May be 2 cynical in my old age but someone out there needed to cover or take a broad carry position 2day, probably both met each other headlong. Not entirely convinced of the company's response, our SP outperformed everything else, we r clueless on y but hey perhaps a 39.9% rise in AGO's SP is all down to mgmt's cost cutting, a bit of a pro Exec Mgmt CYA response. Perhaps they fear a TO bid from GLEN.LDN, good for AGO sholders. We'll see whether that is the case in months ahead. My bet is someone such as GLEN.LDN or AAL.LDN has been sniffing around for am opening position prior to a shot at a bid & picked a low trading day like Friday after NYE 2 buy up but they met short covering resistance not suspected. Otherwise 2day's trading seems enormously bullish for a midcap iron ore play in an otherwise low liquidity market. Other iron ore players did not do as well except for MGX up a mere 14%.
AGO Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
