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

President Donald Trump declared a national emergency on the US southern border Friday in an attempt to secure more funding to build his proposed wall, and signed legislation providing around $1.4 billion for the project;  Pro-Brexit members of Theresa May’s Cabinet would be willing to keep Britain tied to the European Union’s customs regime for another five years in an effort to break the deadlock in talks;  The US and China are sending signals they may reach an agreement or extend talks to end their trade spat, alleviating concerns that the Trump administration will increase tariffs when the deadline arrives in two weeks;  Oil climbed Friday as Saudi Arabia curtailed output from its Safaniyah offshore oil field and Russia planned to accelerate the output cuts it agreed with OPEC. Brent surged 2.6% to $US 66.25/bbl

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Latest Research

Saracen Mineral Holdings’(SAR) $60m investment into exploration in FY19 is paying off with significant intercepts at numerous deposits/prospects. The standout result was an intercept of 69m @ 4.1g/t at Karari, 400m below the current mining level. Drilling at Thunderbox A Zone, Deep South and Otto Bore also returned extensional results. Infill drilling at Whirling Dervish, including 30m @ 4.9g/t and 30M @ 3.3g/t confirmed continuity of mineralisation in the line-of-sight of decline development. While the ongoing exploration success points to tangible Reserve/Resource expansion, we believe SAR’s current share price already factors in a mine life well beyond current Reserves, particularly at Karari. However, given the momentum of the stock we upgrade to HOLD from SELL.

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Latest News

Argonaut is pleased to announce the successful $12.5 million Initial Public Offering (“IPO”) on the ASX of Stealth Global Holdings Ltd (“Stealth” or “the Company”). Stealth is a fast-growing sales and distribution group supplying safety, industrial, workplace and healthcare consumable products and customised supply solutions to business customers across the resources, engineering, transport and general industrial sectors.

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