RE:RE:RE:NewsLifexprt wrote:
Good time to add, this won't stay here for long
To certain extent, you argue against yourself. If the price "won't stay here for long", then a more favourable time to issue shares was -- as you believe --when the price was higher and more stabilized to reflect inherent value (say, between $4 and $5 a share), not at an opportunistic hand out of half-priced cheap shares to The Syndicate.
It was they of course, who knew prefectly well, the share price having been walked down from $3.30 a few months ago, it is "a good time to add".
This ill-timed handout to The Syndicate is especially so when there was no pressing or immediate need of funds, and better times and higher share prices (as you and several analysts say) were ahead; that is, if we are to believe: The Magino project initial capital estimate of between C$480 million and C$510 million , of which approximately 40% is covered by a fixed-bid contract with Ausenco Engineering Canada Inc., is considered fully financed through Argonaut's current cash balance and anticipated cash flow from operations assuming a gold price environment at or above US$1,600 per ounce.
At December 31, 2020 , Argonaut had US$214 million in cash and also has access up to US$125 million through its existing revolving credit facility, which is fully undrawn. https://stockhouse.com/news/press-releases/2021/01/21/argonaut-gold-announces-major-milestone-of-magino-closure-plan-filing