RE:RE:Level 2 On The Opening
Rogg47 wrote:
I honestly have some doubts... All longs know pretty well ANX trading pattern, "sell on the news": volume and SP are up week(s) before a significant PR. So could we have another delay, ANX is pretty good at that, or could FS isn't that good and that explained the dumping lately?! Time will tell but I don't buy that it's only tax loss season.
$0.60 geeeezzzz soooo ridiculous and pathetic, what a shame......
I agree with you that the recent drop from 0,75$ to 0,61$ has little to do with tax loss selling. I think that your fears of an underwhelming FS will probably prove to be right.
We had a PEA with an after-tax value of 547M$ for around 2M ounces for the whole project. But Kevin has been clear that the FS will only focus on the open pit part of the project (1M ounces). So the NPV for the FS should be quite lower (maybe half ?). In order to raise the initial capital for the project, Kevin expects to be able to get 60% in debt. The shares needed for the remaining 40% will surely leave the company with well over 200M shares. That leaves us with a FS that gives us a value of just a little over 1,00$ per share.
So, we might be back to waiting for better numbers from Argyle in 2022 and a revised FS that includes the in-ground ounces. I have a feeling that the addition of Rick Howes has something to do with the necessity to work on that part of the FS.