Brief: Argonaut Gold Approves Magino Project Construction, Receives Fixed Bid Pricing Proposal, Announces Us$50 Million Bought Deal Financing Of Senior Unsecured Convertible Debentures And Expansion Of Corporate Revolving Credit Facility To Up To Us$125 Million

Argonaut Gold

14/10/2020 23:32

Oct 14 (Reuters) - Argonaut Gold Inc  AR.TO :
    * ARGONAUT GOLD APPROVES MAGINO PROJECT CONSTRUCTION,
RECEIVES
FIXED BID PRICING PROPOSAL, ANNOUNCES US$50 MILLION BOUGHT DEAL
FINANCING OF SENIOR UNSECURED CONVERTIBLE DEBENTURES AND
EXPANSION OF CORPORATE REVOLVING CREDIT FACILITY TO UP TO US$125
MILLION
    * ARGONAUT GOLD - BOARD HAS APPROVED CONSTRUCTION OF CO'S
100%-OWNED MAGINO GOLD PROJECT IN ONTARIO, CANADA
    * ARGONAUT GOLD INC - ANTICIPATES FINANCIAL SOURCES WILL
PROVIDE
IN EXCESS OF US$400 MILLION THROUGH 2022
    * ARGONAUT GOLD INC - RECEIVED A FIXED BID PRICING PROPOSAL
COVERING ABOUT 50% OF RECENT INITIAL CAPITAL ESTIMATE OF BETWEEN
US$360 MILLION & US$380 MILLION
    * ARGONAUT GOLD INC - CURRENTLY REVIEWING FIXED BID PRICING
PROPOSAL
    * ARGONAUT GOLD INC - ANTICIPATES 2 YEAR CONSTRUCTION PERIOD
FOR
MAGINO GOLD PROJECT COMMENCING IN JAN 2021

Source text for Eikon:  ID:nGNX9JlDnx 
Further company coverage:  AR.TO 

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