External broker reports(aggregated public sources), Argonaut

Argonaut

External broker reports(aggregated public sources)

Argonaut’s research focuses on Metals & Mining, Energy, Agribusiness, Businesses and Contractors that service the natural resource sector and select Industrial companies and where warranted, the research team covers special situations. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<div><div><div><ul><li>High-grade oxide ore with three under-utilised mills within trucking distance plus a JV partner with deep pockets.</li><li>Optionality abounds for Musgrave Minerals. With a Resource approaching critical mass for a development decision Musgrave is in an enviable position; go it alone or develop in partnership.</li><li>Either scenario will provide significant upside for shareholders, and there is plenty of search-space for further high-grade ounces. </li></ul></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

High-grade oxide ore with three under-utilised mills within trucking distance plus a JV partner with deep pockets.Optionality abounds for Musgrave Minerals. With a Resource approaching critical mass for a development decision Musgrave is in an enviable position; go it alone or develop in partnership.Either scenario will provide significant upside for shareholders, and there is plenty of search-space for further high-grade ounces. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Materials Analyst/Strategist, Janus Analysis

Gaius King

Materials Analyst/Strategist

Janus Analysis

<ul>
<li>Pure iron ore plays outperforming diversified producers, for now...</li>
<li><strong>America wakes up to REE embargo threat, LYC critical for future supply plans</strong></li>
<li><strong>Nickel supply (primary and secondary) in structural deficit, fifth year in a row</strong></li>
<li>LME Nickel stocks declining rapidly</li>
<li><strong>Graphite Sector a SELL (both explorers and producers)</strong></li>
<li>Reiterate BUY on <a href="https://www.smartkarma.com/entities/gold-road-resources-ltd" target="_blank" data-smartkarma-citation="entities:6698:1" rel="noopener">Gold Road Resources (GOR AU)</a>
</li>
<li>Current Offer on <a href="https://www.smartkarma.com/entities/azumah-resources-ltd" target="_blank" data-smartkarma-citation="entities:5124:1" rel="noopener">Azumah Resources (AZM AU)</a> likely to fail</li>
<li>
<a href="https://www.smartkarma.com/entities/bhp-group-ltd" target="_blank" data-smartkarma-citation="entities:147:1" rel="noopener">Bhp Billiton (BHP AU)</a>, <a href="https://www.smartkarma.com/entities/fortescue-metals-group-ltd" target="_blank" data-smartkarma-citation="entities:41:1" rel="noopener">Fortescue Metals (FMG AU)</a>, <a href="https://www.smartkarma.com/entities/lynas-corp-ltd" target="_blank" data-smartkarma-citation="entities:20374:1" rel="noopener">Lynas Corp Ltd (LYC AU)</a>, <a href="https://www.smartkarma.com/entities/syrah-resources-ltd" target="_blank" data-smartkarma-citation="entities:1978:1" rel="noopener">Syrah Resources (SYR AU)</a>, <a href="https://www.smartkarma.com/entities/walkabout-resources-ltd" target="_blank" data-smartkarma-citation="entities:16753:1" rel="noopener">Walkabout Resources (WKT AU)</a>, <a href="https://www.smartkarma.com/entities/gold-road-resources-ltd" target="_blank" data-smartkarma-citation="entities:6698:1" rel="noopener">Gold Road Resources (GOR AU)</a>, <a href="https://www.smartkarma.com/entities/pensana-metals-ltd" target="_blank" data-smartkarma-citation="entities:2106:1" rel="noopener">Pensana Metals (PM8 AU)</a>, <a href="https://www.smartkarma.com/entities/peel-mining-ltd" target="_blank" data-smartkarma-citation="entities:4111:1" rel="noopener">Peel Mining Ltd (PEX AU)</a>, <a href="https://www.smartkarma.com/entities/azumah-resources-ltd" target="_blank" data-smartkarma-citation="entities:5124:1" rel="noopener">Azumah Resources (AZM AU)</a>, <a href="https://www.smartkarma.com/entities/st-george-mining-ltd" target="_blank" data-smartkarma-citation="entities:18642:1" rel="noopener">St George Mining (SGQ AU)</a>, <a href="https://www.smartkarma.com/entities/apollo-consolidated-ltd" target="_blank" data-smartkarma-citation="entities:10021:1" rel="noopener">Apollo Consolidated (AOP AU)</a>, <a href="https://www.smartkarma.com/entities/chesser-resources-ltd" target="_blank" data-smartkarma-citation="entities:1365:1" rel="noopener">Chesser Resources (CHZ AU)</a>, <a href="https://www.smartkarma.com/entities/musgrave-minerals-ltd" target="_blank" data-smartkarma-citation="entities:2564:1" rel="noopener">Musgrave Minerals (MGV AU)</a>, <a href="https://www.smartkarma.com/entities/stavely-minerals-ltd" target="_blank" data-smartkarma-citation="entities:20213:1" rel="noopener">Stavely