Welcome to our dedicated page for Argo Gold news (Ticker: ARBTF), a resource for investors and traders seeking the latest updates and insights on Argo Gold stock.
Argo Gold Inc. (ARBTF) generates a steady flow of news related to its dual focus as a Canadian mineral exploration and development company and an oil producer. Company releases highlight activity at its heavy crude oil wells in the Lloydminster and Lindbergh areas of Alberta, as well as exploration progress on mineral claim positions in Saskatchewan, including uranium claims in the Athabasca Basin and gold and base metal projects in the Rottenstone Belt and at Dreaver Lake.
Investors following ARBTF news can review detailed monthly oil production updates, where Argo Gold reports barrels produced, average daily production, realized oil prices, oil revenue and net operating cash flow for each producing well. The company also publishes summaries of independent reserves evaluations for its heavy crude oil assets, prepared under Canadian oil and gas disclosure standards, which outline proved and probable reserves and associated future net revenue estimates.
On the exploration side, Argo Gold issues news about changes to its mineral claim positions, such as increases in uranium mineral claims at Thunderclap in the Athabasca Basin, and the granting of mineral exploration permits in Saskatchewan. These releases describe the size and location of claim blocks, the types of commodities considered prospective, and historical exploration results reported by other parties that form part of the scientific basis for further work.
Corporate and governance developments are also covered, including the adoption of an advance notice bylaw for director nominations and announcements regarding a normal course issuer bid to repurchase common shares. For readers tracking ARBTF, this news feed offers a centralized view of Argo Gold’s operational updates, exploration milestones and corporate actions over time.
Argo Gold reported its October 2024 oil production results, achieving 3,651 barrels for the month, averaging 118 barrels per day. The company generated oil revenue of $258,369 with net operating cash flow of $170,041, at average oil prices of CDN$71 per barrel.
The company's production comes from multiple wells: Lindbergh 1 (37.5% interest), Lloyd 1 (18.75% interest), Lindbergh 2 (37.5% interest), Lloyd 2 (18.75% interest), and Lindbergh 3 (18.75% interest). Notably, Lindbergh 3 began production in late October, while Lloyd 2 experienced operational issues with a collapsed horizontal well bore, leading to its shutdown in late November after producing 8,000 barrels from mid-September to late October.
Argo Gold has signed agreements to acquire uranium mineral claims in Saskatchewan's Athabasca Basin. The acquisition includes the Parker Lake claims (11,644 hectares), purchased for a 2% NSR royalty, and the Thunderbolt and ZigZag claims (4,318 hectares combined), acquired for $5,000 cash and 500,000 company shares.
The Parker Lake claims feature 69 radioactive boulders and a 30km stretch of the Parker Lake Shear Zone. The Thunderbolt claims are located near ISO Energy's Hurricane Deposit, while the ZigZag claims are situated along the Patterson Lake Shear Zone, on-trend with several significant uranium deposits. Saskatchewan ranks third globally for mineral exploration and mining according to the Fraser Institute.
Argo Gold reported its September 2024 oil production results, achieving a total of 3,565 barrels for the month, averaging 118 barrels per day. The company generated oil revenue of $241,198 with net operating cash flow of $163,738 at average oil prices of CDN$68 per barrel. Production came from four wells: Lindbergh 1 (37.5% interest), Lloyd 1 (18.75% interest), Lindbergh 2 (37.5% interest), and Lloyd 2 (18.75% interest). Lloyd 2 began production in mid-September, and the company participated in a third Lindbergh well (18.75% interest) that started production in late October.
Argo Gold Inc. (CSE: ARQ) (OTC Pink: ARBTF) has announced its participation in a second horizontal oil well, Lloyd 2, at the General Petroleum (GP) Formation. The company holds an 18.75% pro rata interest in this well, which was drilled in late August and is now in production. This marks Argo's fourth oil well participation, following Lindbergh 1, Lloyd 1, and Lindbergh 2. The company also revealed plans for the development drilling of a third oil well at Lindbergh in Q4 2024. This update demonstrates Argo's continued expansion in oil exploration and production activities, potentially impacting its future revenue streams and market position.
