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

U.S. stocks rallied Thursday as the U.K. voted in a historic referendum to decide whether the country should leave the European Union. Financial markets have followed the vote closely, with sterling, government bonds and stocks around the world moving with opinion polls. While recent polls have suggested a tight race, the betting markets have been more confident the "remain" campaign will win. Thursday's broad market rally, portfolio managers said, seems to be a sign that investors have increasingly placed their trust in bookmakers to price in Brexit odds. Financial stocks in the S&P 500 -- the worst-performing sector this year – jumped 1.6%, leading gains in the index.

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Latest Research

Argonaut recently visited Independence Group’s (IGO) Nova development site. The project remains on track for first concentrate production in December 2016. All major construction components are either on site or in the country. The exploration drill drive on the 2030RL is now in place enabling underground grade control and exploration drilling. The Tropicana Long Island Study is due for release early Q3 CY16 and has potential to significantly extend the assets mine life. Argonaut maintains a BUY recommendation with a $3.40 target price.

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Latest News

Argonaut as Lead Manager has been successful in raising of A$2.03 million for Marindi Metals Limited (ASX: MZN) (“Marindi”) to existing shareholders and new sophisticated and professional investors of 203,000,000 new ordinary shares at an issue price of A$0.01 per share. The company has also launched a Shareholder Purchase Plan (“SPP”) to raise an additional $1M.

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