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><div><ul><li>Infill results support the recent 4.2Moz Resource estimate.</li><li>NE Bankan has plenty of room to grow and regional upside remains an unknown.</li><li>With ten rigs on-site we anticipate the gaps in drilling to close rapidly.</li></ul></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></div></div></div>

Infill results support the recent 4.2Moz Resource estimate.NE Bankan has plenty of room to grow and regional upside remains an unknown.With ten rigs on-site we anticipate the gaps in drilling to close rapidly.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.

Predictive Discovery (PDI) - Filling the Gaps

Materials Analyst/Strategist, Janus Analysis

Gaius King

Materials Analyst/Strategist

Janus Analysis

<ul>
<li><strong>Initiate on <a href="https://www.smartkarma.com/entities/20374" target="_blank" data-smartkarma-citation="entities:20374:1">Lynas Corp Ltd (LYC AU)</a> as a BUY</strong></li>
<li>Six Chinese SOEs control ~78% of global primary REE supply</li>
<li>Est. China processes &gt;90% of global REE concentrate</li>
<li><strong>LYC is the only LREE producer outside China of any note</strong></li>
<li><strong>Current focus on environmental problems and future capex secondary concerns</strong></li>
<li>Potential mine expansion at Mt Weld</li>
<li>MOU regarding strategic processing in the US</li>
<li><strong>Future margin expansion following recent REE price rises (~33% in a week)</strong></li>
<li><strong><a href="https://www.smartkarma.com/entities/2106" target="_blank" data-smartkarma-citation="entities:2106:1">Pensana Metals (PM8 AU)</a> as a Speculative BUY</strong></li>
<li>
<a href="https://www.smartkarma.com/entities/4111" target="_blank" data-smartkarma-citation="entities:4111:1">Peel Mining Ltd (PEX AU)</a> focus on Mallee Bull a possible distraction</li>
<li>
<a href="https://www.smartkarma.com/entities/6698" target="_blank" data-smartkarma-citation="entities:6698:1">Gold Road Resources (GOR AU)</a>, <a href="https://www.smartkarma.com/entities/27844" target="_blank" data-smartkarma-citation="entities:27844:1">Yellow Cake PLC (YCA LN)</a>, Black Cat Syndicate (ASX: BC8), <a href="https://www.smartkarma.com/entities/20488" target="_blank" data-smartkarma-citation="entities:20488:1">Liontown Resources (LTR AU)</a>, <a href="https://www.smartkarma.com/entities/2971" target="_blank" data-smartkarma-citation="entities:2971:1">Hawkstone Mining (HWK 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/14062" target="_blank" data-smartkarma-citation="entities:14062:1">Troy Resources (TRY AU)</a>, <a href="https://www.smartkarma.com/entities/15518" target="_blank" data-smartkarma-citation="entities:15518:1">Australian Vanadium (AVL AU)</a>, <a href="https://www.smartkarma.com/entities/15374" target="_blank" data-smartkarma-citation="entities:15374:1">Predictive Discovery (PDI AU)</a>, <a href="https://www.smartkarma.com/entities/19897" target="_blank" data-smartkarma-citation="entities:19897:1">Vango Mining (VAN AU)</a>, Carawine Resources (ASX: CWX)</li>
</ul>


Initiate on Lynas Corp Ltd (LYC AU) as a BUY
Six Chinese SOEs control ~78% of global primary REE supply
Est. China processes &gt;90% of global REE concentrate
LYC is the only LREE producer outside China of any note
Current focus on environmental problems and future capex secondary concerns
Potential mine expansion at Mt Weld
MOU regarding strategic processing in the US
Future margin expansion following recent REE price rises (~33% in a week)
Pensana Metals (PM8 AU) as a Speculative BUY

Peel Mining Ltd (PEX AU) focus on Mallee Bull a possible distraction

Gold Road Resources (GOR AU), Yellow Cake PLC (YCA LN), Black Cat Syndicate (ASX: BC8), Liontown Resources (LTR AU), Hawkstone Mining (HWK AU), Tietto Minerals Ltd (TIE AU), Troy Resources (TRY AU), Australian Vanadium (AVL AU), Predictive Discovery (PDI AU), Vango Mining (VAN AU), Carawine Resources (ASX: CWX)


New J Hutton – Exploration Report (Weeks Ending 31/05/19)

Australia

Predictive Discovery Ltd. explores for gold in Burkina Faso in Africa, and uranium in Australia.  The Company operates in the Fada N'Gourma and Manga-Sebba greenstone belts in Burkina Faso; and in Northern Territory, Australia.

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Predictive Discovery (PDI AU)

Predictive Discovery (PDI) - Filling the Gaps

Infill results support the recent 4.2Moz Resource estimate. NE Bankan has plenty of room to grow and regional upside remains an unknown.

Argonaut

New J Hutton – Exploration Report (Weeks Ending 31/05/19)

Initiate on Lynas Corp Ltd (LYC AU) as a BUY Six Chinese SOEs control ~78% of global primary REE supply Est. China processes >90% of global REE...

Gaius King

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