My issue is that to get to 12mtpa they need to get rail. AGM presentation says 12mtpa targetting 2013.
If it takes 18months to 2years to build a rail line into Port Hedland then not sure how they can get the tonnes up from what they are doing now. Reports for public say targetting 6mtpa but if we look at the actual number currently its more like 4mtpa to 5mtpa range and thats not going to change from what I can see.
No road contract signed for a private road to be built. No sign of new trucks coming on line. I would suggest that the number we see in the next quarterly is the tonnes will see for the next 2 years at least. The cricket exposure not so sure it wasn't on free to air TV so how much brand presence did they really get and how much did it cost.
I held for many years from a low point I made a lot of $$ good luck but just think better opportunities out there I am long on BCI and think its a better option given the low market cap and tonnage being moved when compared to AGO.
Cheers Hotlegs
AGO Price at posting:
$2.67 Sentiment: None Disclosure: Not Held
