Scott McQueen, CFO, take note:I follow quite closely another...

Scott McQueen, CFO, take note:

I follow quite closely another higher cost/ serial disappointer gold stock, viz. Argonaut Gold (AR - Toronto). I've done VERY WELL with this stock over the last little while, having previously been kicked in the teeth by a predecessor company, Alio. Anyway, when it was announced that Alio was about to be acquired by AR, I loaded up, seeing an opportunity to recoup some losses. Mission accomplished and more. It's still my largest gold holding, though I recognize it's got a few warts.

Argonaut today announced a financing deal, the final piece of the puzzle to bring into production the Magino property right next door to the Island Gold mine (Alamos) near Wawa, bloody Wawa!, Ontario. Part of the financing package is a US dollar convertible debenture maturing Nov 30, 2025. It pays 4 5/8 % interest and is convertible into common shares atUS$2.86 per share. About Cdn$3.75 per share. If you compare the price charts of AR and OGC you would see that this would be equivalent to Oceana issuing a cv. deb. convertible at about Cdn$5 per share. A price last seen in 2016.

Scott, I hope you're paying attention, you useless twit. You managed to dilute your shareholders at the lowest price in 5 years (!!!), save for a few weeks when the plague hit.