To all the posters that get on here complaining about management of AGS not telling us what they are doing, may I suggest you printout the AGS Legal proceedings update (http://www.allianceresources.com.au/IRM/Company/ShowPage.aspx?CPID=1362&EID=71975327) and blue tack it to your computer screen.
AGS are endeavouring via the legal system to get back the 75% of Four Mile that the feel Heathgate/Quaser (H/Q) conning them into signing over.
They obviously have a legal opinion telling them they have a strong case. I am not a lawyer, nor for that matter a QC that specialises in this area, so even if I was given a copy of his/her opinion, my thoughts would be irrelevant.
H/Q submitted a NTMA for Four Mile (AGS 25%: H/Q 75%) which “Significantly disadvantaged” AGS. H/Q did not change this NTMA to address AGS concerns, forcing AGS to go to the courts to force them to. It took a few years, but surprise surprise, when it came time for the trial and cross examination of affidavit providers and any subpoenaed witnesses, H/Q decided not to proceed.
Personally I feel the Deceptive and Misleading case (Federal Court of AustraliaVID551/2010) will end up going the same way.
AGS is a long term hold until the court case is over, not a short/medium term hold stock.
Those very clever computer soft ware programmers who wrote the programs for the algorithmic trading know a lot more about how you trade than you do yourself. Have a look at the Top 20, all the big algorithmic traders are there, with there shareholdings never the same every time a new Top 20 comes out. To save yourself the angst of giving them your money, send a cheque for a few grand to your favourite charity every time you are just about to hit the short term buy button, it will have the same effect on your bank balance and a better outcome.
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