Issuance of additional RSUs, I see. Tsk tsk… Further dilution; sad but predictable given the past management that destroyed the value of Argonaut Gold.
I’m not surprised to witness a new all-time low as the company lacks the funds to construct the leach pad, which means production could likely halt.
The mine already operates at a loss, and the leach pad is estimated to cost around $70 million. Why spend so much to lose money?
As I previously mentioned, this is a 30-cent stock. I wouldn’t be disappointed to see the stock price diminish to a cent considering management’s previous actions.
Do they really deserve to earn millions by selling RSUs, further diluting their shareholders?
The stock hits an all-time low, and the company won’t stop giving away shareholders’ capital.
The worst part is they’re taking the cash and pocketing it, like taking candy from a baby.
They essentially gave away the Mexican operations for free. And what happened to the other properties in Ontario? I think one was called Hardrock or something similar. Those seem to have disappeared. It’s interesting but slightly disturbing.