The Company reports quarterly production of 58,777 gold equivalent ounces2 ('GEO' or 'GEOs'), cash flow from operating activities before changes in non-cash operating working capital and other items of
Third Quarter 2021 and Recent Company Highlights
Corporate
Generated
Increased net income and adjusted net income 12% and 43%, respectively, compared to the third quarter of 2020.
Acquired key mineral concessions surrounding the
Strengthened the management team in
On
The proceeds will be used to fund Argonaut's portion of eligible exploration expenditures for its 50/50 joint venture with
Social Responsibility
Construction of water wells in communities near the
Repair of roads and the maintenance of local sports stadiums in the communities near the
Participated in a food drive initiative at the Tri-County Fair in the community near the
Third quarter production of 28,872 GEOs, an increase of 8% compared to the third quarter of 2020.
Third quarter production of 15,802 GEOs, an increase of 44% compared to the third quarter of 2020.
Reduction in cash cost per gold ounce sold of 24% compared to the third quarter of 2020.
Continued to discover high-grade gold mineralization below the El Creston pit, including 4.6 metres at 51.9 g/t Au and 28.5 g/t Ag.
Third quarter production of 14,103 GEOs, an increase of 25% compared to the third quarter of 2020.
Reduction in cash cost per gold ounce sold of 16% compared to the third quarter of 2020.
Magino
Construction
All internal coffer dams are completed.
Plant site construction is underway.
Construction of the Tailings Management Facility ('TMF') has commenced.
Commenced and completed some sections of concrete pouring, forms, and rebar.
Completed final section of pre-shear drilling in open pit, which allows for TMF material to be accessed and sourced.
Completed TMF access roads.
Completed detailed backfill for leach tanks.
Completed main haul road section.
Completed installation of 21 ground water monitoring wells.
Completed winterizing of crushing plant.
Continued reverse circulation (RC) ore control drilling.
Cautionary Note Regarding Forward-looking Statements
This press release contains certain 'forward-looking statements' and 'forward-looking information' under applicable Canadian securities laws concerning the business, operations and financial performance and condition of
Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include variations in ore grade or recovery rates, changes in market conditions, risks relating to the availability and timeliness of permitting and governmental approvals; risks relating to international operations, fluctuating metal prices and currency exchange rates, changes in project parameters, the possibility of project cost overruns or unanticipated costs and expenses, labour disputes and other risks of the mining industry, failure of plant, equipment or processes to operate as anticipated.
These factors are discussed in greater detail in Argonaut's most recent Annual Information Form and in the most recent Management's Discussion and Analysis filed on SEDAR, which also provide additional general assumptions in connection with these statements. Argonaut cautions that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on forward-looking statements should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. Argonaut believes that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release.
Although Argonaut has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Argonaut undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements. Statements concerning mineral reserve and resource estimates may also be deemed to constitute forward-looking statements to the extent they involve estimates of the mineralization that will be encountered if the property is developed. Comparative market information is as of a date prior to the date of this document.
About
Contact:
Tel: 416-915-3107
Email: dan.symons@argonautgold.com
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