obviously the analyst are thinking that with all these simpletons taking out short positions, all it would take is a small recovery in the IO price and they will start running for the hills bringing our SP along with them. Spot now at $113.90 down $2.70 yesterday.
If your betting against AGO your betting against IO. AGO is no where near the diabolical situation most of these Chinese mines are in with regard to price sensitivity. Last time the Chinese mines started shutting down IO went to $158/MT.
AGO Price at posting:
78.7¢ Sentiment: Buy Disclosure: Held