Information Disclosure, General Disclosure and Disclaimer


Information Disclosure

Each research analyst of this material certifies that the views expressed in this research material accurately reflect the analyst's personal views about the subject securities and listed corporations. None of the listed corporations reviewed or any third party has provided or agreed to provide any compensation or other benefits in connection with this material to any of the analyst(s).

Company Code Disclosure
Agrimin Limited AMN Argonaut participated in the Placement that raised $6.832M in March 2017 and received fees commensurate with this service.
AWE Limited AWE AWE Limited has executed a contract with the privately owned drilling contractor Enerdrill, to drill up to 4 wells on industry standard terms. Argonaut has a material investment in Enerdrill.
Berkeley Energia Limited BKY Argonaut acted as Co-Manager to the Placement to raise approximately US$30M in November 2016 and received fees commensurate with this service.
Botanix Pharmaceuticals Ltd BOT
Argonaut acted as the Lead Manager to the Placement that raised $7.4M in April 2017 and will receive fees commensurate with this service.  Argonaut acted as the Lead Manager to the Offer that raised $3.5M in June 2016 and received fees commensurate with this service.  Argonaut holds or controls 12.1M BOT Options exercisable at $0.03 on or before 30 June 2019.
Cradle Resources Limited CXX
Argonaut acts as Financial Adviser to CXX and will receive fees commensurate with these services. Argonaut holds or controls 1.6M CXX shares, 1M CXX Options exercisable at $0.25 on or before 30 April 2018 and 1M CXX Options exercisable at $0.25 on or before 31 October 2018.
Dacian Gold Limited DCN Argonaut acted as Co-Lead Manager to the Placement that raised $110M in February 2017 and received fees commensurate with this service.
Dakota Minerals Limited DKO
Argonaut currently owns and/or controls 560,933 DKO Shares,  1.6875M DKO Options exercisable at $0.035 on or before 31 Dec. 2017, 12.5M DKO Options exercisable at $0.06 on or before 31 Dec. 2017,  and 6.25M DKO Options exercisable at $0.09 on or before 31 Dec. 2017.
Gascoyne Resources Limited GCY Argonaut acted as Co-Manager to the Placement that raised $50M in February 2017 and received fees commensurate with this service.
Gage Roads Brewing Co Limited GRB
Argonaut acted as the Lead Manager & Underwriter to the Placement & Entitlement Offer to raise $10.1M in August 2016 and received fees commensurate with this service.  Argonaut holds or controls 15M GRB Options exercisable at $0.07 on or before 14 October 2019.
High Peak Royalties Ltd HPR Argonaut holds or controls 2,502,012 HPR Options exercisable  at $0.35 on or before 15 April 2017.
Kibaran Resources Limited KNL
Argonaut acted as Joint Lead Manager to the Placement that raised $10.9M in August 2016 and received fees commensurate with this service.  Argonaut acts as Financial Adviser to KNL and will receive fees commensurate with this service.  Argonaut currently owns and/or controls 333,333 KNL Options exercisable at $0.20 on or before 29 August 2016.
Metro Mining Limited MMI
Argonaut acted as Sole Lead Manager to the Placement & Underwriter to the Entitlement Offer that raised $52.4M in February 2017 and received fees commensurate with this service.  Argonaut acted as Financial Adviser to the Strategic Financing with Greenstone announced in July 2016 and received fees commensurate with this service.   Argonaut acts as Financial Adviser to MMI and will receive fees commensurate with these services.   Argonaut currently holds or controls 4,334,970 MMI shares and 4M MMI Options exercisable at $0.08 on or before 23 December 2019.
Millennium Minerals Limited MOY Argonaut acts as Financial Adviser to MOY and will receive fees commensurate with these services.
MZI Resources Limited MZI Argonaut has acted as Financial Adviser to MZI in the previous 12 months.  Argonaut holds or controls 1,660,612 MZI shares and 1M MZI Options exercisable at $0.50 on or before 30 May 2018.
Northern Minerals Ltd NTU
Argonaut acts as Financial Adviser to NTU and will receive fees commensurate with these services. Argonaut holds or controls 894,133 NTU shares.
Orthocell Limited OCC
Argonaut acted as the Sole Lead Manager of the Placement to raise $4.0M in December 2016 and received fees commensurate with this service.  Argonaut currently owns and/or controls 600K OCC options exercisable at $0.55 on or before 13 December 2019.
Pacific Energy Limited PEA Argonaut acts as Financial Adviser to PEA and receives fees commensurate with this service.
Paringa Resources Limited PNL Argonaut acted as Lead Manager to the Placement to raise $53.0M in April 2017 and will receive fees commensurate with this service.  Argonaut acted as Joint Lead Manager to the Placement that raised approximately $6.5M in July 2016 and received fees commensurate with this service.  Argonaut acted as the Joint Lead Manager to the Placement to raise $8.0M in December 2016 and received fees commensurate with this service.  Argonaut acts as Financial Adviser to PNL and will receive fees commensurate with these services.  Argonaut currently owns and/or controls 43,500 PNL shares.
Salt Lake Potash Limited SO4
Argonaut acted as Manager to the Placement of up to 11M shares that raised up to $4.73M in May 2017 and will receive fees commensurate with this service.
Sino Gas & Energy Holdings Ltd SEH Argonaut has acted as Financial Adviser to SEH in the previous 12 months. Argonaut holds or controls 7M SEH shares.
St George Mining Ltd SGQ
Argonaut acts as Financial Adviser to SGQ and will receive fees commensurate with this service.  Argonaut acted as Co-Manager to the Placement that raised approximately $6.5M in August 2016 and received fees commensurate with this service.
Strandline Resources Ltd STA Argonaut acted as Lead Manager to the Placement to raise up to $6.0M in May 2017 and received fees commensurate with this service.
Threat Protect Australia Limited TPS
Argonaut has acted as Financial Adviser to TPS in the previous 12 months.  Argonaut currently owns and/or controls 20M TPS options exercisable at $0.025 on or before 1 September 2018.
Troy Resources Limited TRY Argonaut acted as Broker to the Offer for the Equity Raising  of approximately $40.7M in September 2016 and received fees commensurate with this service.
Vault Intelligence Limited VLT
Argonaut participated in Placment to raise $1.5M in April 2017 and will receive fees commensurate with this service.  Argonaut acted as the Lead Manager to the Public Offer to raise $4.3M in May 2016 and received fees commensurate with this service.  Argonaut currently owns and/or controls 2.55M VLT shares and 23.92M VLT options exercisable at $0.025 on or before 1 July 2019.

