yay IO price is rising,
too bad its irrelevant for AGO whose management obsessively sell IO at hedges of 50-55 at 100% and ignore the spot price hence why AGO is now being ignored when IO price goes up.
FMG up 5% but AGO is at 0% despite all the ridiculous ramping on here.
They have $101M cash at bank so why cant they pay $20M into the debt and reduce it now?
They have a higher spot price so why cant they ignore the hedge book for 1 month and sell at 60-66 instead of 56 and make an extra 3.1MT x $10AUD = $31M extra cashflow.
ho hum AGO doesnt need an extra $31M per month as it would have to pay down the debt or reduce equity by share buybacks with it!
They WONT and they are told not to.
Iron ore price, page-2933
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