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.
Corporate earnings drove some of the day's biggest moves in stocks, though major U.S. indexes were little changed overall. American Express was the biggest gainer in the Dow industrials, rising 10% after the company beat forecasts for earnings and revenue Wednesday. The telecommunications sector was down the most in the S&P 500, falling 2%.More >
Western Areas (WSA) released September Q results with 5.8kt Ni in concentrate @ C1 costs of A$2.53/lb (before payability), versus Argonaut’s forecast of 5.5kt @ A$2.40/lb. Production fell Q-on-Q as the mill head grade (4.1% Ni) tracked lower towards the residual Reserve grade of the Spotted Quoll (SQ) and Flying Fox (FF) mines (4.0% Ni). A reduction in total mining costs coupled with a 20% increase in the realised Ni price, resulted in $5.4m free cash generation. On the development front, WSA increased the New Morning Resource by 165% following a campaign of surface drilling.More >
Argonaut, as Lead Manager to the Placement and Underwriter to the Entitlements Offer, has successfully raised A$10.1 million for Gage Roads Brewing Co Limited (ASX: GRB) (“Gage Roads” or “the Company”) via a placement to institutional investors of $1.6 million in September and a fully underwritten 4 for 5 non-renounceable entitlement issue to existing shareholders to raise a further $8.5 million.More >