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ARGONAUT GOLD Argonaut Gold Announces Record Quarterly Production of 63,749 Gold Equivalent Ounces , Record Quarterly Revenue of $ 120.2 Million and Provides Second Quarter 2021 Operating and Financial Results Toronto , Ontario - ( August 10 , 2021 ) Argonaut Gold Inc. ( TSX : AR ) ( the " Company " , " Argonaut Gold " or " Argonaut " ) is pleased to announce its operating and financial results for the second quarter ended June 30 , 2021. The Company reports record quarterly production of 63,749 gold equivalent ouncesi ( “ GEO " or " GEOs ” ) , record quarterly revenue of $ 120.2 million , cash flow from operating activities before changes in non - cash operating working capital of $ 39.3 million , net income of $ 21.8 million or earnings per basic share of $ 0.07 and adjusted net income of $ 24.4 million or adjusted earnings per basic share " of $ 0.08 . All dollar amounts are expressed in United States dollars , unless otherwise specified ( C $ refers to Canadian dollars ) . Pete Dougherty , President and CEO stated : “ It was a tremendous operational and financial quarter for Argonaut Gold . We set new quarterly records for GEO production and revenue and provided strong cash flow and earnings . We also continued to advance the construction of the Magino project , which is tracking on schedule for first gold pour during the first quarter of 2023 . In terms of operational improvements , we expect to ramp up the new conveying and stacking system at Florida Canyon to design capacity during the third quarter and to start reaping the benefits of this investment during the fourth quarter . " Key operating and financial statistics for the three months and six months ended June 30 , 2021 are outlined in the following table : 1