RE:SOLDWrong move Argo.
Magino is gone but so are hedges and debt.
In fact you are getting 1 for 1 shares of new company which holds Florida Canyon and mexican mines debt free with a $10 million injection from Alamos. NAV of this spinco is $170M but on paper it's $60M. Richard can easily triple and more that valuation especially given they referred to it as cornerstone asset. Not a bad deal given Alamos paid much more per share than the $.34 cents given debt and hedges. Spinco is producing 100k oz with AISC much lower than today's gold prices, effectively being cashflow positive. That must be worth more than $60M, no?