Argo Gold Inc. (CSE: ARQ, OTC Pink: ARBTF) reported its July 2024 oil production results. The company produced a total of 2,947 barrels for the month, averaging 95 barrels per day. Oil prices averaged CDN$81.79 per barrel, resulting in oil revenue of $241,065 and net operating cash flow of $161,982.
Argo's production comes from three wells: Lindbergh 1 (37.5% interest), Lloyd 1 (18.75% interest), and Lindbergh 2 (37.5% interest). In late August, a second horizontal oil well was drilled at Lloyd, with Argo holding an 18.75% interest. The company plans to drill a third oil well at Lindbergh in Q4 2024.
Argo Gold Inc. (CSE: ARQ) (OTC Pink: ARBTF) reported its oil production for June 2024. The company produced a total of 3,214 barrels for the month, averaging 107.5 barrels per day. With oil prices averaging CDN$80.85 per barrel, Argo's June oil revenue reached $259,855, resulting in a net operating cash flow of $170,750.
The production breakdown includes:
- Lindbergh 1 (37.5% interest): 105 bbl/day, contributing 39.5 bbl/day to Argo
- Lloyd (18.75% interest): 181 bbl/day, contributing 34 bbl/day to Argo
- Lindbergh 2 (37.5% interest): 90 bbl/day, contributing 34 bbl/day to Argo
These figures demonstrate Argo Gold's ongoing oil production activities and the resulting revenue streams from its various interests in oil fields.
Argo Gold Inc. (CSE: ARQ) (OTC Pink: ARBTF) has acquired mineral claims in North Saskatchewan for $7,000 cash and 1,000,000 common shares. The claims, totaling 5,955 hectares, are located near the former Rottenstone Mine, which produced nickel, copper, gold, and platinum group metals from 1965 to 1969. Argo has also staked an additional 15,161 hectares in the area.
The company now owns 21,116 hectares of high-quality exploration targets in an emerging metallogenic district. Recent discoveries by Ramp Metals Inc. and exploration activities by Fathom Nickel highlight the area's potential. Saskatchewan ranks third globally in the Fraser Institute's Annual Survey of Mining Companies, positioning Argo favorably for mineral exploration in a mining-friendly jurisdiction.
Argo Gold reported its May 2024 oil production at 3,375 barrels, averaging 109 barrels per day. The company earned an average oil price of CDN$79.43 per barrel, resulting in total revenue of $268,111 and a net operating cash flow of $175,732. Argo holds interests in three oil fields: Lindbergh 1, Lindbergh 2, and Lloyd. In Lindbergh 1, with a 37.5% interest, Argo produced 41 barrels per day, earning $100,878 in revenue and generating $65,952 in net operating cash flow. At Lloyd, with an 18.75% interest, the company produced 37.5 barrels per day, garnering $92,210 in revenue and $61,398 in net operating cash flow. Lastly, in Lindbergh 2, with a 37.5% interest, Argo produced 30.5 barrels per day, earning $75,023 in revenue and resulting in $48,382 in net operating cash flow.
Argo Gold announced its plan to initiate a normal course issuer bid (NCIB) starting June 27, 2024, to repurchase up to 3,617,692 common shares, representing 5% of its issued and outstanding shares. This initiative will span 12 months, concluding on June 26, 2025, unless the maximum shares are acquired before then or the program is terminated early. The company believes the current market price undervalues its business and prospects, making this buyback a strategic move to enhance long-term shareholder value. Purchases will be conducted through the Canadian Securities Exchange or alternative trading systems at prevailing market prices. All repurchased shares will be canceled.
Argo Gold reported April 2024 oil production totaling 2,842 barrels, with an average daily output of 95 barrels. The average oil price for April was CDN$83 per barrel, leading to a total oil revenue of $235,869 and a net operating cash flow of $133,739.
Argo's production from Lindbergh 1 (37.5% interest) was 85 barrels per day, contributing 32 barrels per day to Argo's share. This resulted in $79,398 in revenue and $39,084 in net operating cash flow. From the Lloyd site (18.75% interest), production was 182 barrels per day, with Argo's share at 34 barrels per day, generating $85,179 in revenue and $51,286 in net operating cash flow. Lindbergh 2 (37.5% interest) produced 76 barrels per day, with Argo's share at 29 barrels per day, resulting in $71,292 in revenue and $43,369 in net operating cash flow.