Geez, only just now got to log on and read for myself this share price disaster.
Regardless of long term strength of company (and I believe there is plenty), management have yet again managed to act in the worst interests of the share price.
After watching the sp plummet on the Wednesday and Thursday, management decided to request a trading halt on the Thursday after it had fallen 14% in the first hour.
We then sat on the sideline Monday and Tuesday while most of the previous week's losses were recovered.
We finally resume trading today...only to learn that no off take agreement has been signed and we are continuing negotiations with a SMALL number of companies.
Why bother coming out of suspension at all if we still don't have the off take agreement signed? If it was worth suspending for 6 business days, then why not 10-12?
By resuming today, management have recognised the error of entering a trading halt.
AGO has fallen 80% from its high point this year, despite having a series of positive announcements available to them.
Decisions have been poorly announced time after time. There are plenty of people on HC who have recognised the timing folly of many announcements. How can management keep getting this wrong?
Media interest in the company has virtually disappeared. There is virtually no coverage today of the company's commencement to mining nor interest the past few months.
6 months ago Atlas could do no wrong. It seems that was more good luck than good management.
Atlas claimed it was in the right place at the right time. How then did it get things so wrong?
AGO Price at posting:
88.0¢ Sentiment: LT Buy Disclosure: Held
