RE:RE:RE:RE:RE:Takeover of Florida Canyon Alamos could use the US$107M of FCF they generated in Q2 and buy the remainder of FCGV (80.01%) for effectively the same value they paid for their last subscription (US$0.99/share), which also happens to be roughly equivalent to the NAV of Florida Canyon in the latest technical report. They could then just print money by hedging the production through LOM of Florida Canyon. It sure would be nice to be made whole, or closer to whole, from the value destruction that Argonaut Gold, and then subsequently Florida Canyon Gold managed for their shareholders. Clearly there was never any intention for the Spinco to ever be an operating company, given the immediacy of the dispositions and the valuations that were attributed to the assets. I appreciate that this is the Integra board, but clearly the market isn't constructive on this merger, and ITR shareholders are suffering as well, quite probably because there was a meaningful takeover premium built into the SP, as Integra has a compelling portfolio of assets and ounces. The market sees that as a much less likely outcome now. Anyway, it sure would be nice, and seemingful constructive for all parties, for Alamos to be the white knight for former AR and existing FCGV shareholders, and ITR shareholders can get their takeover premium back, and restore their premerger announcement SP. Any thoughts?
P.S. I'd be plenty content taking shares of AGI in lieu of cash as Alamos seems to be an excellent operator with plenty of runway. Perhaps an offer is still in the offing, and with the AGI SP likely moving higher given their Q2 report, such an opportunity to acquire FCGV would be an even more astute move by the Alamos team. Anyway, GLTA. Hopefully we all emerge winners when the dust settles.