Alamos’s Q1’24 MD&A: Financing Plan for Optimization Interestingly, Alamos’s Q1’24 MD&A reveals their plan to finance the optimization of the Magino mill.
Argonaut Gold’s Q4’23 MD&A indicates their intention to allocate US$10 million towards optimization, with a projected completion date by the end of 2024.
Argonaut Gold announced in an NR that infill drill results would be integrated into Technical Reports, with the release of these reports scheduled for March and the third quarter of 2024, and an update on resources and reserves in December 2024.
Argonaut Gold asserted that the optimization would be finalized in 2024, and the preliminary findings of the mill expansion would be incorporated into the Technical reports of March 2024.
Argonaut Gold’s Q4’23 MD&A confirms that the funds from the CDEs and CEEs have been entirely utilized.
Argonaut Gold has invested a substantial amount of shareholder capital in funding these exploration programs and studies. Interestingly, Alamos Gold is now intending to allocate additional capital to the optimization, which Argonaut Gold had previously stated would be completed this year.
Argonaut has yet to release any drill results from Magino, including Florida Canyon, which they had projected to be finished in early 2024.
It’s puzzling that we’re nearly halfway through the year, Argonaut Gold has repeatedly boasted about this optimization in their NRs, and despite allocating US$10 million towards the construction of the optimization and raising a significant amount of funding, Alamos’s Q1’24 MD&A now suggests that Alamos will be financing the optimization.
This gives the impression that the company never intended to complete the optimization or share the results with Argonaut Gold shareholders from Magino or FC.
We’re almost halfway through the year and these individuals have yet to present ANYTHING.
