Gold and Silver Updates


TORONTO, Jan. 19, 2021 /CNW/ – Argonaut Gold Inc. (TSX: AR) (the “Firm”, “Argonaut Gold” or “Argonaut”) is happy to announce report quarterly manufacturing of 56,986 gold equal ounces (“GEOs” or “GEO”)1, representing a 16% improve over the earlier quarter and a 20% improve over the identical interval the earlier 12 months.  Argonaut produced 203,483 GEOs in 2020 and had a money steadiness of roughly $214 million at December 31, 2020.  The desk under particulars fourth quarter and full 12 months 2020 manufacturing outcomes.  All greenback quantities are expressed in United States {dollars}, until specified.

Fourth Quarter and Full 12 months 2020 GEO Manufacturing


Fourth Quarter 2020

Full 12 months 2020

2020 Manufacturing

El Castillo



43,000 – 47,000

San Agustin



63,000 – 67,000

La Colorada



46,000 – 50,000

Florida Canyon2



47,000 – 50,000




200,000 – 215,000

1 As introduced within the third quarter 2020 monetary and working outcomes press launch dated November 4, 2020.

2 Florida Canyon manufacturing throughout Q1 2020 and Q2 2020 was underneath Alio Gold Inc. previous to the closing of the merger between Alio Gold Inc. and Argonaut on July 1, 2020.  2020 GEO manufacturing steerage estimated the mixed full 12 months 2020 manufacturing from the El Castillo, San Agustin, La Colorada and Florida Canyon.

Pete Dougherty, President and CEO acknowledged: “2020 was a spectacular 12 months for Argonaut, as we accomplished a merger, noticed the conclusion of Schedule 2 modification and executed on a financing plan for Magino’s improvement and achieved report quarterly manufacturing in our most up-to-date quarter.  As we glance to 2021, we’re taking a cautious method to steerage when contemplating potential productiveness challenges because of COVID-19 protocols and get in touch with tracing, because the well being and security of our workforce is paramount.  Our focus is to ship money movement from the working mines to gasoline Argonaut’s progress by the development of Magino, as we embark on the transition from a comparatively high-cost junior producer with brief mine life belongings to an intermediate lower-cost producer with lengthy life belongings.”

1 GEOs are primarily based on a conversion ratio of 80:1 silver to gold for 2020 and 85:1 for 2021.  The silver to gold ratio relies on the three-year trailing common silver to gold ratio.  These are the silver to gold ratios all through this press launch.

2021 Manufacturing and Price Steerage

The Firm anticipates it’s going to produce between 210,000 and 250,000 GEOs throughout 2021 at a money price of between $950 and $1,050 per gold ounce bought and an all-in sustaining price (“AISC”) of between $1,250 and $1,350 per gold ounce bought (see “Non-IFRS Measures” part).

2021 GEO Manufacturing and Price Steerage







GEO manufacturing

In 000s

40 – 50

65 – 75

55 – 65

50 – 60

210 – 250

Money prices1

$ per oz Au

1,050 –  1,150

900 – 1,000

700 – 800

1,200 – 1,300

950 – 1,050


$ per oz Au


1,250 – 1,350

1 See “Non-IFRS Measures” part.

2021 Capital Steerage

The Firm plans to take a position between $255 million and $275 million in capital expenditures throughout 2021 with roughly 80% being expansionary capital (primarily for the development of the Magino Gold mine) and 20% being sustaining capital.

2021 Capital Estimate by Mission and Class($M)1


El Castillo





Cerro del




3 – 4

5 – 7

1 – 2

17 – 18

26 – 31


6 – 7

19 – 20

25 – 27

Whole Sustaining

9 – 11

5 – 7

20 – 22

17 – 18

51 – 58


 11 – 12

180 – 190

3 – 4

10 – 11

204 – 217


9 – 11

5 – 7

20 – 22

28 – 30

180 – 190

3 – 4

10 – 11

255 – 275

1 Assumes exchanges charges of MXN:USD of 20:1 and CAD:USD of 1.3:1.

Board Member Retirement

Efficient December 31, 2020, Chris Lattanzi has retired from Argonaut’s board of administrators.  Mr. Lattanzi has been an integral member of Argonaut’s board for the reason that inception of the Firm on the finish of 2009.

