2019-Q4-and-YE-Financial-release-FINAL
TORONTO, Feb. 24, 2020 /CNW/ – Argonaut Gold Inc. (TSX: AR) (the “Company”, “Argonaut Gold” or “Argonaut”) announces its financial and operating results for the fourth quarter and year ended December 31, 2019. The Company reports fourth quarter 2019 adjusted net income1 of $2.7 million or adjusted earnings per basic share1 of $0.01 and an unadjusted net loss of $107.5 million or loss per share of $0.60, derived from the sale of 48,843 gold equivalent ounces2 (“GEO” or “GEOs”), which generated cash flow before changes in working capital of $27.2 million. For the full year 2019, the Company reports adjusted net income1 of $13.0 million or adjusted earnings per basic share1 of $0.07 and an unadjusted net loss of $93.1 million or loss per share of $0.52, derived from the sale of 194,269 GEOs, which generated cash flow from operations before working capital changes of $73.8 million. All dollar amounts are expressed in United States dollars unless otherwise specified.