A welcome corporate move, but gold production and cash flow in the March 2022 quarter remained below target levels. We recommend holding Gold Road shares in anticipation of improving cash generation through the remainder of 2022 and into 2023. To access the full report please log in under the Client Area at the bottom ofRead more
Solid performance so far this year points to astute management of the challenges posed by supply chains, labour, and cost pressures. As these issues are ongoing our forecasts remain conservative. Despite this CLX looks attractively priced and we retain a BUY call. To access the full report please log in under the Client Area atRead more
A review by GR Engineering has concluded that the Ravensthorpe Gold Project should be able to generate gold dore and gold-copper-silver concentrate using an industry standard gravity-float-CIL processing route. This has given us the comfort to develop a mining model as a basis for valuation. Using the existing 674koz Au Resource estimate and assumed increasesRead more
Argonaut has updated a map outlining select projects in non-producing companies with Resource estimates >1Moz Au, or potential to achieve >1Moz in the near term. To access the full report please log in under the Client Area at the bottom of this page. Argonaut’s Client Area allows you to view delayed share prices, accessRead more
We were waiting on the last of the infill results before making a call either way on Tietto. Last week’s capital raise after ~three months of hearing the “Fully funded to production” catchcry has in our view supported our concerns that not all is as ‘in the bag’ as publicly portrayed. Our concerns remain onRead more
Imminent easing of COVID restrictions in WA and the Magners distribution pick-up are two recent positive news items. Longer term our BUY call is underpinned by good strategy execution to date, increasing brand recognition, and growth potential To access the full report please log in under the Client Area at the bottom of this page. Read more
Missing out on the Philippine’s OPV contract is unexpected and disappointing. Risk climbs as the order book falls, however ASB’s use of the cash generated from existing mature programmes to build capability to take on future work has been well founded and should reap rewards in time. Our focus remains on the US where weRead more
The apparent hurdles set by the market for De Grey are reasonably low and we think Mallina will do better than it is being given credit for, mainly through further exploration success. To access the full report please log in under the Client Area at the bottom of this page. Argonaut’s Client Area allowsRead more
Current contracts and enquiry levels support performance this calendar year that builds on last year’s momentum. Ongoing portfolio management enhances PPC’s long-term growth platform, although the balance sheet impact bears watching in the near-term. To access the full report please log in under the Client Area at the bottom of this page. Argonaut’s ClientRead more
We expect the cash and debt-funded acquisition of WBHO Infrastructure’s WA business will prove to be a good strategic fit and financially compelling. On an initial take and numbers, our valuation climbs to $0.90 (prior $0.75), further underpinning a BUY call. To access the full report please log in under the Client Area at theRead more
