AGO will be OK
Just needs everyone of us holders to just take a deep breath and let the fundamentals play out.
Iron Ore price will go up and down
Its a demand supply commodity
AGO will still be making money at $60, all they need to do is the following
A. Pay off debt as fast as they can
B. Use some of the quarterly profits to buy back shares.
C. Fully fund CD from profits
D. Make sure the company builds up as much product reserves for when iron ore prices returns to highs.
Its all that simple as right now the AGO share price is wholely trading on sentiment and no fundamentals what so ever.
Some times the best thing to do is to just do nothing.
My opinion and I am in the red big time with AGO, but the market and wealth creating is all about 99% sentiment and 1% fundamentals.
Rule No.1: Never lose money.
Rule No.2: Never forget rule No.1.
Happy Easter to all and god bless all share holders. We have all taken a great beating here and some of us are black and blue from this last month of a blood bath. But we get back up and dust ourselves off and catch the 5 cent bus again.
DYOR as this is all my own opinion
AGO Price at posting:
1.8¢ Sentiment: Buy Disclosure: Held
