Australian Uranium Conference Perth

Argonaut is proud to be the Major Sponsor of the Tenth Annual Australian Uranium Conference being held at the Hyatt Regency Hotel in Perth from 16 to 17 July 2014. The Australian Uranium Conference is now the leading event in Australia for the Uranium sector. Due to industry demand and some geological and operational similarities, the conference has incorporated Rare Earths into the programme with great success.


Morning Notes

The Standard & Poor’s 500 Index extended a record as Facebook Inc. (FB) rallied on higher revenue, and growth in global manufacturing offset a drop in home sales. Caterpillar Inc. sank on a disappointing forecast, leaving the Dow Jones Industrial Average little changed. The S&P 500 added 0.1% to a record 1,988.0. The Dow average slipped 2.8 points, or less than 0.1%, to 17,083.8.

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Latest Research

Atlas Iron (AGO) released June Q results with record sales of 3.1wmt including 2.8Mt Standard Fines and 0.3Mt Value Fines (previously announced). Revenue for the Q was impacted by the compounding effects of declining Fe prices (Platts 62% index down 15%) and increasing quality discounts (increasing by 9.6%). Unaudited EBITDA was guided at $240-260m for FY14 and total capex was estimated at $372m. Net Debt at June 30 was ~37m.

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