Argonaut | The Natural Choice in Resources

Argonaut is a full service advisory, stockbroking & research and investment house with offices in Perth and Hong Kong. Argonaut is technically driven & focused on natural resource companies & businesses that service the metals, mining, energy and agri-business sectors. Argonaut has an established track record of creating significant wealth for clients.

Morning Notes

U.S. markets closed were closed overnight for the President’s day public holiday. Global stocks continued their slow climb higher Monday, even as political jitters drove steep swings in the European government bond markets. In European stock markets, the basic resources sector led Monday's gains amid a recovery in copper and oil prices. The Stoxx Europe 600 added 0.2% in its ninth advance in 10 sessions after Asian shares ended a touch firmer, drawing encouragement from Friday's late advance on Wall Street. "If [President Donald] Trump can actually execute spending in infrastructure and lower tax rates in U.S., it'll have a profound knock-on effect in the world, and that is why I'm generally positive about stock markets," said Michelle McGrade, chief investment officer at TD Direct Investing in London. Recent gains in Europe have come despite escalating concerns over Greece's bailout and coming elections in France, Germany and the Netherlands, which have rattled the region's sovereign bond markets.

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Latest Research

MCE’s share price has climbed nearly 50% since late December. The gain reflects a balance sheet which should see the Company through a very tough period, while providing management the breathing space to diversify into new products and markets. However, this takes time and we believe evidence of strategy execution is needed to drive further share price gains from here. We recommend pausing for release of the financials and an operational update with the interims later this month. We make no changes to our forecasts or valuation, but downgrade our recommendation from Spec Buy to Hold.

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Latest News

Edward Rigg, Argonaut’s Managing Director & Head of Corporate Finance, will join Liam Twigger (PCF Capital) and Bryan Dixon (Blackham Resources) to share their views on the Market Outlook for 2017 from a Resources Perspective, at the WA Mining Club’s first luncheon for 2017. The luncheon will take place at the Hyatt Regency, Perth on Thursday 16 February 2017.

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