Don't engage ozblue, you're discussing AGO with heavily vested...

Don't engage ozblue, you're discussing AGO with heavily vested interests with some here - I suspect one or two are snr management / exec directors, promoting AGO for nothing more than personal gain ie a rock 'n'roll salary and an ongoing seat on the toot-toot gravy train.

AGO can't go bust anyday, they still have cash. But if they breach the debt covenant its goodnight Irene - and that could happen at any time. When you've got a falling $ pushing their AUD$ debt up, a falling share price causing their market cap to fall to alarming levels, and a falling iron ore price reducing asset book value its all heading one way - and that closer to an asset:debt ratio sub 2.

As for AGO having a massive resource / reserve base. Not wanting to get all JORCy on folk here because they wouldn't understand. But when I look at how much mineralised material AGO could mine and sell tomorrow and make a profit (the definition of "ore") the number looks pretty feable.

Dipped below 2.9 cents today - clearly the "big boys" don't see AGO such a screaming buy as the "little boys" make out.