The current s/p is really just a reflection of the market in general. Two stocks UMC and AGO are in the same ball park. Both released JORC announcements recently: UMC 110mt of high grade DSO with RIO and BHP a stones throw away and, AGO with a 1.3bt resource and straight after announcements both take a hit. A week later UMC announces it has entered talks with Alanah Mctiernan to secure 10mt pa space at Port Hedland and AGO release a JV with FMG and both are still getting thumped. UMC was up to $2.80 before announcement and is down to an even 2 today and AGO was up to $4.14 in May and is now languishing at $2.25. To me it just makes no sense at all but if anyone can tell me what does at the moment, please drop me a line
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