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 closed higher amid light trading Wednesday as investors digested this week's economic data, which may be positive enough to keep the Fed's potential December interest-rate hike on the table. At the close, the Dow and the S&P 500 were both flat while the NASDAQ was up 0.3%.
U.S. markets were closed on Thursday in commemoration of Thanksgiving. Elsewhere, talk of further stimulus from the European Central Bank caused a rally in European stocks ahead of next Tuesday's meeting. The stimulus would serve as a measure to assist with inflation and growth.More >
Argonaut visited MZI Resources’ (MZI) Keysbrook mineral sands project last week. The standout observation from our tour of the mine and wet processing facility was the rate at which the project is ramping-up. Just one week since commissioning began, the wet concentration plant (WCP) is stringing together shifts at nameplate production. The Doral Mineral Separation Plant (MSP) at Picton (dry separation) also produced the first batch of saleable product last week. MZI is finalising a ~$45m equity raising at $0.40/sh which will be used to repay US$25.5m in bridging loans to Resource Capital Fund (RCF) as well as working capital to advance expansion and improved recovery studies. Argonaut maintains a BUY recommendation with a $0.73 target price.More >
Argonaut has successfully received commitments for approximately A$45 million (gross) for MZI Resources following a share Placement and Share Purchase Plan (SPP) undertaken at $0.40 per share. Bell Potter was joint lead manager. The proceeds will support MZI’s ramp-up production at its Keysbrook Project with a strengthened balance sheet and simplified capital structure.More >