Action packed start to 2014 for Argonaut
It has been an action packed start to the year for Argonaut being involved in several raisings including Joint Lead Manager for a placement of $28 million for Troy Resources Limited (ASX/TSX: TRY); Co-Manager on a $61.2 million capital raising for Saracen Mineral Holdings Limited (ASX: SAR); Sole Lead Manager on raising $4.15 million for Mutiny Gold Limited (ASX: MYG); a $3.62 million placement for Pacifico Minerals Ltd (ASX: PMY); and Joint Lead Manager of a $4.5 million raising for Rampart Energy Limited (ASX: RTD).
U.S. stocks rose, sending the Standard & Poor’s 500 Index to an all-time high, as data showed jobless claims fell to the lowest level in three months and investors watched developments in Ukraine. The S&P 500 gained 0.2 percent to a record 1,877.0. The Dow Jones Industrial Average added 61.7 points, or 0.4 percent, to 16,421.9.More >
Argonaut anticipates Okvau to continue growing given the recent exploration success extending mineralisation towards the NE. The 1.2Moz inventory is hosted in a single, open-pittable deposit and compares favourably with peers on grade and strip ratio. Results from a metallurgical test program are slated for early June Q, and Argonaut anticipates 80-85% recoveries from a two stage process with no oxidation requirements. The Company’s prospective, but under-explored geology and ongoing drilling campaign offer opportunities for a significant gold discovery. RNS is undertaking both drilling (at Area 1) and early stage target generation work including stream and soil sampling, ensuring a pipeline of prospects and news flow in the coming months. Speculative Buy recommendation maintained.More >