Good call Malvern, AGO is a great stock pick, with IO pushing US$140/T and AUD getting close to dropping below US$0.90. The US economy picking up and with Tapering you should see the AUD drop even further. You should also see IO demand pick up with Chinese economy picking up, pushing the prices even higher (Not to mention the Freezing conditions in China affecting IO production). So all in all I would say that AGO is looking very good, especially with the recent announcement that approximately 60 per cent of Atlas' production is contracted for the 2014 calendar year, with further contracts for up to an additional 20 per cent of production nearing completion and the remaining production to be retained for sale into the spot market.
AGO Price at posting:
$1.21 Sentiment: Buy Disclosure: Held