Argonaut welcomes Ian Dorrington

Argonaut is pleased to announce the appointment of Ian Dorrington as a Director, Corporate Stockbroking in our Securities Team with effect from Wednesday 23 September 2015. Ian joins Argonaut following a 25 year career with DJ Carmichael during which time he spent 11 years on the Board, with four of those years as Managing Director. 


Morning Notes

U.S. stocks closed higher on Wednesday as commodity prices were in focus.

Oil prices rose on Wednesday morning but then pared those gains after the release of a handful of reports on U.S. supply and global demand.

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Latest Research

Western Areas (WSA) has deferred $32.6m of FY16 capital expenditure in light of prevailing low nickel prices. Spending on sustaining capex, exploration, the mill enhancement project and Cosmos development have been rationalised. Production and cash cost guidance remains unchanged. Consolidated cash at 30 September was estimated at $60m.

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