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”).


Morning Notes

Widespread gains had the Dow Jones Industrial Average on track to close above 26000 for the first time Wednesday following a spate of bank earnings and corporate updates. The Dow industrials notched their best first 10 trading days of the year since 2003 Tuesday, helped by signs of an accelerating global economy. Some investors have said they expect a favourable economic and earnings backdrop to continue lifting stocks as the year progresses.

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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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