Argonaut’s Best Undeveloped Projects – The Top 10

Argonaut has completed its annual review of the best undeveloped metals and mining projects owned by ASX listed companies. Companies that were identified with the best undeveloped projects in our previous editions outperformed their respective peer groups and relevant indices, with many being acquired, financed or partnered. A notable outcome of our analysis is that we have been unable to identify a project meeting our criteria that resides in an ASX major or mid-tier, with all the projects in aspiring juniors or small-cap companies (none of which are producers). Argonaut has applied the following selection criteria to identify the best undeveloped projects, which include:


Morning Notes

U.S. stocks headed for fresh highs Thursday, extending gains after their best day since the presidential election. Investors have been buying stocks and selling bonds, betting that the Trump administration will usher in tax cuts, deregulation and fiscal stimulus, which they believe will support growth and inflation in the world's largest economy. All three indexes were on track to close at records. "The markets have been on a sugar high," said Kent Engelke, managing director at Capitol Securities Management. Shares of financial companies continued their postelection rally, leading gains in the S&P 500.

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Latest Research

Metro Mining (MMI) has received acceptances from 57.3% of Gulf Alumina shareholders regarding it offer to acquire all outstanding shares. In addition to the 39% already owned, MMI now controls ~96% and can progress to compulsory acquisition of Gulf. Gulf is a public unlisted Company that owns the Skardon River Bauxite Project which adjoins MMI’s Bauxite Hills Project in the Cape York Peninsula, far north Queensland. This project consolidation will double MMI’s reserves and result in synergies of up to $200m. Argonaut sees this is a highly accretive transaction which will extend mine life, enable higher production and expedite final permitting. SPEC BUY maintained with a $0.35 target price.

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