Seems the financial gods have decided to leave on the life support but have reserved the right to hit the off switch.
Unless the AUD gets down to below USD 0.60c (which some have predicted) or iron ore gets back to above USD $70, AGO will be out of operation. The decision makers are basically tenament parking AGO.
My SMSF has been decimated by AGO, I feel more sorry for the staff whose families depend on AGO paying their wages.
The introduction of spot pricing for iron ore has contributed to the demise of AGO, it also contributed to its stock market darling status that it no longer enjoys. It is amazing how quickly the tide turns.
A sad day for the Australian mining industry.
AGO Price at posting:
12.0¢ Sentiment: None Disclosure: Held
