I've been watching AGO for little while. I think AGO is in a perhaps top 10 low cost producer bracket globally, which puts it in a favourable position.
The variable is of course the price of iron ore, more specially the AUD$/t. Obviously the Chinese loaded up early this year, and the price has since been retracing for ~3 months now. Nothing abnormal.
Asia is going to be the new global powerhouse come 2030, and its going to need a HUGE amount of steel/commodities to get it there.
I'm simply waiting for the iron price to form a stable, confirmed bottom. Then I'll join the AGO bandwago.
All IMO
AGO Price at posting:
1.4¢ Sentiment: Hold Disclosure: Not Held