Minerals (SVY AU)</a>, <a href="https://www.smartkarma.com/entities/classic-minerals-ltd" target="_blank" data-smartkarma-citation="entities:18945:1" rel="noopener">Classic Minerals (CLZ AU)</a>, <a href="https://www.smartkarma.com/entities/frontier-resources-ltd" target="_blank" data-smartkarma-citation="entities:3173:1" rel="noopener">Frontier Resources (FNT AU)</a>, <a href="https://www.smartkarma.com/entities/venus-metals-corp-ltd" target="_blank" data-smartkarma-citation="entities:10142:1" rel="noopener">Venus Metals Corp (VMC AU)</a>, <a href="https://www.smartkarma.com/entities/poseidon-nickel-ltd" target="_blank" data-smartkarma-citation="entities:12760:1" rel="noopener">Poseidon Nickel (POS AU)</a>, <a href="https://www.smartkarma.com/entities/alkane-resources-ltd" target="_blank" data-smartkarma-citation="entities:19111:1" rel="noopener">Alkane Resources (ALK AU)</a>, <a href="https://www.smartkarma.com/entities/rox-resources-ltd" target="_blank" data-smartkarma-citation="entities:18355:1" rel="noopener">Rox Resources (RXL AU)</a>, <a href="https://www.smartkarma.com/entities/bellevue-gold-ltd" target="_blank" data-smartkarma-citation="entities:2297:1" rel="noopener">Bellevue Gold (BGL AU)</a>, <a href="https://www.smartkarma.com/entities/calidus-resources-ltd" target="_blank" data-smartkarma-citation="entities:16023:1" rel="noopener">Calidus Resources (CAI AU)</a>, <a href="https://www.smartkarma.com/entities/bowen-coking-coal-ltd" target="_blank" data-smartkarma-citation="entities:17492:1" rel="noopener">Bowen Coking Coal (BCB AU)</a>, <a href="https://www.smartkarma.com/entities/hot-chili-ltd" target="_blank" data-smartkarma-citation="entities:11138:1" rel="noopener">Hot Chili Ltd (HCH AU)</a>, <a href="https://www.smartkarma.com/entities/ora-banda-mining-ltd" target="_blank" data-smartkarma-citation="entities:2970:1" rel="noopener">Ora Banda Mining (OBM AU)</a>, <a href="https://www.smartkarma.com/entities/blackstone-minerals-ltd" target="_blank" data-smartkarma-citation="entities:28181:1" rel="noopener">Blackstone Minerals Ltd (BSX AU)</a>, <a href="https://www.smartkarma.com/entities/spectrum-metals-ltd" target="_blank" data-smartkarma-citation="entities:2237:1" rel="noopener">Spectrum Metals (SPX AU)</a>, <a href="https://www.smartkarma.com/entities/alt-resources-ltd" target="_blank" data-smartkarma-citation="entities:28297:1" rel="noopener">ALT Resources Ltd (ARS AU)</a>, <a href="https://www.smartkarma.com/entities/mincor-resources-nl" target="_blank" data-smartkarma-citation="entities:6731:1" rel="noopener">Mincor Resources Nl (MCR AU)</a>, <a href="https://www.smartkarma.com/entities/great-western-exploration-limited" target="_blank" data-smartkarma-citation="entities:19901:1" rel="noopener">Great Western Exploration (GTE AU)</a>, <a href="https://www.smartkarma.com/entities/exore-resources-ltd" target="_blank" data-smartkarma-citation="entities:16357:1" rel="noopener">Exore Resources (ERX AU)</a>, <a href="https://www.smartkarma.com/entities/cora-gold-ltd" target="_blank" data-smartkarma-citation="entities:27988:1" rel="noopener">Cora Gold Ltd (CORA LN)</a>, <a href="https://www.smartkarma.com/entities/zyl-ltd" target="_blank" data-smartkarma-citation="entities:2971:1" rel="noopener">Hawkstone Mining (HWK AU)</a>, <a href="https://www.smartkarma.com/entities/bardoc-gold-ltd" target="_blank" data-smartkarma-citation="entities:4833:1" rel="noopener">Bardoc Gold (BDC AU)</a>, <a href="https://www.smartkarma.com/entities/apollo-consolidated-ltd" target="_blank" data-smartkarma-citation="entities:10021:1" rel="noopener">Apollo Consolidated (AOP AU)</a>, <a href="https://www.smartkarma.com/entities/carnaby-resources-ltd" target="_blank" data-smartkarma-citation="entities:4197:1" rel="noopener">Carnaby Resources (CNB AU)</a>, <a href="https://www.smartkarma.com/entities/hammer-metals-ltd" target="_blank" data-smartkarma-citation="entities:15503:1" rel="noopener">Hammer Metals (HMX AU)</a>, <a href="https://www.smartkarma.com/entities/tietto-minerals-ltd" target="_blank" data-smartkarma-citation="entities:28006:1" rel="noopener">Tietto Minerals Ltd (TIE AU)</a>, <a href="https://www.smartkarma.com/entities/atrum-coal-nl" target="_blank" data-smartkarma-citation="entities:9553:1" rel="noopener">Atrum Coal Nl (ATU AU)</a>, <a href="https://www.smartkarma.com/entities/de-grey-mining-ltd" target="_blank" data-smartkarma-citation="entities:6192:1" rel="noopener">De Grey Mining (DEG AU)</a> <a href="https://www.smartkarma.com/entities/azumah-resources-ltd" target="_blank" data-smartkarma-citation="entities:5124:1" rel="noopener"></a>
</li>
</ul>


