Sorry can't copy and paste due 2009 copyright law and not yet posted on AGS website - but read the Feb 25th 2009 Aegis report this morning (on shareanalysis.com.au) that was commissioned by ags but is independently researched.
Few items/assumptions that caught my eye (selective perception of course) included:
1. Val of .59c (researcher "conservative in assumptions used in modelling")
2. An assumption made that an equity raising is likely as "unsure if ags has sufficient funds" to meet it 25% contributions
3. Resulting cash flows from production could accelerate the development of Maldon
Difficult times atm but happy with what I read knowing how analysts are carefully neutral on almost everything these days. Best wishes all ags holders.
4. Noticed also a discrepancy between some senior management share holdings vis a vis the last top 20 posted on the website (assume that is an error in the report).
aegis feb 25 report
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