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Magino costs continue to rise for Argonaut

Argonaut Gold has announced an additional capital cost blowout for its Magino gold mine development in Ontario, Canada with its estimate now 15% above the C$800 million blowout figure it reported in December 2021.

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Argonaut Gold's Magino in Ontario, Canada

Adding 15% means the capital estimate is now $920 million of which the company said it has spent $400 with the project about 50% completed.