Argonaut served as Financial Advisor to the $4.39 million Acquisition of the Riversdale Anthracite Colliery in South Africa by Acacia Coal Limited in 2016. Acacia Coal Limited is a copper-cobalt-nickel exploration and development company based in Perth. In 2016, Argonaut, as Underwriter to the Entitlements Offer, has successfully raised A$1.97 million for Acacia Coal Limited via a non-renounceable pro rata fully underwritten offer of new shares at an issue price of $0.003. The Offer was held together with a placement to sophisticated and professional investors.

Acacia Coal Limited’s assets include the Mt Windarra Project and the Mt Bruce Copper-Cobalt Projects in Western Australia. In 2020, Acacia Coal Limited was acquired by Graphene Technology Solutions through a reverse takeover and renamed Sparc Technologies Limited. Sparc Technologies Limited (ASX:SPN) is an Australian development company focused on innovative technology solutions from the properties of Graphene. Extracted from graphite, graphene is a 2-dimensional nanomaterial that can enhance product performance through the right technology.