Not that this debate will account for a great deal as we cannot trade. -company told staff that the announcement would be out Tuesday, on Tuesday. -I did not speak with the company on Wednesday -Today they confirmed trading to reopen Monday with news before the weekend
This therefore suggests that (a) they were late with the Tuesday announcement and did not wish to push anything through on Wednesday/Thursday due to anticipation that resource stocks were going to (and did) get hammered. (b) there has been an unlikely turn between Tuesday and today with negotiations. (c) they are trying to negotiate with as many parties as possible as they are unhappy with the present agreement.
What is the nature of these agreements, still remains the question - a tilt from Fortescue is highly unlikely for various reasons, possibly Ago picking up a neighboring junior close to production for synergies is plausable due to their financial position, though unlikely. Ago picking up companies in early exploration would not be wise in current market environment as capital raising is challenging. I believe that we will see export contracts signed as expected at prices a little lower than hoped though dressed up in a compelling package.
Summary, I am off to the preverbial pub and will wait and see with anticipation.
This is all covered under the umbrella of IMHO.
AGO Price at posting:
$1.10 Sentiment: None Disclosure: Not Held
