RE:RE:Seems like a good time to buythisldu3,
Nine shares traded in Canada for every share of ARMZF traded in the US. There are very few sellers. In Canada, dip buyers have come into the market to buy the .618 retracement off the $3.00 CAD high.
I attribute the decline to the concern that Aura Minerals management will use the profit from the two good mines San Andres and EPP to subsidize Aranzazu which was a money losing operation in the past. We also don't know the terms of the copper offtake agreements or the details on what their solution is to the arsenic problem. IMHO, that is the source of the downward pressure on the stock.
The positives are the closing of the Serrote sale, and the possibility that Sao Francisco may get a second life. That deposit is open at depth, and they have been doing additional drilling there. So the question there is has the pit been mined down to the $1700 USD pit? If it has only been mined to the $1200 USD pit, then there is additional economic gold production there.
We should get a nice rally after the financials. San Andres gold production should be over 20k oz, and this quarter will be the first quarter of full underground high grade production at Pao a Pique.