RE:RE:RE:3rd Q results, Remember to breathScarda, thanks for the post.
I still kept some shares but the impairment charge on Ana Paula is huge and no details were released on why with a higher POG and great looking technical report the company took it down by 66%. I, too, would like to buy more stock lower and see some visibility on Ana Paula. Florida Canyon has P&P of .37grams/ton and a company needs to be as efficient as Argonaut Gold to generate pos cash flow and profits with that deposit. ALO is not (yet) even with a spanking new fleet.
Ana Paula was discovered in 1972 and never built. Why? Why is mgnt cutting its legs off? Impairing it to $37mil gives them a built-in loss on the property in the event of a sale and it is the best property in their portfolio. Timmins bought it for $113mil in 2015 and Alio is no more than a name change from Timmins.
I would buy more ALO if these questions could be made clearer but mgnt does not communicate in details.