FWIW:Almaden Minerals (NYSE: AAU)(TSX: AMM), just bought an entire mill for $6.5 million. Not only is that incredibly cheap, but because of the bear market, it was able to negotiate extremely favorable terms. It only has to make a $500,000 payment this year and a $250,000 payment in 2016 to keep the option open.
Owning its own mill reduced the expected capex of its Ixtaca project in the “ramp-up” scenario by $70 million. This is a company, mind you, that has a market cap of just $41 million.
That means Almaden took on a $6.5 million option to improve the economics of its flagship product by $70 million — almost twice what the entire company is trading for.
By Jason Simpkins | Friday, December 18, 2015
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