Argonaut | The Natural Choice in Resources

Argonaut is a full service advisory, stockbroking & research and investment house with offices in Perth and Hong Kong. Argonaut is technically driven & focused on natural resource companies & businesses that service the metals, mining, energy and agri-business sectors. Argonaut has an established track record of creating significant wealth for clients.

Morning Notes

The US dollar fell and Treasuries rallied after November’s employment data showed that the US added fewer jobs than forecast and US wages grew less than anticipated; The boost to steel prices from US metal tariffs is beginning to fade as concerns mount on the possibility that the US – China trade war will erode economic growth; China’s monthly copper imports dropped for the first time this year as demand wanes amid the U.S -China trade dispute; Aluminium prices are expected to see limited upside next year due to growing aluminium supply from China. The Aluminium price was up 0.7% on Friday to US$ 1951/t on the LME; China’s coal imports slumped to the lowest level since Feb. 2017 as the government ordered mainland ports to cut back on the amount of overseas coal shipments received; Oil jumped after OPEC and allied crude exporters surprised traders with a larger-than-expected output reduction of 1.2 million barrels per day to be removed from market in Q1 of 2019. Brent crude gained 2.7% Friday to US$61.67/bbl

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Latest Research

Argonaut recently visited Paringa Resources’ (PNL) Poplar Grove thermal coal development project in Kentucky, US. Construction is nearing completion with the coal handling and preparation plant (CHPP) largely complete and the overland conveyer and barge loadout facility due for completion in the coming weeks. The mine decline/slope is expected to meet the coal face in 3-4 weeks and the first saleable barge lode is anticipated in mid-January. Poplar Grove will produce 2.8Mtpa and will be the first of two mines constructed within the greater Buck Creek Project, including the 3.8Mtpa Cypress mine. PNL is fortuitously commencing production in a period of record low coal inventories and uncompetitive gas prices. This should favour the signing of further sales contracts, beyond the 5.4Mt already contracted between 2019-2022. Argonaut maintains a BUY recommendation and a $0.80 target price.

Argonaut recently visited Paringa Resources’ (PNL) Poplar Grove thermal coal development project in Kentucky, US. Construction is nearing completion with the coal handling and preparation plant (CHPP) largely complete and the overland conveyer and barge loadout facility due for completion in the coming weeks. The mine decline/slope is expected to meet the coal face in 3-4 weeks and the first saleable barge lode is anticipated in mid-January. Poplar Grove will produce 2.8Mtpa and will be the first of two mines constructed within the greater Buck Creek Project, including the 3.8Mtpa Cypress mine. PNL is fortuitously commencing production in a period of record low coal inventories and uncompetitive gas prices. This should favour the signing of further sales contracts, beyond the 5.4Mt already contracted between 2019-2022. Argonaut maintains a BUY recommendation and a $0.80 target price.  

Latest News

Argonaut is pleased to announce the successful $12.5 million Initial Public Offering (“IPO”) on the ASX of Stealth Global Holdings Ltd (“Stealth” or “the Company”). Stealth is a fast-growing sales and distribution group supplying safety, industrial, workplace and healthcare consumable products and customised supply solutions to business customers across the resources, engineering, transport and general industrial sectors.

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