A solid 1H21 performance and strong cash conversion saw an attractive 5.0cps interim dividend declared. In coming periods, a wide range of pipeline opportunities could see GNG deliver significant revenues into FY23 if converted. BUY maintained on a $1.60 valuation (prior $1.50). To access the full report please log in under the Client Area atRead more
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SRG delivered strong interim results, improved the balance sheet position (now net cash), and upgraded EBITDA guidance to $45-47M (from $42-45M). With $750M work won YTD across segments, sectors, and geographies, momentum is strong into this half and beyond. We increase our blended valuation to $0.58 (prior $0.52) and note the improving quality of earnings. Read more
The next six trading days will see most mining services companies report interim results. We expect positive commentary around pipeline opportunities, but wary investors will be focusing on costs and margins following NRW Holding’s (NWH, Not Covered) result yesterday. COVID was blamed for NWH’s margin squeeze and it is obvious competition for skills in aRead more
We had assumed a stimulus-induced much improved 1H21 but were cautious thereafter as economic reality took hold. However, mining-led WA State performance is trending positively, and the latest data shows this reflected in a very strongly recovering property market. We upgrade our valuation to $1.30 (prior $1.10) and our recommendation to BUY (prior HOLD), believingRead more
Consistent with our recent macro note highlighting strength across a broad base in the mining sector, our current forecasts indicate declining trading multiples and increasing dividend yields for mining exposed companies in the coming years. To access the full report please log in under the Client Area at the bottom of this page. Argonaut’s ClientRead more
While Apollo continues to de-risk the Lake Rebecca project, in the project’s current state Argonaut has put together a cashflow positive mining scenario. We believe that future risk remains to the upside. Argonaut maintains a speculative buy recommendation at a valuation of $0.50 per share. To access the full report please log in under theRead more
A period of share price underperformance and firm operating results put RMS in buy territory. 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 andRead more
The mining sector has shown resilience through COVID and now strength across a broad base into 2021. The share prices of some mining service beneficiaries do not yet reflect the opportunity. This note highlights why we think they are in for a few good years. To access the full report please log in under theRead more
Centaurus Metals (CTM) has released an updated Mineral Resource Estimate (MRE) for the Company’s flagship Jaguar nickel sulphide project located in Brazil. Guidance has also been provided for exploration during the coming year. We have upgraded our project valuation models based new resource modelling and revision of operational assumptions. Our new share price target ofRead more
BOT announced positive results from its BTX 1801 Phase 2a nasal decolonisation proof of concept study. We upgrade to SPEC BUY (prior HOLD) as these results highlight CBD’s potential as a new treatment for resistant bacteria. To access the full report please log in under the Client Area at the bottom of this page. Argonaut’sRead more