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Argonaut Congratulates Gascoyne on a Highly Successful Capital Raising

Argonaut Congratulates Gascoyne on a Highly Successful Capital Raising.
Argonaut acted as Joint Lead Manager to successfully raise A$21.5 million for Gascoyne Resources Limited (ASX:GCY) (“Gascoyne” or “the Company”).

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Morning Notes

Rising technology and energy shares pushed the S&P 500 higher Monday ahead of a series of central bank meetings around the world this week. Stock gains were scattered, with six of the S&P 500's 11 sectors recently higher for the day. Shares of oil-and-gas companies led advances in the broad index, rallying as U.S. crude oil prices climbed, while consumer staples stocks fell 0.3% in the S&P 500, among the worst-performing sectors in the index. Meanwhile, rising technology shares lifted the Nasdaq past other major indexes, with Apple jumping 1.9%, Nvidia up 1% and Facebook adding 0.5%.

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Latest Research

The latest two acquisitions from the existing monitoring client base means TPS has converted close on 3,000 reseller lines to direct lines so far this half. Boosting revenue, with little associated cost impact, adds to the good run-rate evident in the last two quarters. We expect TPS to continue with this strategy, leveraging the underutilised control rooms and positively impacting margin. We maintain our speculative buy recommendation on a blended valuation of $0.28 (this unchanged on prior after taking into account the 1 for 7 share consolidation ratified at the recent AGM).

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