Comments to think CE is floating around HotCopper baiting AGO holders is bizarre... he does have $50m+ so you’d be thinking pretty highly of yourself if you thought he was chatting to you... But then again the AGO group always were a different breed - 4 months on, same talk. Time well spent hey hoggy?
A takeover is the only feasible option for AGO unfortunately. The debt holders who inherited the company during the big downturn just wanted their money back and killed a lot of value for shareholders. Deny the takeover and good luck getting ur money back.
FMG announcing today they going to pump out a big high grade project, BHP doing south flank, Vale churning out the high grade Brazil ore, samarco getting back into action post disaster and Rio kicking off their Pilbara expansions and Africa... holding out for a better deal is playing with trouble. The high capex Ridley won’t see the light of day, ore reserves at Webber is 5 years, MIN are after the port capacity and lithium tenements... they have the leverage and don’t need AGO, attempting to hold out for a better deal is playing with trouble.
The only ‘contender’ for the assets to bump up the bid was FMG who announced they are spending $1.3bn today - don’t think they’ll have anything left in the coffers to bid on AGO. Nonetheless good luck to all. You’ve never listened to me previously so don’t expect that to happen now
