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"Friendly aquisition" of Prodigy Gold (Oct. 2012) / > 100k ounces in 2012

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Message: What have you done for me lately?
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This NR looks pretty good to me. Cash cost per oz is only $597 which is lower than what was estimated. Now, how about getting that sp back up to the $11.00 level where it was before we inheirited this thing?

Argonaut Gold Announces 2012 Revenue of $187.1 Million and Net Income of $64.9 Million

2012 Basic Earnings Per Share of $0.68

March 26, 2013

TORONTO, ONTARIO--(Marketwire - March 26, 2013) - Argonaut Gold Inc. (TSX:AR) (the "Company", "Argonaut Gold" or "Argonaut") is pleased to announce its financial and operating results for the fourth quarter and year ended December 31, 2012. All dollar amounts are expressed in United States dollars unless otherwise specified.

2012 Highlights:

  • Completed the Prodigy Gold acquisition, adding the Magino project which contains over 6.3 million ounces in resources, nearly doubling our overall resource base.
  • Constructed and started pouring gold at the La Colorada Mine, representing our second operating mine.
  • Successfully carried out capital expansion programs to enhance production at El Castillo, and La Colorada while reducing operating cost.
    • Production increased to 108k ounces, a 50% improvement over 2011, and 10% greater than guidance.
    • Cash cost per gold ounce sold of $597, a 4% improvement over 2011, and lower than guidance of $625-$650.
  • Expanded our drill programs at La Colorada (Veta Madre) and San Antonio (La Colpa) adding further mineralization to the Company's resources.
  • Completed further metallurgical test work on El Castillo's sulphide resource, adding over 360k ounces to our in-pit resources.
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