the directors don't need to buy shares they are handsomely rewarded by salary and fees. the erosion of shareholder value they've presided over is astounding, and while you can blame shorters (or whoever) there is an inherent weakness in AGO which other small iron ore miners (BCI, MIN) are not experiencing even in this market. the board need to work out what this is and let the market know instead of preening themselves and imagining digging 46mt a year when they struggle with 8mt. no point in dreaming when the reality looks so bleak.
back to basics - is digging the stuff out the ground costing more than you are selling it for, without having to rely on clever accounting and parking costs in non-current assets ?
AGO Price at posting:
84.0¢ Sentiment: None Disclosure: Not Held
