RE:RE:RE:Thanks Rockport1highper, what they got for the NSR was a dictate of the market. Very competitive market for NSRs over the past few years as that is the only space in mining that saw significant fund flows. Why they sold was becasue of the liquidity issues.
As for the debt of $188M, it pales in comparison to the approx. $1 BILLION they spent building Magino. They funded most of that with equity. When cost overuns hit, valuation got smacked and the subsequent raises diluted the bajeebees out of it.
If Magino cost $1 Billion, what to you think TC up in the glacial mountains will cost???????
highper wrote: argonaut at first glance appears to have been under severe financial distressnear the point when they sold their nsr..They had $188 million in debt and they were having teething difficulties with magino. I suspect the price they got for their nsr was dictated by their need for cash. I'm not going in to the weeds to flesh out my opinion cause the argonaut story is a waste of my time...