I have used the current weakness to top-up my holdings as the AGO story has not changed a bit imho.
AGO is one of those companies who have everything in place to grow very quickly. They have a very intense drilling program, so we get continuesly drilling results and resource/reserve upgrades.
This drilling alone will keep the share price growing as the results to date have been extremely positive and no reason to asume that this will change in the near future.
They have excess to port infrastructure to get the ore on the ships and above all enough finance to get everything up and running.
High Fe grade iron ore and close to the coast and infrastructure what else do you want???
And before I forget AGO is one of the few juniors with comparable large iron ore resources that has not struck a deal yet with an offtaker.
AGO has stated that they first want to prove up the resource and turn that into reserves,and they are doing a good job with the latest announcement stating an increase in the Pardoo resources by 36% to 14.3Mt
And by proving first up a large resource they will be able to make a better deal with any potential off-take partner.
Next to all of the above David Flanaghan has proven himself a good deal maker, just have a look at the latest new tenement deal with Chalice gold, a very large area in the Pilabara and only 120 km from Port Hedland.
As long as Atlas keeps drilling this company will keep proving up iron ore reserves and this will push the share price higher.
And next year they will be not only an explorer but also an producer.
good luck
jojo
AGO Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
