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 Dow Jones Industrial Average fell intraday as trade tensions between the U.S. and China put the blue-chip index in danger of posting its longest losing streak since March 2017. The Dow industrials declined 196 points, or 0.8%, to 24462 in recent trading, on pace for its eighth consecutive session of losses. The S&P 500 lost 0.6%, and the tech-heavy Nasdaq Composite shed 0.7%. The impact of escalating trade tensions became clearer after German auto maker Daimler issued an unexpected profit warning late Wednesday, saying Chinese retaliatory import duties on vehicles built in the U.S. would crimp sales and earnings. The announcement sent shares of auto makers around the world down, including Ford and General Motors, and gave investors a glimpse of how President Donald Trump's push to enact protectionist trade policies could affect corporate profits. While many analysts expect the world's two largest economies to pull back from a full-blown trade war, some investors believe these periodic blowups will become more common. The US gold price was down 0.1% to 1,266.90/oz.

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Latest Research

DCG has pared back FY18 guidance, confirmed FY19 revenue expectations, announced a NZ$125m contract extension in New Zealand, and provided a general update across its businesses. While our FY18 numbers have been pulled back, we remain upbeat on DCG’s medium-term prospects across east coast infrastructure and WA resource projects, as well as the increasing exposure to New Zealand. We have reduced longer term margins slightly and our blended valuation is now $1.35 (prior $1.40). Our positive macro view and the valuation upside continues to support a BUY recommendation.

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Latest News

Argonaut Congratulates Gage Roads Brewing on the Highly Successful Acquisition of Matso's Broome Brewery and Equity Raising.  Argonaut acted as Financial Advisor to Gage Roads for the $16 million acquisition of Matso’s Broome Brewery, the iconic West Australian flavoured beer brand owned by the Peirson-Jones family. Argonaut provided key negotiation and transaction execution support and has helped deliver a strategic and highly accretive benefit to Gage Roads shareholders.

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