Argonaut acted as Financial Advisor to Hanking Australia Investment Pty Ltd on the successful $37 million takeover of Primary Gold Limited in 2018. Hanking Australia Investment Pty Ltd is the Australian subsidiary of the Hong Kong-listed China Hanking Holdings Limited, a mine development and exploration company with assets in Australia and China. The Takeover of Primary Gold Limited is part of Hanking Australia Investment’s strategy to manage long-life gold exploration and mining assets. The Takeover Offer was structured adequately and was well received by existing Primary shareholders.

In 2013, Hanking Australia acquired the gold-producing Southern Cross Operation in Western Australia. After selling this asset in 2017, Hanking Australia Investment Pty Ltd then acquired Primary Gold Limited in 2018. Primary Gold Limited is an Australian-based gold company with Mineral Resources from its Mount Bundy Gold Project and Coolgardie Gold Project in Western Australia.