, resultant dilution to near worthlessness on a per-share basis, does it look like WRN has any capacity to build this solo and produce returns to original shareholders? Or does it look like we need to sell to someone with the cash and overall capacity to build this?