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

Major U.S. stock indexes fell Monday, weighed down by losses in shares of technology companies. Stocks that have helped lead the market higher this year, including Facebook and several chip-makers, were among the day's biggest decliners. Some traders also attributed Monday's slide in major U.S. stock indexes to comments from North Korea's foreign minister, who said Monday that President Donald Trump's latest comments on the country constituted a declaration of war. An exchange of threats between North Korea and the U.S. has pressured major indexes and sent assets considered havens like gold and government bonds higher a few times over the summer.

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Latest Research

The strong performance in 4Q17 sets TPS up well for FY18. The nature of both Monitoring and Guarding segments provides for a high degree of revenue consistency and we anticipate a baseload of ~$14m revenue in FY18. We expect further acquisitive growth in the Monitoring business to boost this number and, given the leverage in the underutilised control rooms, have a positive impact on margin. We upgrade to a speculative buy (prior hold) recommendation on a revised blended valuation of $0.040 (prior $0.030).

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Latest News

Argonaut acting as Lead Manager has successfully raised A$38 million for Metro Mining Limited (ASX: MMI) (“Metro”) via a two tranche placement to Australian and international institutional investors at an issue price of A$0.135 per share. The placement was heavily oversubscribed with significant demand generated from existing and new institutional investors.

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