Argo Gold Announces Renewal of Normal Course Issuer Bid to Purchase Up to 3.65 Million Shares

Argo Gold Inc. has announced its intention to renew its normal course issuer bid to purchase up to 3,654,388 common shares, representing 5% of its issued and outstanding shares, over a 12-month period starting June 27, 2025. The company believes that purchasing shares for cancellation is an appropriate strategy for increasing long-term shareholder value. Argo Gold has purchased 777,307 shares and cancelled 747,807 shares since the inception of its original NCIB.

Argo Gold Inc. (CSE: ARQ) has announced its intention to renew its Normal Course Issuer Bid (NCIB) to purchase up to 3,654,388 common shares, representing 5% of its issued and outstanding shares, over a 12-month period starting June 27, 2025. The company believes that purchasing shares for cancellation is an appropriate strategy for increasing long-term shareholder value [2].

Since the inception of its original NCIB, Argo Gold has already purchased 777,307 shares and cancelled 747,807 shares. The remaining shares are scheduled for cancellation on June 30, 2025. The company will execute purchases through the Canadian Securities Exchange (CSE) or alternative trading systems at prevailing market prices [3].

The renewal of the NCIB demonstrates Argo Gold's commitment to returning capital to shareholders through strategic capital allocation. Share repurchases can enhance per-share metrics such as earnings per share and book value per share, potentially benefiting remaining shareholders. This approach aligns with the company's strategy to increase long-term shareholder value [2].

Argo Gold's management believes that the market price of its common shares may not fully reflect the value of its business and prospects. By repurchasing shares, the company aims to address this perceived mispricing and boost shareholder value [2].

The renewal of the NCIB will end on June 26, 2026, unless the maximum number of shares is purchased before then or Argo provides earlier notice of termination. This structured approach to capital return demonstrates disciplined financial management while maintaining the flexibility to allocate capital according to evolving market conditions [2].

References:
[1] https://www.stocktitan.net/news/BTE/baytex-announces-renewal-of-normal-course-issuer-bbdtcpji6ijj.html
[2] https://finance.yahoo.com/news/argo-renew-normal-course-issuer-151100332.html
[3] https://www.stocktitan.net/news/ARBTF/argo-to-renew-its-normal-course-issuer-s6vr55xlqql4.html