ARNGF - Argonaut Gold: Another Record Quarter For This Organic Growth Story
- Argonaut Gold released its Q2 results last week, reporting quarterly production of ~63,700 gold-equivalent ounces, a massive increase both year-over-year and on a two-year basis.
- This translated to record revenue, and has put Argonaut in a position to beat its FY2021 operating guidance, which would be a welcome surprise from a large miss in FY2019.
- With Magino production on schedule and better costs expected in FY2022 at Florida Canyon, the story continues to improve, bolstered further by high-grade hits at La Colorada.
- Given Argonaut's improving cost profile in its current portfolio, and enviable organic growth profile, I would view any dips below US$1.95 as low-risk buying opportunities.
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Argonaut Gold: Another Record Quarter For This Organic Growth Story