Argonaut was over 70 cents per share around November 2007. Yes you've got to love GFC (not). However an opportunity has presented itself. The prospects and book value for ARE per share have increased since, except this has not been reflected in the share price. Only 165 million shares on issue and over $7 million in the bank. Getting close to cash value only and not factoring in high quality projects (one bigger than olympic dam). Minimal downside risk for ARE indeed, upside potential great. Multibagger IMO.
ARE Price at posting:
4.7¢ Sentiment: Buy Disclosure: Held
