Iron ore price, page-738

FWIW, here's my take on what's going on. AGO was going broke not that long ago due to the low iron ore price. Debt holders decided rather than force the company under, they took shares for their debt - the deal valued their shares at 2.7c.

So selling at between 2c and 2.5c is like all their christmas' come at once, they're losing just 15% - 20% when not long ago they were staring down the barrel of 100% minus whatever scraps of the company they could flog off.

Why are they selling now when it's so obvious it's going higher? Well, it certainly ain't guaranteed that the iron ore price will hold up, and with 6B shares to dump, they ain't waiting to find out. Remember, these are people that make their money by loaning money, not speculating on the share market.