I have been investing in AGO on the basis of a firm port allocation and now I find that it is not firm at all. Why has AGO been putting out presentations with this misleading information? If they are now at risk of losing some of it then they never had it in the first place.
I also find out that this threatens the whole growth strategy for the company - as it affects the viability of the rail solution needed for the growth strategy. We all know that the existing iron ore miners are not going to give AGO any free kicks, so the QR National solution is probably the only real solution. If it doesn't happen, then we have a big problem.
No wonder the shares have dropped so much in the past few days.
This needs addressing ASAP by AGO management to protect shareholder value and give some certainty going forward.
Add to My Watchlist
What is My Watchlist?