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

Soaring Wal-Mart shares and the passage of a tax-overhaul bill in the House helped send U.S. stock indexes toward their biggest gains since September intraday. The moves reflected what has powered much of this year's rally: improving profits and sales at American companies, plus the prospect that corporate tax cuts could boost earnings even further. After the S&P 500 posted its steepest one-day decline since September a day earlier, investors snapped up shares across several sectors of the stock market. Some of the biggest gainers: groups that have struggled this year, such as consumer staples companies, and technology stocks, major contributors to this year's gains. The Dow Jones Industrial Average added 187 points, or 0.8%, to 23458, while the S&P 500 also rose 0.8%. The Nasdaq Composite rose 1.4%. The U.S. gold price finished ever so slightly up for the day’s trading at 1,278.1 US$/oz.

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Latest Research

After acquiring East Coast-based Heyday in FY17 SCEE transformed its business by diversifying revenue streams across sectors and geographies. The Company now has strong growth prospects through exposure to the NSW commercial market. The recent placement ($33.2m at an issue price of $0.75) will provide necessary working capital to support this strong growth. However, despite our positive view, recent share price gains leave little upside to our revised $0.80 valuation causing us to downgrade to a HOLD.

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Latest News

Argonaut acted as Lead Manager to successfully raise A$5.2 million for Strandline Resources Limited (ASX:STA) (“Strandline”). The Company raised funds from Australian and international institutional and professional investors by way of a placement at an issue price of A$0.008 per share, a 23.08% premium to the last close price (as at 11 May 2017) of $0.0065. The raise was cornerstoned by Strandline’s long term shareholder and successful resources investor, Tembo Capital, as well as experienced mining & minerals investment company, C&H International Investment Limited.

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