Value Microcaps Junior Miners

[checkmate28]

AR.T ARGNF Argonaut Gold Still Cheap at $800M MC

Q2 2020 Results, Pre ALIO Merge
$23.4 million of free cash flow amidst two month shutdown of mining, crushing and stacking activities due to COVID-19

AISC down to $1,080 Lowest number in a couple years.

Post Merge

Slide 16- Cash Balance $65M plus the new July equity finance $90M US =$155M This plus H2 CF (50 - $80m) going to push their future development and provide share price catalyst.

H2 2020 Post merge Free Cash Flow Guidance (Includes Alios Florida Canyon Mine) At $1,900 gold, we expect to generate between $49 million and $79 M FCF

The Case For Growth
Longer term AR.T has 3 High Horse Power development projects that can move AR from a marginal cost producer to a low cost intermediate producer at 300 - 500K OPY production.

Slide 14- The 3 dev projects avg sub $700 AISC, a combined $1.5B in NPV at $1900Au, combined 5M oz high grade Reserve and 2 projects with a 15+ year mine life and

The Magino Ontario property, has a 5 million ounce resource in only the upper 300M. Its adjacent to the Island Gold project Slide 17, currently Alamos formerly Richmont's, where they found a High grade and very deep discovery. Drills going deeper now Results = 2020 H2 Catalyst

2020 SP Catalysts
Stacking Cash
Magino production Decision due 2nd half.
Magino drill results and EIS sibmmital
Cerro del Gallo permit decision


https://s22.q4cdn.com/115151820/files/doc_financials/2020/q2/Q2-2020-FINAL1.pdf

Argonaut with the higher gold prices looks to be a great growth story.
If they can execute positively, I think they can move from a cheap, show me the money producer, to a fairly valued mid tier cash machine.

CM28