RE:RE:POG now at $2379 US nozzpack wrote: Current POG means over $100 million CAD in extra cash flows based on 235,000 ounces of production in 2024.
This totally transforms our valuation making our takeover offer way too low.
Just a few months ago, our fair value target was .90.
The TO offer is less than half that.
The transaction will require approval by 66-2/3 per cent of the votes cast by the shareholders of Argonaut at a special meeting of Argonaut shareholders, expected to be held in June, 2024.
At current POG, I will vote against that offer.
If retail, which owns the majority of the stock, votes against the offer, we would be much better on our own .
Remenber, it takes ages for a big lumbering Senior Gold to double..
Exactly. AR managed to raise $1.4 billion to buy the property and build the mine while its shareholders suffered over many years waiting.
Now that we are finished and huge profits are starting to roll in we have to give away the mine for aprox. 40% of what it cost to build.
Instead of owning Magino which will soon produce aprox. 250 thousand ounces of gold per year we will instead own a tiny fraction of Alamos where are share if combined production will be aprox. 50 thousand ounces per year.
Vote no to this b.s offer.