Poseidon Nickel (POS) - In The Swing

June 16, 2021

Good apparent continuity of nickel sulphide mineralisation across the initial Golden Swan target zone in the early going. Nearby potential the next test. 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,...

Austal (ASB) - Earnings Downgrade

June 16, 2021

Recent negative news provides near-term headwinds.  However, we see value despite more conservative numbers that build in a “valley” in medium-term earnings, and beyond this think global tensions and risks will drive naval spend to ASB’s longer-term benefit. To access the full report please log in under the Client...

New Research - St George Mining (SGQ) - Broadening Horizons

June 16, 2021

The search for economic nickel mineralisation continues at the Mt Alexander project. The modest scale Stricklands deposit may be monetised through a low upfront cost mining and toll treatment arrangement. A maiden campaign of exploration drilling is now also underway in the recently granted Paterson Province tenure. To access the...

Sector Research - The Emergence Of Green Nickel

June 11, 2021

We expect the burgeoning electric vehicle market to propel nickel price growth upward over the medium term. The increasingly important ESG thematic will benefit nickel-sulphide miners who can produce nickel products with lower carbon footprints compared to laterite operators. Nickel pricing is recovering from a sharp sell-off in March....

OreCorp (ORR) - Tanzania Back Open For Business

June 11, 2021

OreCorp holds one of the best undeveloped projects in Africa. When developed it will be a substantial cash generator and an important part of Tanzania’s economic development. While Nyanzaga’s fiscal terms remain unclear we take comfort in recent Tanzanian government statements and bureaucratic advancements. Key operational parameters will be...

Argonaut Coverage Update

June 11, 2021

Following a review, 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...

GR Engineering (GNG) - Riding The Wave

June 3, 2021

GNG is a major beneficiary of a wave of locked-in and potential pipeline work, and recently confirmed margins have not been impacted by a tight WA labour market.  The Company pays a generous dividend which we expect to be underpinned by strong earnings for at least another couple of...

Salt Lake Potash (SO4) - Placement And Update

May 25, 2021

We downgrade to HOLD (prior BUY) only partly due to large cash flow model misses during ramp-up requiring another dilutionary equity raise.  The bigger reason is because of the impact of higher ongoing costs (not simply a timing issue) on our valuation.  To access the full report please log...

Perenti (PRN) - Earnings Downgrade

May 14, 2021

PRN has lowered its earnings outlook due to the ongoing impact of COVID, A$ strength, and wage pressure in Australia.  We have significantly downgraded our earnings forecasts but see deep value for a patient investor looking beyond near-term headwinds.   To access the full report please log in under the Client...