Tomboy,
What has the market done in the 2 days since the information came out, compared to MBN running up to 44c in 3 days???
Absolutely nothing.
Any attempt at a run up will just be met by the contractors selling millions of shares so they get something back for their agreement earlier this year. Giving 70% of the company away again was something clearly not on their agenda when they swapped debt for 70% equity. Now it has happened to them they will see the writing on the wall and sell into any rise before the creditors can.
I see you didn't mention Hartley's who had some secret document about the price AGO will go to? You do know they have downgraded Atlas to sell with a .7c price, don't you.
According to you Hartley's were the ones in the know, so why don't you believe them now??
Atlas now don't have any opportunity to develop Corruna Downs at all. The creditors do a sweep of anything over $75m every quarter, but if cash falls below $55m can pull the plug, so Atlas will now delay other payments to make sure they stay within the guidelines. That also wont make the contractors happy, so you can expect them to sell their shares for whatever they can get before the plug is pulled from under them.
A few weeks ago you were touting how great an investment AGO were at 3c+. How many shares did you buy at that time when you were ramping them??
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