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. stocks came under selling pressure in afternoon trade Monday, as rising bond yields weighed on Wall Street sentiment. The closely watched yield on the 10-year Treasury note climbed, approaching a psychologically important 3% level. The Dow Jones Industrial Average fell 0.1%, and the S&P 500 index was stable. Technology and consumer staples shares were notable declines, down 0.7% and 0.5%, respectively. The Nasdaq Composite Index shed 0.3%. Bond yields, which are reflecting a rise in inflation expectations, were on the march higher Monday, a continuation of gains logged last week. While strong earnings results should keep stocks underpinned in the short term, investors should not "drop their guard" given the charge higher for U.S. bond yields, said Konstantinos Anthis, head of research at ADS Securities. The US gold price fell overnight by 0.8% to finish at 1324.20 US$/oz.

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Latest Research

Xanadu Mines (XAM) has continued its exploration success with the discovery of four additional mineralised porphyry systems within its Kharmagtai copper/gold project in Mongolia. To date, XAM has defined at least eight mineralised porphyry centres, demonstrating an outstanding strike rate on the 19 prospective targets identified on the project. Most recently, drilling at the Zaraa prospect returned 316m at ~0.4% Cu Eq. We believe Khamagtai has high corporate appeal to mid to large cap base metal/diversified producers given its world class porphyry locality (hosting RIO’s Oyu Tolgoi deposit) and the scale of the mineralised system with complete, intact porphyries from surface. 

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Latest News

Argonaut advised 88 Energy Limited (ASX: 88E) (“88E”) on the refinancing of its outstanding loan of US$16.5 million with Bank of America.
Whilst the commercial terms of the agreement remain confidential, the transaction was completed on substantially similar terms to the original loan agreement.

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