Finished at 7% up
http://finance.sina.com.cn/futures/quotes/I1705.shtml
But, the amount of sheet that gets posted on here, including this thread.... O M G !
Some of you only seem to have pink glasses on and on the other side there is anton with his stories following every move AGO makes but has no own opinion and keeps changing his mind every 5 minutes.
AGO might be undervalued, fair enough, but there have been and there will be issues again if the IO goes down again.
The fact that they could not really sustain during the downturn with 3 mines between 100 and 220km away from the port doesn't make things easy looking into the future. The current approved mining lease at Corunna Downs is 240km away from the port and the infrastructure required to have "decent" access to Marble Bar alone will cost a fortune to put the project into reality and considering that the amount of ore on this lease alone isn't really that big, which puts the whole project in limbo hence why they haven't commenced anything yet. In my opinion 60Mt does justify a big investment in infrastructure to lower production costs when your mine will run out 3 years later...
On the upside Atlas has also quiet a few exploration leases in the area as well as lithium tenements surrounding them which might be another option later on to utilise the infrastructure that needs to be built, but sending Quads into Hedland over this distance won't be viable if IO turns the other way and it will at some stage... AGO knows, everyone knows.
I'd wish they had more 'smaller' leases on the west of the Great Northern Hwy so they could jump on board with the Bala Bala Harbour project, built a bloody rail and join up there mines to a rail network and survive the next downturn.
Putting all this together is the reason why AGO can't jump any higher as it currently is...
