Retail investors have no chance to take advantage of 10-100 baggers. Seniors flush with cash have learned from the past to pick up valued juniors early in the game while they these been devastated during long years of slow down in PM sector.

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Argonaut Gold and Alio Gold Complete Merger to Create North American Diversified Intermediate Gold Producer

TORONTO, July 01, 2020 (GLOBE NEWSWIRE) — Argonaut Gold Inc. (“Argonaut” or “Argonaut Gold”) (AR.TO) and Alio Gold Inc. (“Alio” or “Alio Gold”) (TSX, NYSE-A: ALO) have completed the business combination to create a North American, diversified precious metals producing company with a strong portfolio of growth assets. Alio shares are expected to cease trading on the NYSE American on July 1, 2020 and be de-listed from the Toronto Stock Exchange after close of business on July 3, 2020. Under the terms of the Arrangement Agreement, all of the Alio issued and outstanding common shares will be exchanged on the basis of 0.67 of an Argonaut common share per each Alio common share
Alio shares deposited in an online trading account will update automatically to reflect the conversion to Argonaut shares, generally within two weeks of closing.

https://finance.yahoo.com/news/argonaut-gold-alio-gold-complete-120427341.html