It looks like AGO where trying to hold out with a view that the IO price would recover. Given their breakeven price is above the current IO price and has been for sometime, it is prudent to review the viability of the operations in the short term. In the Longer term AGO need to the IO price to recover in order to be sustainable.
I just hope they are not tempted to sell themselves short to the lowest bidder. There would be quite a few potential investors looking to snap up a number of distressed assets at the bottom of this IO cycle. If you can pick the bottom of the cycle and investment at that point then you will make your fortune.
It looks like AGO where trying to hold out with a view that the...
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