General Disclosure and Disclaimer

This research has been prepared by Argonaut Securities Pty Limited (ABN 72 108 330 650) (“ASPL”) or by Argonaut Securities (Asia) Limited (“ASAL”) for the use of the clients of ASPL, ASAL and other related bodies corporate (the “Argonaut Group”) and must not be copied, either in whole or in part, or distributed to any other person. If you are not the intended recipient you must not use or disclose the information in this report in any way. ASPL is a holder of an Australian Financial Services License No. 274099 and is a Market Participant of the Australian Stock Exchange Limited. ASAL has a licence (AXO 052) to Deal and Advise in Securities and Advise on Corporate Finance in Hong Kong with its activities regulated by the Securities and Futures Ordinance (“SFO”) administered by the Securities and Futures Commission (“SFC”) of Hong Kong.

Nothing in this report should be construed as personal financial product advice for the purposes of Section 766B of the Corporations Act 2001 (Cth). This report does not consider any of your objectives, financial situation or needs. The report may contain general financial product advice and you should therefore consider the appropriateness of the advice having regard to your situation. We recommend you obtain financial, legal and taxation advice before making any financial investment decision.

This research is based on information obtained from sources believed to be reliable and ASPL and ASAL have made every effort to ensure the information in this report is accurate, but we do not make any representation or warranty that it is accurate, reliable, complete or up to date. The Argonaut Group accepts no obligation to correct or update the information or the opinions in it. Opinions expressed are subject to change without notice and accurately reflect the analyst(s)’ personal views at the time of writing. No member of the Argonaut Group or its respective employees, agents or consultants accepts any liability whatsoever for any direct, indirect, consequential or other loss arising from any use of this research and/or further communication in relation to this research.

Nothing in this research shall be construed as a solicitation to buy or sell any financial product, or to engage in or refrain from engaging in any transaction. The Argonaut Group and/or its associates, including ASPL, ASAL, officers or employees may have interests in the financial products or a relationship with the issuer of the financial products referred to in this report by acting in various roles including as investment banker, underwriter or dealer, holder of principal positions, broker, director or adviser. Further, they may buy or sell those securities as principal or agent, and as such may effect transactions which are not consistent with the recommendations (if any) in this research. The Argonaut Group and/or its associates, including ASPL and ASAL, may receive fees, brokerage or commissions for acting in those capacities and the reader should assume that this is the case.

There are risks involved in securities trading. The price of securities can and does fluctuate, and an individual security may even become valueless. International investors are reminded of the additional risks inherent in international investments, such as currency fluctuations and international stock market or economic conditions, which may adversely affect the value of the investment.

The analyst(s) principally responsible for the preparation of this research may receive compensation based on ASPL’s and / or ASAL’s overall revenues.

Hong Kong Distribution Disclosure

This material is being distributed in Hong Kong by Argonaut Securities (Asia) Limited which is licensed (AXO 052) and regulated by the Hong Kong Securities and Futures Commission. Further information on any of the securities mentioned in this material may be obtained on request, and for this purpose, persons in the Hong Kong office should be contacted at Argonaut Securities (Asia) Limited of Unit 701, 7/F, Henley Building, 5 Queen’s Road Central, Hong Kong, telephone (+852) 3557 4800.

Copyright

© 2013. All rights reserved. No part of this document may be reproduced or distributed in any manner without the written permission of Argonaut Securities Pty Limited and / or Argonaut Securities (Asia) Limited. Argonaut Securities Pty Limited and Argonaut Securities (Asia) Limited specifically prohibits the re-distribution of this document, via the internet or otherwise, and accepts no liability whatsoever for the actions of third parties in this respect.