Ann: Aurox and Atlas Agree to Merge , page-36

I'm not sure I want any shares in AGO, otherwise I'd have bought some earlier. AGO are too small to do anything with Balla Balla; they just want to port access so they can ship even higher tonnages of iron ore at a loss. This is from AGO's latest financials:

6 months to 31 Dec 2008:
Revenue: $3,561,669
Cost of sales: ($4,177,327)
Gross profit/(loss): ($615,658)

6 months to 31 Dec 2009:
Revenue: $41,747,853
Cost of sales: ($47,243,177)
Gross profit/(loss): ($5,495,324)

The more they ship, the more they lose. There seems to be something fundamentally wrong with the AGO business model which "economies of scale" can't fix.

I'm just a long-suffering AXO shareholder though, and my opinion's just a fart on the breeze.