So what are they thinking?Do the math:
Alamos Gold Inc. (“Alamos”) (TSX:AGI; NYSE:AGI) and Argonaut Gold Inc. (“Argonaut”) (TSX:AR) today announced the closing of their previously announced non-brokered private placement, pursuant to which Alamos subscribed (the “Private Placement”) for 174,825,175 common shares of Argonaut (the “Acquired Shares”), representing approximately 13.8% of Argonaut’s total outstanding common shares (the “Common Shares”) after giving effect to the Private Placement. The Acquired Shares were acquired at a price of C$0.286 per share, for total gross proceeds to Argonaut of C$50,000,000
https://stockhouse.com/news/press-releases/2024/04/04/alamos-and-argonaut-close-previously-announced-private-placement
Pursuant to the Arrangement Agreement, Alamos has subscribed for an additional 10,099,027 Common Shares [of Florida Canyon] for an aggregate subscription price of US$10 million, resulting in Alamos holding 19.99% of all the issued and outstanding Common Shares after the close of the private placement.
https://stockhouse.com/news/press-releases/2024/07/15/florida-canyon-gold-inc-to-commence-trading-on-tsx-venture-exchange