News

Argonaut Congratulates Metro Mining on Transformational Capital Raising

Argonaut acting as Lead Manager has successfully raised A$38 million for Metro Mining Limited (ASX: MMI) (“Metro”) via a two tranche placement to Australian and international institutional investors at an issue price of A$0.135 per share. The placement was heavily oversubscribed with significant demand generated from existing and new institutional investors.

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Morning Notes

Major U.S. stock indexes fell Monday, weighed down by losses in shares of technology companies. Stocks that have helped lead the market higher this year, including Facebook and several chip-makers, were among the day's biggest decliners. Some traders also attributed Monday's slide in major U.S. stock indexes to comments from North Korea's foreign minister, who said Monday that President Donald Trump's latest comments on the country constituted a declaration of war. An exchange of threats between North Korea and the U.S. has pressured major indexes and sent assets considered havens like gold and government bonds higher a few times over the summer.

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Latest Research

Effective January 2018, GRB has been awarded an exclusive beer and cider supply contract with the new Perth Stadium, a deal which will ensure exceptional brand and product exposure. Meeting strategic goals requires quality product and sound marketing; in our view ongoing awards and significant new deals tick these boxes and reduce execution risk. We maintain a buy call on a revised valuation of $0.078 (prior $0.066).

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