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 rallied Tuesday, as upbeat corporate news helped drive the S&P 500 index to a sixth-straight gain. The Dow rose 65.12 points, or 0.4%, to end at 16514.37. The index is 0.4% below its Dec. 31 record closing high of 16576.66. The S&P 500 index advanced 7.66 points, or 0.4%, to 1879.55, posting its longest win streak since the seven-session stretch ended Sept. 11, 2013. The market has shown impressive resilience over the last week, after a sharp selloff in previously highflying biotechnology and technology stocks rattled investors earlier in the month. Some of those hardest hit stocks were among the biggest gainers during the market's bounce.More >
OZ Minerals (OZL) has released March Q production results with 18.2kt copper and 33.8Koz gold in concentrate vs 18.1kt Cu and 37.1Koz in the December Q, beating Argonaut’s forecast of 15.5kt Cu and 38.3koz Au. Cash costs were down significantly to US$1.35/lb (vs US$1.50/lb in December Q) driven by lower open pit and underground mining units costs and a higher mill feed grade. A maiden Reserve is expected on the Malu underground in the current Q as well as a maiden Resource on the Khamsin deposit. Argonaut believes that Khamsin may be used to sweeten a potential transaction on Carrapateena. Argonaut upgrades OZL to a BUY (previously HOLD) with an increased target price of $4.50. Our upgrade follows increasing confidence that the open pit production issues of 2013 are now behind the Company.More >
Autism West has provided Argonaut with a plaque in recognition of our support for Autism West at a Cocktail Party held at Royal Freshwater Bay Yacht Club. The plaque was presented, acknowledging those who have provided Autism West with long term support and assistance. Guest speakers at the event were Olympian Kieren Perkins and Olympic Coach Laurie Lawrence.More >