argonat securities price target $6.00

Argonaut Securities released a brief note on TRY and placed a target at $6 (almost 50% above todays price)

Apparently have visited Casposo and indicate the operation is achieving consitent nameplate output:

http://www.argonautlimited.com/media/files/MN_221111.pdf

I am still observing how the Argentinian political and economical situation plays out (black market exchange rate stabilised at 4.75:1). I will wait to hear what the Board and management have to say at the AGM about it and what sort of dividend is declared - proxy for director's confidence in future - to make a decision on buying back in.

Alejandro