Jim Kofman, Chairman of the board, commented: “The invaluable expertise that Chris garnered all through his 60 12 months profession as a mining engineer and delivered to the Argonaut board has been tremendously appreciated.  Fairly merely, the quantity of data that Chris has shared with Argonaut’s board members and administration to assist inform the Firm’s choices has been indispensable and can’t be changed.  On behalf the board, I wish to want Chris the best possible throughout his well-earned retirement.  It has been a pleasure studying from and dealing with him through the years.”

Argonaut Gold Fourth Quarter and 12 months Finish Monetary Outcomes Convention Name and Webcast

The Firm plans to launch its fourth quarter and 12 months finish 2020 working outcomes, monetary statements and the associated administration’s dialogue and evaluation after market shut on February 25, 2021 and can host a convention name and webcast on February 26, 2021 at 9:00 am EST to debate the outcomes.

Fourth Quarter and 12 months Finish Convention Name Data for February 26, 2021:

Toll Free (North America):





Fourth Quarter and 12 months Finish Convention Name Replay:

Toll Free Replay Name (North America):


Worldwide Replay Name:




The convention name replay shall be out there from 12:00 pm EST on February 26, 2021 to 11:59 pm EST March 4, 2021.

Non-IFRS Measures
The Firm has included sure non-IFRS measures together with “Money price per gold ounce bought” and “All-in sustaining price per gold ounce bought” on this press launch to complement its monetary statements that are introduced in accordance with Worldwide Monetary Reporting Requirements (“IFRS”).  Money price per gold ounce bought is the same as manufacturing prices much less silver gross sales divided by gold ounces bought.  All-in sustaining price per gold ounce bought is the same as manufacturing prices much less silver gross sales plus common and administrative, exploration, accretion and different bills and sustaining capital expenditures divided by gold ounces bought.  The Firm believes that these measures present buyers with another view to judge the efficiency of the Firm.  Non-IFRS measures wouldn’t have any standardized which means prescribed underneath IFRS.  Due to this fact they will not be similar to related measures employed by different firms.  The information is meant to supply extra info and shouldn’t be thought-about in isolation or as an alternative choice to measures of efficiency ready in accordance with IFRS. 

Cautionary Word Concerning Ahead-looking Statements
This press launch incorporates sure “forward-looking statements” and “forward-looking info” underneath relevant Canadian securities legal guidelines regarding the enterprise, operations and monetary efficiency and situation of Argonaut Gold Inc. (“Argonaut” or “Argonaut Gold”). Ahead-looking statements and forward-looking info embody, however will not be restricted to statements with respect to the conclusion of mineral reserve estimates; the timing and quantity of estimated future manufacturing; prices of manufacturing; estimated manufacturing and mine lifetime of the varied mineral initiatives of Argonaut; allowing and authorized processes in relation to mining allowing and approval; the advantages of the event potential of the properties of Argonaut; the long run value of gold, copper, and silver; the estimation of mineral reserves and assets; success of exploration actions; and foreign money alternate fee fluctuations. Aside from statements of historic reality referring to Argonaut, sure info contained herein constitutes forward-looking statements. Ahead-looking statements are ceaselessly characterised by phrases comparable to “plan,” “count on,” “undertaking,” “intend,” “consider,” “anticipate”, “estimate” and different related phrases, or statements that sure occasions or situations “might”, “ought to” or “will” happen. Ahead-looking statements are primarily based on the opinions and estimates of administration on the date the statements are made, and are primarily based on a lot of assumptions and topic to quite a lot of dangers and uncertainties and different components that would trigger precise occasions or outcomes to vary materially from these projected within the forward-looking statements. Many of those assumptions are primarily based on components and occasions that aren’t throughout the management of Argonaut and there’s no assurance they’ll show to be right.

