Argonaut acted as Advisor to the $47 million Acquisition Offer of Phoenix Gold Limited by Zijin Mining Group Co., Ltd. through its wholly-owned Australian subsidiary, Norton ld Fields Limited in 2015. Zijin Mining Group Co., Ltd. is a multinational gold-copper mineral resource exploration and development company based in Fujian Province, China. The Offer to take over Phoenix Gold was to increase the gold reserves of Zijin Mining, to strengthen and develop their gold project in Western Australia, and to further establish Zijin Mining as a global mining and exploration company.

Zijin Mining Group Co., Ltd. is trading in the Hong Kong Stock Exchange and the Shanghai Stock Exchange and has ranked in the top 3 domestic mining sector. Zijin Mining is invested in more than 20 multiple local and international mining projects in regions including Papa New Guinea, Congo, and Serbia. In 2015, Zijin Mining, through its Australian subsidiary, Norton ld Fields Limited, proposed an Offer to acquire Phoenix Gold Limited to expand global operations.