10:26:03 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Argonaut Gold Inc
Symbol AR
Shares Issued 177,791,404
Close 2018-06-28 C$ 2.16
Market Cap C$ 384,029,433
Recent Sedar Documents

Argonaut has La Colorada explosive permit reinstated

2018-06-29 07:34 ET - News Release

An anonymous director reports

ARGONAUT GOLD ANNOUNCES THE COLLEGIATE TRIBUNAL HAS RULED TO REINSTATE THE EXPLOSIVES PERMIT AT THE LA COLORADA MINE

The Collegiate Tribunal (an arm of the State Supreme Court that is tasked with overseeing the Judiciary Court) has unanimously ruled to lift the suspension of the explosives permit at Argonaut Gold Inc.'s La Colorada mine (see press releases dated April 12, 2018, April 17, 2018, April 27, 2018, May 17, 2018, and June 5, 2018). The ruling directs that the Secretary of National Defense (SEDENA) reinstate the explosives permit.

SEDENA was immediately informed of the ruling and it is expected that SEDENA will reinstate the explosives permit imminently. Once SEDENA officially reinstates the explosive permit, the company will be able to resume blasting operations. It is anticipated that ramp-up of full operations will be re-established by approximately mid-July.

With this successful appeal, the company will now have the ability to continue full operations during the balance of the judiciary legal process. The company is encouraged by the Collegiate Tribunal's ruling and continues to believe the legal action brought against SEDENA and the Municipality of La Colorada is without merit.

During the suspension, the company continued to operate at the budgeted production rate of 12,000 tonnes per day with free-dig material in the pit and low-grade ore stockpiles.

About Argonaut Gold Inc.

Argonaut Gold is a Canadian gold company engaged in exploration, mine development and production activities. Its primary assets are the production stage El Castillo mine and San Agustin mine, which together form the El Castillo complex in Durango, Mexico, and the production stage La Colorada mine in Sonora, Mexico.

We seek Safe Harbor.

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