News

Christmas Trading Hours 2016

Argonaut would like to take this opportunity to thank our clients for their continued support during 2016 and we wish all clients, our dedicated staff and their families a Merry Christmas and a Happy and Prosperous New Year! Our Stockbroking Division will be open for trading for clients over the holiday period and market trading hours (WST) are as follows:

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Morning Notes

U.S. stocks, the dollar and yields on government bonds fell after President Donald Trump said he would shake up the country's trade and tax policy. The Dow Jones Industrial Average fell 23 points, or 0.1%, to 19803. The S&P 500 dropped 0.2%, while the Nasdaq Composite was down less than 0.1%. In a meeting with business leaders Monday, Mr. Trump said he would cut taxes "massively" for the middle class and companies, and reduce regulations by at least 75%. He also said the U.S. would impose a "very major" border tax on companies that move overseas. Some market participants said Monday's moves reflected unease over a lack of specifics in Mr. Trump's plans. One factor in the selloff may have been the realization that it will take time for the new administration to formulate details of its economic policies, said Jason Pride, director of investment strategy at Glenmede Trust Co. Energy shares were the biggest losers in the S&P 500, falling 1.1% alongside a drop in the price of oil. U.S. crude oil settled down 0.9% at $52.75 a barrel amid worries over U.S. shale production.

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Latest Research

Dacian Gold (DCN) has delineated two new zones of shallow mineralisation proximal to the planned Jupiter open pit. These zones were identified during the extended 722-hole reconnaissance aircore/RAB drill program aimed at testing extensions to the known open pit mineralisation. These discoveries have potential to add shallow oxide resources which could significantly improve the economics of the Mt Morgans Project. Recently, DCN also announced that construction has commenced on the project following receipt of key regulatory approvals. The Company is targeting first production in Q1 CY18.

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