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4.5¢ atlas iron limited

Iron ore price, page-2935

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Hingdog

23,663 Posts.

1497

26/07/17

17:01

Post #: 26095413
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Originally posted by Samboy69 ↑

yay IO price is rising,

too bad its irrelevant for AGO whose management obsessively sell IO at hedges of 50-55 at 100% and ignore the spot price hence why AGO is now being ignored when IO price goes up.

FMG up 5% but AGO is at 0% despite all the ridiculous ramping on here.

They have $101M cash at bank so why cant they pay $20M into the debt and reduce it now?
They have a higher spot price so why cant they ignore the hedge book for 1 month and sell at 60-66 instead of 56 and make an extra 3.1MT x $10AUD = $31M extra cashflow.

ho hum AGO doesnt need an extra $31M per month as it would have to pay down the debt or reduce equity by share buybacks with it!

They WONT and they are told not to.

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Ignore the forward contracts they have sold? Isn't the word "contract" the operative one here?

AGO Price at posting: 1.8¢ Sentiment: None Disclosure: Not Held
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Add AGO (ASX) to my watchlist