Elements that would trigger precise outcomes to fluctuate materially from outcomes anticipated by such forward-looking statements embody variations in ore grade or restoration charges, adjustments in market situations, dangers referring to the provision and timeliness of allowing and governmental approvals; dangers referring to worldwide operations, fluctuating metallic costs and foreign money alternate charges, adjustments in undertaking parameters, the opportunity of undertaking price overruns or unanticipated prices and bills, labour disputes and different dangers of the mining trade, failure of plant, gear or processes to function as anticipated.

These components are mentioned in higher element in Argonaut’s most up-to-date Annual Data Kind and in the newest Administration’s Dialogue and Evaluation filed on SEDAR, which additionally present extra common assumptions in reference to these statements. Argonaut cautions that the foregoing record of vital components is just not exhaustive. Traders and others who base themselves on forward-looking statements ought to rigorously take into account the above components in addition to the uncertainties they characterize and the danger they entail. Argonaut believes that the expectations mirrored in these forward-looking statements are cheap, however no assurance could be provided that these expectations will show to be right and such forward-looking statements included on this press launch shouldn’t be unduly relied upon. These statements converse solely as of the date of this press launch.

Though Argonaut has tried to establish vital components that would trigger precise actions, occasions or outcomes to vary materially from these described in forward-looking statements, there could also be different components that trigger actions, occasions or outcomes to not be anticipated, estimated or supposed. There could be no assurance that forward-looking statements will show to be correct, as precise outcomes and future occasions may differ materially from these anticipated in such statements. Argonaut undertakes no obligation to replace forward-looking statements if circumstances or administration’s estimates or opinions ought to change besides as required by relevant securities legal guidelines. The reader is cautioned to not place undue reliance on forward-looking statements. Statements regarding mineral reserve and useful resource estimates might also be deemed to represent forward-looking statements to the extent they contain estimates of the mineralization that shall be encountered if the property is developed. Comparative market info is as of a date previous to the date of this doc.

Certified Individual, Technical Data and Mineral Properties Studies
Technical info included on this launch was supervised and authorised by Brian Arkell, Argonaut’s Vice President, Exploration and a Certified Individual underneath Nationwide Instrument 43-101 (“NI 43-101”).  For additional info on the Firm’s materials properties, please see the stories as listed under on the Firm’s web site or on

El Castillo

NI 43-101 Technical Report on Sources and Reserves, El Castillo Complicated, Durango, Mexico dated March 27, 2018 (efficient date of March 7, 2018)

La Colorada Mine

NI 43-101 Technical Report on Sources and Reserves, La Colorada Gold/Silver Mine, Hermosillo, Mexico dated March 27, 2018 (efficient date of December 8, 2017)

Florida Canyon
Gold Mine

NI 43-101 Technical Report on Mineral Useful resource and Mineral Reserve Florida Canyon Gold Mine Pershing County, Nevada, USA dated July 8, 2020 (efficient date June 1, 2020)

Magino Gold

Feasibility Examine Technical Report on the Magino Mission, Ontario, Canada dated December 21, 2017 (efficient date November 8, 2017)

Cerro del Gallo Mission

Pre-Feasibility Examine Technical Report on the Cerro del Gallo Mission, Guanajuato, Mexico dated January 31, 2020 (efficient date of October 24, 2019)

About Argonaut Gold

Argonaut Gold is a Canadian gold firm engaged in exploration, mine improvement and manufacturing.  Its main belongings are the El Castillo mine and San Agustin mine, which collectively kind the El Castillo Complicated in Durango, Mexico, the La Colorada mine in Sonora, Mexico and the Florida Canyon mine in Nevada, USA.  The Firm additionally holds the event stage Magino undertaking, the superior exploration stage Cerro del Gallo undertaking and several other different exploration stage initiatives, all of that are positioned in North America.       

For extra info, contact:

Argonaut Gold Inc.
Dan Symons
Vice President, Company Improvement & Investor Relations
Cellphone:  416-915-3107
E mail: This electronic mail handle is being shielded from spambots. You want JavaScript enabled to view it.  


Source link