The only pattern I saw today is that this was a buy and so I added some more.
Not hard to see that an ironore company that produces right now 6 million tonnes per annum and gets revenues coming in around the $800 million at current prices is certainly NOT overvalued.
AGO which has now a Mcap around the $1.5 billion and with revenues coming in of around half its Mcap MUST be undervalued imho.
And if you keep in mind that they will be exporting in a few years 12 million tonnes of iron ore, you can probably understand that this could be the cheapest iron ore company on the ASX that currently is sellling ore and puts in on ships to China.
At todays prices 12 million tonnes of iron ore will be creating MORE revenue then AGO current Mcap!!!!
And with the current price of iron ore around the $147/tonnes and a profit of around the $100 per tonnes yu can do your OWN caluculations.
I will say it once again.... WE ARE CHEAP AS CHIPS
Good luck guys and do not shy away from buying opportunities like this as you probably look back regretting it....
Please do your own research.
good luck
jojo
AGO Price at posting:
$2.75 Sentiment: LT Buy Disclosure: Held
