RE:RE:so is Magino constuction going on or not?Lifexprt wrote:
As for the globe article can someone post a link?
(November 18, 2022) With the close of its $17-million equity financing, Desjardins Securities analyst John Sclodnick sees Argonaut Gold Inc. ( AR-T unch) fully funded to complete and ramp up its Magino project in northern Ontario, which he expects will lead its stock to re-rate and trade more in line with peers.
no changefully funded to complete and ramp up its Magino project in northern Ontario, which he expects will lead its stock to re-rate and trade more in line with peers.
“Prior to the announcement of the deal, we had already viewed AR’s Magino build as fully financed with its $195-million public equity financing and US$250-million loan facility, as well as its US$52.5-million NSR sale and US$10-million private equity sale, both to Franco-Nevada,” he said. “With this additional $17-million, we have few concerns about AR’s ability to complete the build and now model a remaining cash buffer of US$82-million when Magino starts up in 2Q23 after fully drawing on the credit facility and revolver.”
Resuming coverage with the close of the deal, which involved the issuing of 35.9 million CDE (Canadian development expenses) flow-through shares, Mr. Sclodnick reaffirmed his “buy” recommendation and $1 target for Argonaut shares. The current average is $1.20.
https://www.theglobeandmail.com/investing/markets/inside-the-market/article-fridays-analyst-upgrades-and-downgrades-232/