Pure iron ore plays outperforming diversified producers, for now...
America wakes up to REE embargo threat, LYC critical for future supply plans
Nickel supply (primary and secondary) in structural deficit, fifth year in a row
LME Nickel stocks declining rapidly
Graphite Sector a SELL (both explorers and producers)
Reiterate BUY on Gold Road Resources (GOR AU)

Current Offer on Azumah Resources (AZM AU) likely to fail

Bhp Billiton (BHP AU), Fortescue Metals (FMG AU), Lynas Corp Ltd (LYC AU), Syrah Resources (SYR AU), Walkabout Resources (WKT AU), Gold Road Resources (GOR AU), Pensana Metals (PM8 AU), Peel Mining Ltd (PEX AU), Azumah Resources (AZM AU), St George Mining (SGQ AU), Apollo Consolidated (AOP AU), Chesser Resources (CHZ AU), Musgrave Minerals (MGV AU), Stavely Minerals (SVY AU), Classic Minerals (CLZ AU), Frontier Resources (FNT AU), Venus Metals Corp (VMC AU), Poseidon Nickel (POS AU), Alkane Resources (ALK AU), Rox Resources (RXL AU), Bellevue Gold (BGL AU), Calidus Resources (CAI AU), Bowen Coking Coal (BCB AU), Hot Chili Ltd (HCH AU), Ora Banda Mining (OBM AU), Blackstone Minerals Ltd (BSX AU), Spectrum Metals (SPX AU), ALT Resources Ltd (ARS AU), Mincor Resources Nl (MCR AU), Great Western Exploration (GTE AU), Exore Resources (ERX AU), Cora Gold Ltd (CORA LN), Hawkstone Mining (HWK AU), Bardoc Gold (BDC AU), Apollo Consolidated (AOP AU), Carnaby Resources (CNB AU), Hammer Metals (HMX AU), Tietto Minerals Ltd (TIE AU), Atrum Coal Nl (ATU AU), De Grey Mining (DEG AU) 



New J. Hutton – Exploration Report (Weeks Ending 04/10/19)

