YXGC Partnership: The binding term sheet outlines a Market Study, Site selection, Scoping Study, DFS and, subject to study outcomes, the decision to construct a downstream processing plant under a 60:40 JV. EV1 will fund the JV initially, with YXGC’s initial contribution its technology and marketing expertise. The value of their expertise will be agreedRead more
Recommendation amended to hold (from sell) after a share price fall, and ahead of the Mt Gibson feasibility study results. 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 wellRead more
Never mind the AISC, on our forecasts cash flow will be solid in FY23, and even better in FY24. Priced for poor performance so we expect Ramelius to run as the Company regains market respect. To access the full report please log in under the Client Area at the bottom of this page. Argonaut’s ClientRead more
In August we visited NexGen Energy’s (NXG) Rook I Uranium Project in western Canada. Nothing beats boots on the ground to assess a project and the people involved. Permitting is advancing with the submission of the Rook I Environmental Impact Statement. We have developed an alternative development model for a lower production profile, 20-year mine,Read more
FY22 was action packed, with organic and inorganic growth boosting annual recurring revenue (ARR) more than fivefold to $77M. Revenue per user, client retention, and GP margin metrics all moved in the right direction. In FY23 eyes will be on the relative pace of revenue versus cost growth and the timing of a cashflow breakevenRead more
We expect a step-change in earnings in FY23 as venues and agency contributions add to the core brewing operations. New earnings streams will partly be applied to an increase in sales & marketing efforts, which we expect to lead to increased brand penetration on the much larger east coast market. We maintain a $1.20 valuationRead more
Mallina output plans continue to expand. Costs have been on the rise too, but gold always wins longer term. Maintain buy recommendation. 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 ResearchRead more
Very strong FY22 results were partly due to one-off factors, but management can also take credit for managing the challenges and the focus on productivity and efficiency. Backed by a strong balance sheet CLX is well positioned for future top-line growth even while Transport margins trend back to more typical levels. BUY call maintained. ToRead more
Quiet achiever SXE delivered strong FY22 results, albeit as expected following the recent business update. The exposure to broad sectors and geographies provides opportunity to replace the order book run-off and the diversity to iron out the cyclicality within individual sectors. Guidance indicates further growth in FY23. We maintain a positive view on theRead more
As demonstrated by the recent US Coast Guard (USCG) contract win, we expect the investment in steel and sustainment capability to be rewarded. Large contracts will not dovetail exactly, and margins will fluctuate depending on programme maturity, but we believe ASB to be well positioned with sound strategic assets. To access the full report pleaseRead more
