Argo Gold Inc. (ARQ) Financings
CSE: ARQ · Gold · Exploration stage
- Market cap$7.3M
- Share price$0.100
- 52-week range$0.050 – $0.145
- Shares outstanding72,943,274
- ExchangeCSE
- Properties5
- Websiteargogold.com
Argo Gold is a Canadian mineral exploration and development company, and an oil producer. 2025 oil production averaged 82 barrels per day and generated approximately CAD$ 1 million in net operating cash flow. Argo Gold’s mineral assets are high-grade gold projects in northwestern Ontario; Uchi Gold and Talbot Lake. Uchi Gold in the Red Lake district has high-grade gold mineralization from surface to a depth of 200 metres at the Woco and Northgate Zones. The Uchi Gold Project is highly prospective for additional gold mineralization. Talbot Lake in the Pickle Lake district has high-grade gold in quartz veins starting right at surface to 200 metres as well as known gold mineralization in the associated banded iron formation. In mid-2024, Argo branched out into the Rottenstone Belt frontier in Saskatchewan and acquired 226 square kilometres of mineral claims prospective for copper, nickel, zinc and gold. In 2025, Argo optioned the Dreaver Lake Gold project in Saskatchewan, a quartz diorite outcrop with 10-kilometres anomalous gold in lake sediments flanked by multiple untested conductors. Anticipating rapid growth in electrical power demand, Argo acquired 162 km2 of prospective uranium claims in Athabasca Basin of Saskatchewan. Argo Gold also holds a legacy Royalty on the Rockstar Gold Project in Alamos Gold’s Island Gold Camp where a 2020 drill hole found 5.0 g/t Au over 4.6 metres at a vertical depth 170 metres.
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Argo Gold Inc. financial statements
Key figures read from 26 of 26 financial statement filings, Jun 1, 2015 to May 30, 2023. Each column is the period as the company first filed it.
Balance sheet: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| Dec 2022 | Dec 2021 | Dec 2020 | Dec 2019 | Dec 2018 | |
|---|---|---|---|---|---|
| Cash and equivalents | C$7,104 | C$821,717 | C$1,807,018 | C$123,585 | C$250,713 |
| Total current assets | C$154,510 | C$1,206,458* | C$3,369,730* | C$317,753* | C$1,226,955* |
| Total current liabilities | — | C$79,157 | C$345,095 | C$274,909 | — |
| Working capital | — | C$1,127,301 | C$3,024,635 | C$42,844 | — |
| Exploration and evaluation assets | C$932,750 | C$932,750 | C$932,750 | C$808,983 | C$1,418,026 |
| Property, plant and equipment | C$4,904 | C$896 | C$1,488 | C$926 | C$6,178 |
| Total assets | C$1,092,164 | C$2,140,104 | C$4,303,968 | C$1,127,662 | C$2,651,159 |
| Total liabilities | C$478,434 | — | — | — | — |
| Shareholders' equity | C$613,730 | C$2,060,947 | C$3,958,873 | C$852,753 | C$2,073,924 |
* Calculated from the statement's own lines: the company did not print this total with a label.
Income statement: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2022 | FY Dec 2021 | FY Dec 2020 | FY Dec 2019 | FY Dec 2018 | |
|---|---|---|---|---|---|
| Exploration and evaluation expense | C$128,697 | C$1,278,322 | C$642,722 | C$853,736 | C$3,600 |
| General and administrative | C$481,185 | C$288,620 | C$357,035 | C$188,469 | C$252,278 |
| Share-based compensation | — | C$0 | C$429,380 | C$312,991 | C$56,327 |
| Net income (loss) | (C$1,447,217) | (C$2,176,180) | (C$206,547) | (C$1,225,438) | (C$350,132) |
Cash flow statement: annual key figures
Canadian dollars (C$), figures as printed in the statements. Losses and cash outflows are in brackets.
| FY Dec 2022 | FY Dec 2021 | FY Dec 2020 | FY Dec 2019 | FY Dec 2018 | |
|---|---|---|---|---|---|
| Operating cash flow | (C$807,695) | (C$1,980,986) | (C$1,386,949) | (C$1,136,063) | (C$135,719) |
| Investing cash flow | (C$6,918) | C$673,681 | C$311,895 | C$22,310 | (C$16,942) |
| Financing cash flow | C$0 | C$322,004 | C$2,758,487 | C$986,625 | C$351,462 |
| Exploration spending (capitalized) | — | C$0 | (C$435,000) | C$0 | (C$418,555) |
| Property, plant and equipment spending | — | (C$1,549) | (C$1,700) | C$0 | (C$4,507) |
| Proceeds from share issues | C$0 | C$350,004 | C$2,843,675 | C$142,812 | C$384,792 |
| Change in cash | (C$814,613) | (C$985,301) | C$1,683,433 | (C$127,128) | C$198,801 |
| Cash at end of period | C$7,104 | C$821,717 | C$1,807,018 | C$123,585 | C$250,713 |
Argo Gold Inc. financings
1 financing announced or closed by Argo Gold Inc., read by Mining News Terminal, newest first.
| Date | Company | Type | Stage | Amount | Unit price | Release |
|---|---|---|---|---|---|---|
| 2023-11-02 | Argo Gold Inc. (ARQ) | Private placement, non-brokered | Tranche closed, 1 tranche | $116K | $0.100 | Argo Closes Second Tranche of Financing and Operations Update |
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