Argonaut | The Natural Choice in Resources

US stocks fell overnight amid weak economic data and reports that Donald Trump will declare a national emergency, despite another government shutdown being averted. The Dow Jones slipped 0.4% to 25,439 while the S&P 500 fell 0.3% to 2,746;  The Senate passed a spending bill to avert another government shutdown, after the White House said President Donald Trump will sign the measure and declare a national emergency to secure additional funds for the barrier;  President Donald Trump is considering extending the deadline for imposition of tariff increases on Chinese imports by 60 days, as little progress was made between the two countries during trade talks in Beijing;  Gold surged overnight following data that US retail sales fell the most in nine years, a key signal of softening economic momentum, boosting the metal’s safe haven demand. Gold rose 0.1% to $US 1,312.3/oz.

Myanmar Metals (MYL) released a resource upgrade for the Bawdwin polymetallic deposit in Myanmar (51% MYL). Total resources increased by 15% to 94.2Mt @ 3.4oz/t Ag, 6.3% Zn+Pb and 0.2% Cu. This update included a significant confidence upgrade to the high-grade core (45.0Mt @ 5.7oz/t Ag, 10.7% Zn+Pb and 0.3% Cu) with 40% now in the Indicated category. Importantly, newly discovered mineralisation in the Yegon Ridge and Meingtha Gap zones was not incorporated in this resource and add significant upside for future updates. A PFS on the Bawdwin deposit is due for completion in early April and will likely be accompanied by a Maiden Reserve. MYL recently strengthened its Board with the appointment of former Mineral Resources (MIN) CFO Bruce Goulds. We see Mr Gould’ as a valuable addition which should contribute an ethos of innovation which was key to MIN’s success. SPEC BUY recommendation maintained with a $0.20 target price.

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.