58% Australian Fine 54.25 -1.25 straight from FMG thread, Shanghai index down 5.5% today. PMI lower than expected.
How much cash have AGO spent since they traded at 12c, I think you forgot to add that factor.
" assuming the 12cps pre-recapitalisation underlying market value is unchanged" massive incorrect assumption.
The company put itself off mining and were talking to creditors, ie management thought there was NO VALUE, so start with an assumption of 0c. Now you have added 1.6c with the recapitalization, great price for 5c.
The offer is open to the public not just AGO shareholders, that has to tell you something by itself, they expect it to be undersubscribed and for good reason.
I hate seeing people throw money away. Why on Earth would you not at least wait until closer to the 13th, ie closing day at the very least. IO could be below $50 by then with AGO having no hope of trading again, buying now is so senseless as there wont be a return check.
AGO Price at posting:
12.0¢ Sentiment: Sell Disclosure: Not Held
