What croc I read on here.
6 brilliant company making announcements in a row yet some downrampers still whinging and whining like a bunch of grandmas over whats wrong.
Now we hear debt covenants not breached as outlined for months now, greater resources everywhere, AF n FMG old boys to invest in CR, CR will result in cash at bank exceeding all debt, contractors n govt agree to waive bills cut expenses for AGO, and IOP staying above $60ust to 62 and rising, well above50.0 break even level.
you downrampers still dont get it, AGO is alive and kicking goals in what can only be described as an enormous team effort from all stakeholders EXCEPT the destroyed debtholders whose puny disgraceful effort to takeover AGO for nothing like they did ANL MBN has fallen in a heap miserably.
AGO CR will be taken up oversubscribed, the SIs will take up a large chunk andit will relist with a multibagger to market value, 5c to 12c forget it, every cent of CR funding a cent less of net debt and a cent more MC And a cent more liquidity away from 0 death value.
I will take the CR as much as possible as when it relists it will rerate to its eps, per ratio n market value, cash at 8c, existing cash at $150M or total cash $310M ÷ 3B shares = 10c cps plus eps value at 11c, then add infrastructure value n resources in situ. I est true value close to $800M forget $100M at close which isless than liquidation value.
Now its got the support of everyone in WA inc the taxpayers n wa govt, its a nationalist rally cry for all. The board did a great job since TH likely looking at new junk bond debt funding like FMG last few weeks to settle the small debt issue for good.
I call for all LTHs to give flanagan and the board a standing ovation, you did it, saved the company, its 5 mines, its staff, saved hundreds of WA jobs and now introduced new shareholders to dirt cheap AGO CR shares who will profit handsomely for their cents x $180M or so.
What is more interesting to me is how large an interest will AF FMG boys take n who are the SIs connected to and with a large blocking stake will the chinese offtake buyers take a stake orwill FMG bid after reopen after their boys take a larger stake?
Dont fight the WA Govt and WA people n WA workers, you will lose, they are a freakin stubborn loyal wealthy spiteful bunch. You will lose your shorts and I hope they burn just like your poisonous treachorous two faced words.
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