Twiggy/FMG bought AGO at 4c/share, sold some at 4.2c, the remaining at 4.6c, total profit was around $6.7m.
Those alleged Gina brought down AGO, was non sense. AGO share price crashed, completely due to falling iron ore price and unable to serve their debt. I thought their break even price was around US$50-60/t. So when iron ore price dropped to US$39/t, they were on the verge of bankruptcy. Their share price dropped to 0.9c.
Chris/MIN made a first move, made a scrip to scrip takeover at 1.9c/share (59% premium).
FMG bought at 4c;
Gina started to buy at around 3.5c;
Gina made a bid for 4.2c/share; increased to 4.6c/share.
Gina was the highest bidder.
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