Argonaut was created by an experienced executive management team that has a strong history of creating value and has been able to generate extraordinary returns for shareholders. Shareholder stock value increased by 62% in 2010 and 50% in 2011.
Argonaut Gold owns 100% of the operating El Castillo mine, the development stage and past producing La Colorada project, the San Antonio development stage project and the advanced exploration La Fortuna property. The company also holds 11 exploration properties in the state of Sonora, Mexico. El Castillo is Argonaut's 100% owned open pit, heap leach gold mine located one hour north of the state capital Durango; it hosts 1.23 million ounces of Proven and Probable Gold Reserves and 1.7 million ounces of Measured and Indicated Resources (including P&P). Overall the company hosts more than 6.5 million ounces in resources.
Argonaut evaluates mining projects that would benefit from skilled management, consolidation and access to capital. We saw such upside potential in El Castillo, La Colorada and San Antonio. Under Argonaut’s leadership, the combination of these assets and new capital allows for operational synergies, expansion of production and an increase in overall precious metals resources, resulting in a major increase in their combined values.
Production is guided at 85-95,000 ounces of gold with 75-80,000 ounces from El Castillo and 10-15,000 ounces at La Colorada (production anticipated in Q2 of 2012).
Argonaut Gold will deliver on operational targets, in a safe, cost efficient manner, while honoring commitments to the environment and communities where we operate.
Creating Value Beyond Gold