Agreed. They have been hamstrung in terms of what they can do because of the debt. They have 2 lithium revenue streams coming online shortly (one of those will be passive income and it could be quite significant) and the PLS announcement indicates that DSO demand is massive at the moment from China.
Interest costs will reduce a bit as well going forward. They also doubled port holdings at the end of the quarter, which reduced their cash levels. Much of this will be realised during the quarter. Given for much of the quarter iron ore was in the low 60s, it wasn't a bad result.
CD progressed as well during the quarter. This will improve economies of scale once this is online. Don't forget all the other iron ore tenements ready to go that just need some type of deal to get it to port in a more economical way. CLiff did say that the PLS deal would not be the last of its kind for AGO.
We also have Ridley, which is our X factor.
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- Ann: December 2017 Quarterly Activities Report
Ann: December 2017 Quarterly Activities Report, page-36
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