Mutiny Gold and Doray Minerals to Merge
Argonaut has acted as financial advisor to Mutiny Gold Limited (ASX: MYG) (“Mutiny”) on the proposed merger with Doray Minerals Limited (ASX: DRM) (“Doray) to form a leading mid-tier, high-grade Western Australian gold company with substantial growth prospects which is expected to fill a growing investment void in the ASX gold sector and provide an attractive investment proposition for existing and new shareholders.
U.S. stocks pushed higher Thursday, as a rebound in oil prices sparked gains in energy stocks. The Dow Jones Industrial Average gained 33 points, or 0.2%, to 17,719. The S&P 500 advanced 4 points, or 0.2%, to 2,053.More >
Troy Resources (TRY) delivered 21koz Au (32koz Au Eq) @ AISC US$1,160/oz (co-product basis) v Argonaut forecast 21koz @ A$1,036/oz (by-product basis). With production at Casposo delivering high grades / margin, Karouni rapidly advancing and an undemanding market cap of ~$120m, the stock remains a key pick in the gold space. A key feature of the stock is margin expansion, with near term margins driven by high grades from Casposo (8.0g/t Au Eq) and the high grade Coruja open pit (16koz @ 5.8g/t) at Andorinhas. In the medium term, TRY’s margin will expand further due to the coming of age of Karouni, with first production earmarked for end of FY15 (AISC US$602/oz).More >