Only good news...... Nice little nasty suprise for s/h (for which i'm glad i am not btw lol) today, i guess the only other suprise was this news not being released & buried on the "dreaded Friday" rather than today. I guess mgmt was thinking of at leats being somewhat considerate of s/h. Somewhat lol. If some folks think this is good news, well more power to them lol, i've got some nice oceanside property in Arizona i'd like to sell them, so give me a hollar is you're interested lol. This only "GOOD" news If you're NOT a current holder of equity lol. But great news if you're looking to enter this investment & gamble a bit hoping gold prices move up.
This "good" news, though it moves the project ahead, the incoming dilution pretty much kills any potential upside in the stock & will keep this as a "dead" investment for quite some time until Argonaut find a willing buyer. There's absultely NO WAY they will develope this themsleves, as it's prtetty obvious they have niether the skills or the funds to do so. With this recently development, i;m now reducing my possible "take out" offer for Argonault from about $3 to around $2 MAX, dependiing how bad the dilution will be. But i'm guessing it will be pretty bad (from my pov), or "good" lol depending how some might see it.
My advice, sell Argo and take your money & run. Invest it into something more "viable" & profitable for when gold actually moves. But then again, folks should have done that at the first signs of problems & lack of transparency sometime last year.
GLTA