hi Mitkye, I like your thinking here question is for me has the...

hi Mitkye, I like your thinking here question is for me has the IO price hit the floor ? or is their a little more down side and hence AGO might have further downside to around the 15 cents ?

For me a few things need to happen, (fairly obvious ones) AUD exchange rate needs to reduce, IO price increase , some of the more marginal China IO produces need to go into care and maintenace programs.

Also expand the customer base (India is a good start, as most indian ports can not accomodate a cape size vessel eg 160k +/- 10% IOcargo ) and AGO 's Utah Pointt is for panamax, post-panamax and baby capes a cargo range 60-125k of IO which is perfect for Indian ports.

Most important is for Ken and the boys get on the front foot and sell the good story of AGO.