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

Gains in financial shares put the Dow Jones Industrial Average on track to extend its record streak. Stocks traded in a narrow range Monday, continuing a recent pattern of mostly quiet trading. With the third-quarter earnings season yet to begin in earnest, and several potential risks - including a potential Republican tax proposal and a Federal Reserve meeting - on the horizon, there are few reasons to make big moves. Still, stocks should continue grinding higher as long as data suggests growth in the U.S. economy remains solid, analysts said. The Dow industrials rose 72 points, or 0.3%, to 22341, heading toward its seventh consecutive session of gains and its 40th closing high of the year.

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Latest Research

The strong performance in 4Q17 sets TPS up well for FY18. The nature of both Monitoring and Guarding segments provides for a high degree of revenue consistency and we anticipate a baseload of ~$14m revenue in FY18. We expect further acquisitive growth in the Monitoring business to boost this number and, given the leverage in the underutilised control rooms, have a positive impact on margin. We upgrade to a speculative buy (prior hold) recommendation on a revised blended valuation of $0.040 (prior $0.030).

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Latest News

Argonaut acting as Lead Manager has successfully raised A$38 million for Metro Mining Limited (ASX: MMI) (“Metro”) via a two tranche placement to Australian and international institutional investors at an issue price of A$0.135 per share. The placement was heavily oversubscribed with significant demand generated from existing and new institutional investors.

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