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 rose broadly Tuesday. U.S. stocks have notched record highs this summer without substantial improvement in earnings growth, largely on expectations that interest rates will remain lower for longer. Investors are waiting for further clues on that in a speech to be given by Federal Reserve Chairwoman Janet Yellen on Friday at a conference in Jackson Hole, Wyo. Her comments could provide fresh direction on the timing of the next rate rise and steer the dollar, which has fallen against major currencies this month. Mark Watkins, regional investment manager at U.S. Bank Wealth Management, said he expects little change to come from those meetings. He has been cautiously buying stocks in companies that specialize in home improvement and consumer services.

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Latest Research

The impact of heavy rainfall, mechanical breakdowns and issues processing clay ores has seen TRY’s production costs increase at Karouni. At the same time, we see available cash dwindling as debt repayments and commitments to a loss making hedge book limits free cash generation in the September quarter. TRY trades on an undemanding p/NAV of 0.8x (vs sector average 1.3x), the cheapest in the gold sector in our view. We see potential for a short term turnaround as rains abate and if working capital issues can be addressed.

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Latest News

Argonaut, as Co-Manager, has been successful in raising A$6.47 million for St George Mining Limited (ASX: SGQ) (“St George”) to both Australian and overseas institutional and sophisticated investors of 43,165,470 new ordinary shares at an issue price of A$0.15 per share. Proceeds from the capital raising will enable St George to continue exploration activities at the Mt Alexander Project

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