The bottom is in.
The volume buying at 1.25-1.35c indicates the shorts cant take this much lower,
A beautiful flatline for 2 months, other IO stocks went lower but AGO stayed firm at 1.3 and a closing swipe buyer!
Looks like its time for the shorts/Instos to join the longs down here and run it up.
Whats the cash at bank? How much above $80M covenant limit minimum.
$105M? $110M?
Lots of cash flowed in Jan-April with IO price at $70-90UST, so what have they done with surplus cash? NOTHING!
The Board sits on a cash windfall yet wont do a share buyback to reduce large equity dilution at low share prices. Its time to do a share buyback down here, that will inspire the longs to ramp this otherwise flatline till October imho.
The bottom is in. The volume buying at 1.25-1.35c indicates the...
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