Happy to see IO up and AGO on better breakeven. . Time to average ..topping up no doubt .AGO will make some cash.bad thing is the options they gave away when they diluted the company .most will be exercised at 5cents .. but otherwise happy its almost over.
Key news to remember .AGO has lousy grade getting 80% of market price IO
And lots of options to be exercised around 5/7.5 cents raising cash to pay off the last 80mil debt. And fund the other new mine..
Output is 3,5mil per quarter..
Hate trump but have to say him building roads help IO .expect IO to hit 100 in feb 2017
.have been holding this since april 2015 @12.5cents happy to average down my sp price now ..theres a bit of hope ..
Remember costs for AGO are a bit complicated to calculate based on june 2015 agreement where they give profits for services.. i guess the bond holders are happy its all looking fine now ..they will cash in a lot. Id say sp at 5cents in feb .with 60mil to 70 cash generated in the dec quarter.add 24 mil from Q1 .AGO to post its first profit since loooooooong time ago...o
April sp 8 to 10 cents
If IO hits 100 even with that grade @70 cents/usd .the should make 50 a tonne.160/180 mil a quarter .
Q3+Q4#=400 mill NBIT
After tax .gvt tarriffs owing and overheads .AGO should post 150/185mil profit after tax ..heavy dilution to give roughly 1.3-1.6 eps at 10x # sp of 13 to 16 cents by sept 2017
Trump will rush to build roads to secure his promise and try to get a 2nd term if he delivers ..so IO
On the up for now .. but i doubt AGO will have an easy year in 2018.
Anyway at least we can enjoy the ride from 2cent to 12 .. 500% even after my average i have a smile now .. lucky bugger i am.
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