BMO Capital Markets Comments on Argonaut Gold

BMO Capital Markets provided color on Argonaut Gold (TSX: "AR") after Argonaut's El Castillo announcement of results in a research report published today. BMO Capital Markets has an Outperform rating on Argonaut Gold. In the report, BMO Capital Markets states, "While sulphide gold recoveries are lower than oxide recoveries, the reasonable levels of cyanide and lime consumption in the sulphide test work indicate that some of the sulphide resource (1.5Moz gold) may be economic to extract contingent on further test work. The results of the test work are neutral given that BMO Research has yet to include sulphide mineralization into the El Castillo valuation."