RE:Feeling sad & depressed, any chance this hits $1 next year?RichesToRagz wtoe
Even after averaging down heavily on Argonaut, my average is still above $2.50. I've lost so much money on Argonaut and other stocks, I'm feeling really sad and depressed. The whole gold mining sector is taking a beating, what if gold goes down to $1700, or $1600, or $1500, or lower? How long can this downturn last?
WIth first pour for Magino in March, 2023, only 9 months away, is there any chance this hits $1?
I'd love to hear some opinions on this and just any words of encouragement would be greatly appreciated. I know it's unlikely I'll ever break even on this stock, but even if I could get back half of my money I'd be happy.
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Been there myself buddy several times and once in a very big way so i know how you feel. The problem with me is i lost a lot of money because i was investing in garbage miners with no hope of ever likely going anywhere. Those hard experiences made me learn the differance between junk and quality miners. AR is a quality or a high potential quality miner that has had a tough time because they completely miscalulated the cost of their new mine. I dont know how you can go from $450 million estimated construction for Magino to what is lkely to be around $1 billion. especially when they had fixed costs for part of the construction.
That mess aside they will soon have aprox. $500 Cdn. million in cash between the private placements and financing plus aprox. another $125 million Cdn. over the next year for a total of aprox. $625 million in cash to finish the project.
For comparison Alamos gold a 400 000 ounce producer has a market cap. of aprox. $3.5 billion Cdn. And Yamana a 1 million ounce producer has just been sold for aprox $8.4 billion Cdn. 40% of that is aprox. $3.4 billion Cdn.
And here we have AR a currently 220 000 ounce producer which should be a 400 000 ounce producer in a couple years with a market cap. of aprox. $370 million. AR has had the perfect storm of huge cost overuns for Magino. causing a large private placement at very low prices.Along with a general market correction that has brought the shareprice down this low.
While it will take some time to get things going and this company is one where a person who has a bit of money and buys shares at these levels or in your case averages down somemore and walks away for a few months will have a very good chance of making some serious money here.
As competitors are trading at aprox. 9 or 10 times the current price of AR the company doesnt even have to execute perfectly for the shareprice to be a 5 or 6 bagger here in time.
The risk/reward here is just to good for me to ignore and i will soon be buying as much as i can.
The risk / reward here is just to good for me to ignore. I will be loading up heavily and