RE:RE:RE:RE:RE:RE:The potential for PROFIT at MaginoThe grade was barely off by maybe 5 - 10% for the first 3 years than planned. But would match up with mine plan over it's extremely long mine life. Not to mention which if drill results hit, of course it's apparently now up to alamos to release them.... could one day include insane high grade like it's neighbor who is now getting us and the rest of the ore body for peanuts. This 5 or 10 % would of more than have been compensated by the ridiculous high run up in gold prices which is why at the time I suggested locking in additional hedges to balance the lower hedges and ride the startup until mill expansion and eventual huge payday the CEO was talking about. Remember multiples of dollars share price coming..... and then sold for peanuts! lol. .Just my opinion.
. This article is a good place to start! I posted a few excerpts from the article below the link. https://www.timminstoday.com/local-news/argonaut-gold-digs-into-its-ramp-up-problems-at-dubreuilville-8412081
Despite the challenges, Young reaffirmed his belief during a year-end earnings call on March 7 that Magino will one day “be one of the largest and lowest cost gold mines in Canada.” The company expects the majority of the issues to be ironed out over the next few months. The mine and mill ramp-up will be complete by the end of the second quarter. They also plan to increase mill throughput by 10 per cent by year’s end.
The slow ramp-up has added to their costs.
The expected sustaining capital for Magino in 2024 ranges between $61 million and $63 million, up from the previously announced figure of $47 million. The money is earmarked for the mine tailings storage area, construction of a truck shop and assay lab, mill upgrades and equipment leases.
As a result, Argonaut is to looking to refinance its debt to give them the breathing room and flexibility to support the mill expansion.
Management said prospective financing groups have toured the site, they’ve received favourable terms sheets, and they expect to close the financing by the end of April.
Just my opinion.