Argonaut Gold posts record gold production in Q1 2021

Share this article

Argonaut Gold Inc. [AR-TSX; ARNGF-OTC] reported financial and operating results for the first quarter ended March 31, 2021. The company reports record quarterly production of 59,704 gold equivalent ounces, record quarterly revenue of $105.3-million, cash flow from operating activities before changes in operating working capital of $27.7-million and net income of $27.0-million or earnings per share of nine cents. All dollar amounts are expressed in US dollars.

Pete Dougherty, president and CEO, stated: “It was our second consecutive quarter of record quarterly production and revenue. We demonstrated strong cash flow during the first quarter, which underpins our strategy to harvest cash from the existing operations, replace depleted ounces and invest in our growth asset portfolio to transform Argonaut from a high-cost, junior producer with short mine lives to a lower-cost intermediate producer with long mine lives. With the cash we are generating, the recent announcement of an increase of mineral reserves by 43% and measured and indicated mineral resources by 26% year over year and the early progress of the Magino construction project, we are delivering on all three phases.”


Share this article

Leave a Reply

Your email address will not be published. Required fields are marked *

Don't miss the

NEWSLETTER

Exclusive editorial

Breaking News

Quality Company Coverage

Expert Writers

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

Resource World Magazine will use the information you provide on this form to be in touch with you and to provide updates and marketing.