RE:RE:RE:Fair value is over $1 dollar Canadian AHAH! Wht a clwn! On December 18, 2023, Argonaut Gold declared in a press release that the results of the infill drilling and the preliminary outcomes of the mill expansion, ranging from 17.5k to 20k tonnes per day, would be included in Technical Reports. These reports were set to be released in March and the third quarter of 2024, with an update on resources and reserves due in December 2024.
However, in March, the company did not publish any results or reports. Instead, they announced that they had completed roughly 27k metres of drilling for the mineral resources to mineral reserves program. They stated that the program was progressing well and was anticipated to be finished on schedule in June 2024. Subsequently, they sold the Magino mine to Alamos Gold and did not publish the updated technical report.
Interestingly, the acquisition occurred in the same month the technical report was supposed to be released. It almost seems as if it was orchestrated to keep the stock price low, preventing a significant increase in the acquisition offer.
Quite intriguing, isn’t it?
Link to the NR: https://s22.q4cdn.com/115151820/files/doc_news/2023/12/18/ar-press-release-magino-update-final.pdf