Florida Canyon Gold Inc V.FCGV

Mexican business unit sale. A few Questions

[ARNGFInvestor]

Florida Canyon Gold Inc. stated objective is to leverage the value of its portfolio of assets and manage risk.  What were the risk?  What were the potential cost of these risk? 

Heliostar will pay cash consideration of US$5 million to the Corporation

Corporation is entitled to cash generated by the Mexican Business Unit prior to July 11, 2024.  How much cash was generated prior to July 11, 20024?   FYI in Q1/2024 they sold 12,122 ounces of gold.

Cash of US$5 million generated from operating cash flow after July 16, 2024.

So are we looking at $15M - $20M for the deal?    Did Florida Canyon Gold Inc. new management team dump assets that were high risk and would be a financial drain on the new company? 

Hopefully we will soon get some answers. 

[rvirdi6394]

I don't think we would ever get any answers from these guys, sad, very sad!!

[okgonow]

they just sold 3 mines the equipment alone at the operating mine (take a look at the pictures on their website) would far be in excess o0f 5 million .... i bet the trucks alone are worth 5 mill nevermind the plant ...AR spent 1 billion to build a plant!!! even a used plant the size i saw would cost 200?300Mill  check for yourself

[ARNGFInvestor]

These mines are at the end of there life.  What does it cost to close a mine?  What is used mining equipment worth in Mexico?  It's about the future value not what was spent in the past.  I agree that it looks like Florida Canyon Gold management gave away these assets.  But I will wait until I have more data before I make my decision.      From the

[MikeySwoosh]

I think all of us that are left holding the bag as AR shareholders are very underwhelmed by what the Mexican assets fetched, and I can't help but feel that they were too hasty in disposing of them, especially in light of the POG. I don't imagine there's much salvagable value for the mining infrastructure (leach pads, mills, etc) and the trucks, along with any other heavy duty equipment

[MikeySwoosh]

Now that FCGV has been formally valued at C$95M via the Integra Resources offer, it's time for Alamos to step up and purchase the remaining 80.01% of the float, as per my previous post, but they can now pay a price significantly less than US$.99/share for it, and be the white knight. Gold futures if Alamos were to try to lock in some cash flow: https://www.cmegroup.com/markets/metals