everyone enjoying the action??, page-16

600ML

Yes this market is hard to read and the moves that AGO makes are sometimes particularly undecipherable. When it goes down I get out or hedge, then I can buy back in when an up move becomes apparent. Doesn't always work of course due to .... the stupid market!

Its fairly predictable though that AGO will rise when the overall market does, and the IO price does and when the shorters take a break ahead of imminent news .. and these are the current circumstances.

Whether it goes on with this move to old highs or beyond is the question and Hottin could be right that we will see it lower again in the future. What it needs is a game-changer like the rail deal or following on from that a JV for mine development that locks in future production growth.

H