Spoke to Hartley a moment ago, deal is way oversubscribed.
In the case of over subscription Hartley will favour sophisticated investors, then exisiting shareholders of ago then brokers trying to engineer a good deal for their clients.
The split hasn't been finalised at Hartleys end and this would more than likely account for the suspention.
I was reading that one person stated their commsec account shows 100% loss - this is a result of suspended from official quotation and is meaningless.
Reading few stating that an issue price of 1.40 would therefore drag the value far down. Highly untrue. Mining operations once started operate in positive cash flow (most of the time); in order to get to a positive cash flow, start up costs have to be paid to unlock the value. In a highly contrived analogy it is similar to a sports car - you can have the greatest aston martin sitting in the shed costing half a million dollars, though without a relatively small cost say only 60 dollar for fuel, the car will not move and cannot unlock its potential. The 120 million by Hartleys will allow the company to 'fuel' their operations and unlock mine potential.
Good luck to holders
AGO Price at posting:
$1.70 Sentiment: Buy Disclosure: Held
