ARNGF - Argonaut Gold: Digging Into The FY2020 Reserve Update
- Argonaut Gold released its updated Reserves & Resource statement this week, finishing the year with significant growth in reserves from the Florida Canyon acquisition.
- Excluding Ana Paula, which remains under conditional sale, the company's mineral reserve base stands at 5.83 million ounces of gold.
- Based on a market cap of ~$528 million, Argonaut is being valued at just $90.51/oz, which is a valuation per ounce that is typically reserved for developers, not producers.
- I continue to see Argonaut Gold as a solid organic growth play in the mid-tier space, and I would expect any dips below US$1.63 to provide low-risk buying opportunities.
For further details see:
Argonaut Gold: Digging Into The FY2020 Reserve Update