External broker reports(aggregated public sources), Argonaut

Argonaut

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.

External broker reports(aggregated public sources)

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.

Musgrave Minerals

Musgrave Minerals (MGV) - Sweet Spot