Q: You recently answered a question on Argonaut Gold. You mentioned that there would be more information to share after its results on Nov 14th. The price has been falling sharply. Are there new reasons for concern? Buy, hold or sell? Thanks.
5i Research Answer:
AR Q3 adjusted EPS came in at $0.01 which beat consensus estimates of nil for the quarter. Total revenue was $104.8M representing a +39.26% year-over-year increase. Management comments remain relatively similar to what we were hearing before with some more details on costs at the Magino mine. Production for 2023 is expected to be on the low end of guidance and AR also expects higher than forecast cost of sales per ounce and higher all-in sustaining costs due to slow ramp up at Magino. Q3 was decent for AR and there is still growth potential paired with optimism from management despite some early pains with the Magino mine.