RE:Alamos’s Q1’24 MD&A: Financing Plan for Optimization I was just thinking about this today, and after a second review of Argonaut Gold’s Q4’23 MD&A and an email from investor relations.
The company said they raised C$5 million in May 2023 from CEE flow-through financing, and by the end of December 2023, they said that the CEE proceeds had been fully spent.
The email from investor relations states that a portion of the funds, C$5 million, will be used to test deeper underground high-grade targets similar to our neighbor.
I had a conversation with IR about the company being in possession of results from a ‘juicy drill hole’.
In May 2023, the company raised C$5 million from CEE flow-through financing. IR told investors that C$5 million would be used to test deeper underground high-grade targets similar to our neighbors. By the end of 2023, the company stated they had spent the entire C$5 million. During the first quarter of 2024, I spoke with IR and she told me about the company being in possession of results from a ‘juicy drill hole’.
Let me remind you that the company has also stated the Magino drill program commenced on August 1, 2023.
It’s interesting how this drill program apparently commenced 9 months ago on August 1, 2023. In May of 2023, they raised C$5 million from CEE flow through financing. They spent the C$5 million in 2023 to test deeper underground high-grade targets similar to AGI, then during the first quarter of 2024, IR gloated about the company being in possession of results from a ‘juicy drill hole’, and then almost 5 months into 2024, they still haven’t released any results.
