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

Global stock markets were mixed Thursday as investors focused on the latest batch of corporate earnings and digested a weaker-than-expected reading for second-quarter U.S. gross domestic product. U.S. stocks were dragged lower after the Commerce Department said Thursday that U.S. economic output in the second quarter expanded at an annual rate of 2.3%. Economists surveyed by The Wall Street Journal had expected the rate of growth to be 2.7%. However, both the Dow and the S&P 500 finished the days trading relatively flat.

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Latest Research

Sino Gas (SEH) released its Q2 2015 report capping off an operationally successful quarter. The Company finalised the installation and equipment tie in phase of wells for the Linxing (LX) gathering station, however the first gas date shifted by one month to August due to heavy rain. Positively Sanjiaobei (SJB) recorded an average production rate of 4.3mmscf/d. In addition, SEH drilled a total of 13 wells comprising two exploration, 10 vertical development and one horizontal with five production tests performed with results within the expected range. The vertical TB-27 well was a standout with a 1.8mmscf/d flow rate from an unfracced reservoir. Importantly, the Company addressed in detail the significant market concerns arising from 1) Gas offtake volumes lagging behind installed capacity 2) the lag in transfer of revenue from its PSC partners to SGE and 3) China gas

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Latest News

Argonaut has been successful in raising A$31.6 million (gross) for Austin Engineering Limited (ASX: ANG) (“Austin”) via an accelerated entitlement offer to institutional and retail investors of approximately 70,228,337 new ordinary shares at an issue price of A$0.45 per share with joint underwriter, Bell Potter Securities Limited.

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