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

Troy Resources (TRY) has released updated production guidance factoring in operational delays. Whilst processing and weather conditions are improving, TRY has revised its FY17 production guidance to 85-95koz at an all-in sustaining cost of US$750-850/oz (25% downgrade against our forecast). At the same time management are focussing on resources expansion in brownfields development and optimising performance of the processing plant as weather conditions improve at Karouni. The outlook for 2HCY remains optimistic, but further operational issues cannot be ruled out. Management are clearly taking a much needed conservative stance.

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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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