We reiterate our BUY case and argue PRN’s Underground business alone underpins the current market valuation. A turnaround in African Surface Mining may prove a swing factor. We expect rigour around capital deployment to improve risk-adjusted returns despite emerging mining sector cost pressures and potential currency risks. To access the full report please log inRead more
Success at the drill bit has resulted in additional resource ounces at GMD’s Ulysses project. We anticipate future exploration success and note that in its current state the project supports a standalone mining operation. Updated Feasibility Study due next quarter. To access the full report please log in under the Client Area at the bottomRead more
A swing nickel player getting impetus towards production. It could lead on to bigger things. 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
Xanadu Mines (XAM) has released assays for drilling at the Kharmagtai and Red Mountain Projects, Mongolia. Hole KHDDH563 at Kharmagtai has confirmed high grade bornite zone mineralisation encountered in previous hole KHDDH559B. High grade mineralisation remains open at depth and may be extended by current hole KHDDH564. Drilling at Red Mountain Project has identified veryRead more
The need for another raise is a symptom of poor planning, and lender risk aversion. It’s a new start however and a chance to build from here. 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 shareRead more
Apollo has sold its 1.2% NSR interest over the Séguéla Gold Project to Gold Royalty Corp. for $20M cash. This is a good outcome for AOP as it absolves it of any development risk. The $20M is freed up for exploration and potential development of Lake Rebecca and reduces equity dilution in our model. WeRead more
Apollo holds a 1.2% NSR interest over the Séguéla Gold Project in Côte d’Ivoire owned by TSX listed Roxgold. Recent exploration success at Séguéla has likely improved project economics resulting in a higher valuation of this royalty. Speculative buy recommendation is maintained at a valuation of $0.48 per share. To access the full report pleaseRead more
Xanadu Mines (XAM) has ridden the ups and downs of a turbulent decade for commodities. Drilling continued at Kharmagtai during the latter half of 2020 and yielded a spectacular high-grade intercept beneath Stockwork Hill. We speculate identification of deeply seated block cave mineable resources may be pivotal to the future development of Kharmagtai. To accessRead more
De Grey made geological and metallurgical ground in early 2021. Speculative buy recommendation maintained. 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
Following a review of companies covered we have dropped coverage of the companies listed below. The review considered the number of likely additions to our coverage list in the coming months. The table below summarises the changes, which are effective as at the date of this report. Prior recommendations, opinions, valuations, and target prices shouldRead more
