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CEO.CA members discuss high-risk penny stocks which can lose their entire value. Only risk what you can afford to lose.
@ExcelsiorLooks like the press releases for Antero Resources are getting mixed in with $AR Argonaut Gold's room. It may be unavoidable with the same ticker, but just thought it was worth mentioning as the entire prior history in here was for Argonaut. #feedback
@Excelsior$AR$ARNGF Argonaut Gold Announces Three-Year Production Outlook; Provides Updated Mineral Reserves and Resources - February 16, 2017
Three-Year #Production Outlook
"Based on life-of-mine planning at December 31, 2016, the Company anticipates it will achieve production growth on a #Gold Equivalent Ounce (“GEO”) basis as its San Agustin and La Colorada projects ramp up and lower the overall cost profile. The Company’s goal is to achieve annual all-in sustaining costs per gold ounce sold at or below $950."
* Three-Year GEO Production Outlook
2017 115,000 – 130,000 ounces
2018 155 ,000 – 170,000 ounces
2019 170,000 – 185,000 ounces
* San Agustin Construction Progress
“The Company is pleased to report its San Agustin project is currently tracking on schedule and budget with #construction approximately 26% complete and first #gold#production anticipated during the third quarter of 2017. The crusher pad, leach pad and pond construction are well underway and the Company anticipates it will commence laying leach pad liner and begin relocating the west crusher from El Castillo prior to the end of the first quarter.”
@ExcelsiorARGONAUT GOLD is #Halted due to this news about their property #acquisition and related capital raise. Looks like a good fit. #Gold#Production$AR$ARNGF Argonaut Gold Announces Agreement to Acquire Key $FRES.L$FNLPF Fresnillo Mineral Concession Adjacent to the El Castillo Mine
(Marketwired – Feb. 23, 2017) –
Pete Dougherty, President & CEO commented: “We are excited to have entered into an agreement that is beneficial to both parties. We will now be able to mine the remaining mineralization on our side of the concession boundary as we move the pit wall back onto the San Juan Concession. This, coupled with the known mineralization on the San Juan Concession, allows us the opportunity to expand the pit even farther. We have increased our footprint in the area threefold going from approximately 200 hectares to over 620 hectares. We believe this is a very strategic acquisition, as it means El Castillo has the potential to be an important part of our future production.”
@Excelsior@Onlyflaws - When companies announce they are going to do an acquisition , they almost always sell off. In this case it got a bit exaggerated due to the timing where the whole mining sector was selling off across the board, so it likely tripped some sell stops. That's fine as it will exhaust the selling, but it hurts in the short term.
The reason for the selloff is that they are spending money and acquiring debt, but if one leaves it at that and sells, then they miss the point of the whole reason the company is making the acquisition in the first place.
The better question is "Will this acquisition strengthen the company for the long game?" In this case picking up that land from Fresnillo by their producing El Castillo Mine makes all the sense in the world. I almost added more today, but want to see if we get one more day of weakness first.
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@OnlyflawsThanks for your thoughts @excelsior I was just bedazzled for such a big selloff because the acquisition makes a lot of sense in my mind. Oh well, nothing is rational in this market for sure...and that provides good opportunities.
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@Excelsior@Onlyflaws - Yes agreed - there is little rationality, but that is what provides the value perception gaps and opportunity in the first place.
The $AR acquisition from Fresnillo makes total sense for the longer term, and I expected a mild pullback on the announcement. However, I wasn't expecting it to coincide with an overall slump in the miners so that just accelerated it to bedazzling levels (ha!)
If Argonaut sells off any harder, then I'll probably deploy some dry powder, but really want to see how the rest of the week goes..... Cheers!
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@OnlyflawsAdded @ 1.95 Cant see much more downside unless the floor falls off gold.
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@OnlyflawsThats boring @DullesB :) Thats why I bought some Argonaut $AR and Minco $MSV yesterday. Minco is interesting, although China is not so appealing but the deposit is great. They have cash 40m with mkt cap of 55m so I consider it as a good bet in the long term. Probably bought too early, but the ship has to turn at some point. Anyone have any insights on this company? @excelsior for sure. :)
@Excelsior@Onlyflaws - I was also adding Argonaut $AR yesterday and will continue to add to my position if it pulls back further - It is a very under-rated #Gold#Producer and #Developer. I also like that Argonaut really has a lot of torque on both the upside and downside, so it is a really great stock to trade the wild waves up and down.
Yes, I've been looking at $MSV as well, but am pretty stocked up on #Silver miners at present and have a number of other #Developers in that sector. It is more undervalued than many of the other Silver Developers if you compare it to $BCM or $SBR for example, but there are developers / near term producers like $AXU$AUN or $GRG that are more interesting to me at present, and some other with past producing mines that are developing towards bringing those back into production like $BBB$KS or $BHS that are still flying more under the radar that I believe will have bigger moves when they surprise the markets over the next 12-18 months. I do like Minco, and have considered it, and they will do fine, like most of the Silver miners when Silver is in the mid $20's again.
Lastly, the #Explorers will do will if they drill good results, so sometimes if spot prices are getting hit bad in #Gold or #Silver, then #producers and #development stage companies may get wacked, but #Exploration and #ProspectGenerators with exploration work being done on their properties may be a good place to migrate over to. Then again, the good time to buy the small producers and developers is when they are on Clearance Sale. :-) #mbgtrends
@OnlyflawsRamping up production from 115-130koz in 2017 to 180koz by 2019. Good pipeline for production, wouldnt be suprised to see over 200koz production in the not too distant future. If the POG has found bottom, I think Argonaut sp should appreciate very nicely. I just hope they can work to reduce the AISC (its not bad but..) for better margins. Lets see if its a sell the news day. :)
@OnlyflawsThis sounds great: "Our goal as an organization is to rise to the point of 300,000 to 500,000 ounces per year production at all-in sustaining costs of less than $950 per ounce. In a $1,200 environment that will net $75 million a year of free cash flow to be deployed to rebuild this business and return back to our shareholders." Really solid growth and free cash flow projection.
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@OnlyflawsMagino is key here, but the management seems confident that it will get green light.