For a while SXE has maintained a strong balance sheet to address organic and inorganic growth options. COVID was a disruption in pursuit of the latter, but the Trivantage acquisition metrics suggest it has been worth the wait. The up to $53.5m acquisition is highly EPS accretive given it’s largely cash funded, and dovetails withRead more
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CLX’s recent trading update highlighted revenue and margin growth for the financial year to date. We have upgraded our forecasts as a result and our valuation climbs to $1.05 (prior $0.80). We upgraded to a BUY recommendation post the commendable FY20 financial performance (see link) and maintain a view that CLX is positioned to benefitRead more
Argonaut acted as Joint Lead Manager and Joint Bookrunner to a $13 million Placement for E2 Metals Limited (ASX:E2M). The Offer was underpinned by strong support from a number of high-quality, new institutional investors based domestically and offshore. The Company has now strengthened its balance sheet to aggressively fund further drilling at the Mia goldRead more
September quarter: Perseus produced 68.8kozs in the September 2020 quarter, just above midpoint of guidance (66kozs). Group guidance for the half remained at 125-139kozs, implying 57-70kozs for the December 2020 quarter. Perseus says Edikan and Sissingué are forecast to continue to produce strongly in the December quarter. Argonaut estimates Perseus added A$27M to cash andRead more
Compared to the June 2020 quarter, gold production was down 10% and total pre hedging costs were up 5%. West African, Ramelius, Dacian, Silver Lake, Perseus and Saracen all generated net cash surpluses of better than 1.5% of their respective EVs. The December quarter looks brighter, with West African, Westgold, Dacian and Gold Road performancesRead more
Argonaut acted as Joint Lead Manager and Joint Bookrunner to a $20 million Placement for Family Zone Cyber Safety Limited (ASX:FZO). The Offer was underpinned by strong support from new and existing institutional and sophisticated investors. Funds from the Offer will be applied towards expanded engineering teams, expansion into UK and Canada, investment in buildingRead more
Undervalued on our forecasts. Corporate development and/or dividends to look forward to. 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, access Argonaut’s wealth of Research as well as create custom portfolios and set up companyRead more
MAH reiterated FY21 EBIT(A) guidance of $90-100m at the AGM. Looking further out there is a large opportunity set to add to the June ’20 work in hand of $4.5b, with the potential for awards of $2-4b in the next 12 months. Making assumptions on conversion and roll-off of this pipeline we find our medium-termRead more
GRB has delivered solid sales in 1Q21, up strongly on the same period last year, and ahead of our expectations. We have upgraded our FY21 forecast as a result. We believe the investment in a quality sales and marketing team, which has increased costs ahead of sales growth in prior periods, is now paying off. Read more