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.
U.S. stocks wobbled between slight gains and losses Thursday, as a rebound in technology shares helped the broad market reverse early declines. The Dow Jones Industrial Average rose two points to 17721 in afternoon trading, bouncing back from a slide of as much as 139 points early in the session. The S&P 500 index gained two points, or 0.1%, while the Nasdaq Composite rose a point to 4879.More >
Saracen (SAR) released better than expected results from a Feasibility Study (FS) on its 100% owned Thunderbox (TB) project (Stage I open pit only). The asset shares numerous similarities with the existing Carosue Dam operation and enables SAR to step up its production profile to >300koz pa. Whilst Argonaut’s valuation on TB remains modest, the operation offers significant exposure to operational and gold price upside. Argonaut upgrades its target price to A$0.55 (was A$0.53) and maintains a BUY recommendation. The stock remains a key pick in the gold space.More >
Argonaut has been successful in the Placement of A$5 million (gross) for ABM Resources Limited (ASX: ABU) (“ABM”) via a Placement to Australian and Asian institutional and sophisticated investors of approximately 22.7 million new ordinary shares at an issue price of A$0.22 per share together with joint lead manager, Canaccord Genuity.More >