Trading day running commentary, page-4182

New research from Argonaut dated Sep 11, 2023

Notable assumption are....

CTM sells down 30% of project for $300-$400m to go towards CTM's 70% of the capex requirements
Significant inbound interest from EV OEM's, battery manufacturers, other larger corporates wanting "in" on our low CO2 project.
Any shortfall in capital requirements could be made up by partner providing a debt facility to CTM.
New valuation is $1.60 down from $2.02, which includes a discount for "DFS Study Maturity". So when DFS is published, the 20% discount will be added back to valuation which goes up to $1.97
Nickel sulphate price $7.94/lb ($17,500/t)

Given Argonauts support for CTM since year dot, you'd think there could be some merit in them pushing this line (that Jag will be brought to production by CTM, albeit in a diluted form.)


Argonaut Equities Research | Nickel for Dimes



Outside of this research note, it seems as though the Enviro Permit and Prelim Licence has been put back to Q4