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<ul>
<li>Uranium Price has fallen 7% over the past two months</li>
<li>Actively looking for uranium short positions</li>
<li>Provide summarised watch list</li>
<li>Wisdom from Samuel Longhorne Clemens</li>
<li>
<a href="https://www.smartkarma.com/entities/27844" target="_blank" data-smartkarma-citation="entities:27844:1">Yellow Cake PLC (YCA LN)</a>, <a href="https://www.smartkarma.com/entities/17078" target="_blank" data-smartkarma-citation="entities:17078:1">Berkeley Energy (BKY AU)</a>, <a href="https://www.smartkarma.com/entities/25364" target="_blank" data-smartkarma-citation="entities:25364:1">Cameco Corp (CCO CN)</a>, <a href="https://www.smartkarma.com/entities/27734" target="_blank" data-smartkarma-citation="entities:27734:1">Kazatomprom Natsionalnaya At (KZAP KZ)</a>, <a href="https://www.smartkarma.com/entities/28004" target="_blank" data-smartkarma-citation="entities:28004:1">Jangada Mines PLC (JAN LN)</a>, <a href="https://www.smartkarma.com/entities/28005" target="_blank" data-smartkarma-citation="entities:28005:1">Europa Metals Ltd (EUZ LN)</a>, <a href="https://www.smartkarma.com/entities/10708" target="_blank" data-smartkarma-citation="entities:10708:1">Buxton Resources (BUX AU)</a>, <a href="https://www.smartkarma.com/entities/2564" target="_blank" data-smartkarma-citation="entities:2564:1">Musgrave Minerals (MGV AU)</a>, <a href="https://www.smartkarma.com/entities/18292" target="_blank" data-smartkarma-citation="entities:18292:1">Myanmar Metals (MYL AU)</a>, <a href="https://www.smartkarma.com/entities/13112" target="_blank" data-smartkarma-citation="entities:13112:1">Archer Exploration (AXE AU)</a>, <a href="https://www.smartkarma.com/entities/15927" target="_blank" data-smartkarma-citation="entities:15927:1">Canyon Resources (CAY AU)</a>, <a href="https://www.smartkarma.com/entities/4293" target="_blank" data-smartkarma-citation="entities:4293:1">Catalyst Metals (CYL AU)</a>, <a href="https://www.smartkarma.com/entities/14712" target="_blank" data-smartkarma-citation="entities:14712:1">Core Exploration (CXO AU)</a>, Exore Resources (ASX: ERX), <a href="https://www.smartkarma.com/entities/20213" target="_blank" data-smartkarma-citation="entities:20213:1">Stavely Minerals (SVY AU)</a>, <a href="https://www.smartkarma.com/entities/28006" target="_blank" data-smartkarma-citation="entities:28006:1">Tietto Minerals Ltd (TIE AU)</a>, <a href="https://www.smartkarma.com/entities/28007" target="_blank" data-smartkarma-citation="entities:28007:1">Horizonte Minerals PLC (HZM LN)</a>, Bellevue Gold (ASX: BGL), <a href="https://www.smartkarma.com/entities/14443" target="_blank" data-smartkarma-citation="entities:14443:1">Allegiance Coal (AHQ AU)</a>, First Au (ASX: FAU), <a href="https://www.smartkarma.com/entities/3189" target="_blank" data-smartkarma-citation="entities:3189:1">Base Resources (BSE AU)</a>, <a href="https://www.smartkarma.com/entities/19210" target="_blank" data-smartkarma-citation="entities:19210:1">Breaker Resources Nl (BRB AU)</a>  </li>
</ul>


Uranium Price has fallen 7% over the past two months
Actively looking for uranium short positions
Provide summarised watch list
Wisdom from Samuel Longhorne Clemens

Yellow Cake PLC (YCA LN), Berkeley Energy (BKY AU), Cameco Corp (CCO CN), Kazatomprom Natsionalnaya At (KZAP KZ), Jangada Mines PLC (JAN LN), Europa Metals Ltd (EUZ LN), Buxton Resources (BUX AU), Musgrave Minerals (MGV AU), Myanmar Metals (MYL AU), Archer Exploration (AXE AU), Canyon Resources (CAY AU), Catalyst Metals (CYL AU), Core Exploration (CXO AU), Exore Resources (ASX: ERX), Stavely Minerals (SVY AU), Tietto Minerals Ltd (TIE AU), Horizonte Minerals PLC (HZM LN), Bellevue Gold (ASX: BGL), Allegiance Coal (AHQ AU), First Au (ASX: FAU), Base Resources (BSE AU), Breaker Resources Nl (BRB AU)  


New J Hutton – Exploration Report (Weeks Ending 22/03/19)

Australia

Musgrave Minerals Ltd. explores for minerals in Australia.  The Company operates on the Musgrave Province in South Australia.

Price Gauge
52-week Range	0.00 - 0.00
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Musgrave Minerals (MGV AU)

Musgrave Minerals (MGV) - Sweet Spot

High-grade oxide ore with three under-utilised mills within trucking distance plus a JV partner with deep pockets. Optionality abounds for Musgrave...

Argonaut

New J. Hutton – Exploration Report (Weeks Ending 04/10/19)

Pure iron ore plays outperforming diversified producers, for now... America wakes up to REE embargo threat, LYC critical for future supply...

Gaius King

New J Hutton – Exploration Report (Weeks Ending 22/03/19)

Uranium Price has fallen 7% over the past two months Actively looking for uranium short positions Provide summarised watch list Wisdom from Samuel...

Boost Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)