Wednesday, March 18, 2015 1:28:11 PM
AR.TO - second chance to buy at same low price..
..Bought some more yesterday betting on big double bottom and up 9% today. Feeling like a genius now - why can't all my investments work out like that?
Just did my calculation below and going to buy more!!
Second chance at a double here depending on which way gold goes after Fed announcement today. Euro Gold still in a new Bull Market and above 50 dma. $1140-$1150 holding on $USD gold is key here though.
Argonaut is a heap leacher and not going bankrupt in 2015 so good buy here IMO. A couple notes from latest FS and Market Cap as of today:
$CAD 236M MC or $USD 184M.
$USD 122M of WC which includes $USD 45M of cash and $USD 3M of ST Debt. $USD 7M LT debt on top of that.
Using WC - EV to strategic acquirer in buyout situation is only $USD 69M! (184 - 122 + 7)
EV from public markets perspective is $USD 146M (184-45+7)
Cheap from public markets perspective and buyout candidate for larger mid-tier from strategic perspective at these levels.
Potential bounce off of double bottom today per below
..Bought some more yesterday betting on big double bottom and up 9% today. Feeling like a genius now - why can't all my investments work out like that?
Just did my calculation below and going to buy more!!
Second chance at a double here depending on which way gold goes after Fed announcement today. Euro Gold still in a new Bull Market and above 50 dma. $1140-$1150 holding on $USD gold is key here though.
Argonaut is a heap leacher and not going bankrupt in 2015 so good buy here IMO. A couple notes from latest FS and Market Cap as of today:
$CAD 236M MC or $USD 184M.
$USD 122M of WC which includes $USD 45M of cash and $USD 3M of ST Debt. $USD 7M LT debt on top of that.
Using WC - EV to strategic acquirer in buyout situation is only $USD 69M! (184 - 122 + 7)
EV from public markets perspective is $USD 146M (184-45+7)
Cheap from public markets perspective and buyout candidate for larger mid-tier from strategic perspective at these levels.
Potential bounce off of double bottom today per below
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