Hi everyone,We could see soon the end of this crazy selling and...

Hi everyone,

We could see soon the end of this crazy selling and supressing of the the shareprice of AGO.
Plenty of games being played with the shareprice by some big boys and we have become a bargain at todays shareprice imho.

Time to go back up as this company is piling up the cash in its bank account as we speak.

The following article will show those holders, who start to get nervous that all is fine and that the chinese are still need our iron ore badly....

And remember todays low shareprice could be very soon a thing of the past, so make the most of it......

And read this article carefully and you will realise that the chinese have very low inventories of iron ore and that analysts expect the japanese to become major consumers in the very near future due to the rebuilding of their country.

Good luck

jojo

Iron Ore-Prices rise for first time in a month as buyers return
Fri Mar 18, 2011 6:56am GMT
Print | Single Page[-] Text [+]
* Falling ore stockpiles spur Chinese buying * Forward swaps extend gains

(Adds comments, Japan data) By Manolo Serapio Jr SINGAPORE, March 18 (Reuters) - Spot iron ore prices rose
for the first time in a month and offers held firm on Friday, as
Chinese steel mills returned to the market to replenish
dwindling stockpiles. Prices for the steelmaking raw material had fallen 15
percent since hitting record highs near $200 a tonne in
mid-February, as rising raw material costs and slow steel demand
turned off top buyer China. But some Chinese mills are looking at increasing steel
exports to the region as production at quake-hit Japan could
slow and domestic demand may spike when reconstruction starts.
Japan was Asia's biggest steel exporter last year.
"We had always thought that the dearth of Chinese buying in
recent weeks would not last -- steel production rates continue
to record new highs and iron ore stocks can only sustain
production for perhaps a month or two," Commonwealth Bank of
Australia said in a note. China's daily crude steel output rose 0.5 percent from
January to a record-high of 1.94 million tonnes in February.
Inventories of imported iron ore at major Chinese ports fell
to 79.59 million tonnes this week after climbing above 81
million tonnes towards the end of February. Iron ore indexes, based on spot transactions in China and
which global miners use in determining quarterly contract
prices, rose on Thursday, the first uptick since they touched
record peaks in mid-February. The Steel Index's 62 percent benchmark .IO62-CNI=SI rose
30 cents to $163.90 a tonne, including freight, and Platts' 62
percent index IODBZ00-PLT jumped $1.50 to $166.50. Metal Bulletin's 62 percent gauge .IO62-CNO=MB edged up 60
cents to $163.49. Those gains may be sustained on Friday, as offers from
sellers remained firm, with Indian 63.5 percent iron ore quoted
at $170-$172 a tonne, said Chinese consultancy Mysteel. "Sentiment is improving and there are more inquiries,"
Mysteel added.
LOW IRON ORE INVENTORY "Iron ore buyers have come back because a lot of Chinese
steel mills are very, very low on iron ore inventory and they
now need to buy to sustain themselves," said an iron ore trader
in Shanghai. "But will they come to buy and disappear again which would
make the price slide further, or will they stay for sometime
which will help prices rebound? That is still an unanswered
question." Further gains in iron ore forward swap prices on Thursday
suggested confidence is slowly returning to the market. The Singapore Exchange-cleared April contract
climbed 3 percent to $157.80 a tonne, May rose 2
percent to $154.80 and June gained 1.8 percent to
$152.40. Before Thursday's rise, iron ore prices had weakened further
after a massive earthquake and tsunami hit Japan last week on
expectations Japan's demand for the raw material would drop with
disruptions to steel production because of rolling power
outages. But most traders said there had been no diversion of
Japan-bound iron ore cargoes so far and analysts expect prices
to rise when Japan begins rebuilding. "On the contrary I've heard that Japan is trying to get more
iron ore now for use during the rebuilding phase. I heard
they're buying from Indonesia," said another Shanghai trader. Japanese steel mills, which import around 11 million tonnes
of iron ore a month, normally buy the material via long-term
contracts with global miners such as Vale , Rio Tinto
and BHP Billiton . Data on Friday showed Japan's crude steel output rose 5.7
percent in February from a year ago, although analysts expect
production to fall this month.

(Editing by Ramthan Hussain)
? Thomson Reuters 2011 All rights reserved



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