I wrote up a blog on ARDs prospects last night following buying in yesterday (and a little more this morning).
I must admit at first glance the Bullant Goldmine sale looked a little confusing, but once broken down it looks like a very good deal for shareholders (much better than the original takeover offer).
------------------------------------------------- Argent Minerals Limited (ASX: ARD) is a company I have been keeping tabs on for sometime. In July this year Argent purchased the Bullant Goldmine from Barrick Gold Corp. While it seemed like a reasonable price paid, it turned me away from Argent as I had been considering them a company predominantly exposed to Silver. However after an unattractive takeover offer from US Nickel (USN) Argent has since agreed to sell the Bullant Goldmine in a deal that looks quite good for ARD shareholders. This will also put Argent back in the position of a company heavily exposed to the price of Silver and they even say as much themselves in one of their recent announcements:
"The new structure is intended to convert Argent into a pure silver "play.""
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