February 12, 2025
Argonaut Gold: Tighter labor market and rising energy prices could impact H2 (TSX:AR:CA)

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Falcon

just three months ago, i wrote Argonaut Gold (OTCPK:ARNGF), Given that, further weakness in the stock will provide a buying opportunity. This is because its new Magino mine was nearing completion, and while the mine was a month behind schedule and ~100% over its initial budget, Magino would replace the low-cost company and move mostly to Tier-1. Will happen Jurisdiction Maker. Importantly, the previous management has been replaced with a highly successful leader in the form of Richard Young (ex Teranga). Since then, Argonaut has easily outperformed the Gold Juniors Index (GDXJ) with over 30% excess returns compared to its benchmark, and a solid asset in a tier-1 jurisdiction barely a month away from commercial production. With this, the future is very bright for the company. However, as I’ll detail in this update, some of this has been priced into the stock after its ~130% rally and headwinds remain, resulting in a more mixed outlook in the near term.

Argonaut Gold – Quarterly GEO Production – Company Filing, Author’s Chart

Argonaut Gold – Quarterly Revenue and Average Realized Gold Price – Company Filing, Author’s Chart

Argonaut Gold – Quarterly AISC – Company Filing, Author’s Chart

Brent Crude Prices – StockCharts.com

Argonaut Gold Share Count – Company Filing

ARNGF 3-Year Chart – StockCharts.com

Argonaut Gold – December 2022 Update – Seeking Alpha Premium/Pro

Source: seekingalpha.com

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