Hi Guys, there are some excellent and highly informed posts...

Hi Guys,
there are some excellent and highly informed posts going here. its great. I know sentiment rules and all that but please indulge me in pointing out some obvious considerations (note I was buying at $3 and $2.90 the ultimately I sold out of a heap of AGO at $2.50-$2.60 range when I gave into the downward trend. I still hold a position of about 8% of portfolio and I am a an iron ore bull from 2005..)

having been to China to holiday and study, i am a firm believer in the economic managers in China. the pace they can do things is staggering. A mate of mine works for one of the other IO Majors in a bean counter role and says costs in WA are out of control. Supply side response is exaggerated as it has been since 2008 when it was claimed there would be a glut by 2012. rubbish. BUT cost of entry is massive for new projects... meanwhile over at AGO they have $350m + in cash which brings their Market Cap back to $1.4B or less. Port access remains very important with tonnes shipped breaking a new record the other day from Port Hedland. did I mention no debt and massive cash flows? did I mention multiple rail discussion opportunities? World class tenements and management.

You can't keep good value like this down at these levels for long... I think anyone considering selling should consider the equation. I think anyone topping up will be rewarded... not a ramp and not telling anyone anything on this thread they dont already know but its darkest before dawn... I am not a bottom picker as I said recently but i beleive the weight of risk is to the upside.. there is no way I would have the courage to short this stock at this time with fingers at the trigger in China, the US and maybe even Europe to stimulate the world...

It seems to me that each day goes by, the world is stabilising and we get less bad news. I am willing to bet a very nice bottle of wine that AGO will be higher than $2.50 by xmas if it hasn't been taken over by another major Pilbara player. At a $2.5 b T/O price, this is a steal and could be funded from free cash flow from one of the other majors... the port capacity is worth it nearly on its own.

just some thoughts from a reflective state of mind