Gerry - I don't know about your debt equity argument. More debt the better. Sure there might be some hedging requirement but at $20000 per ton that is not a really bad thing. You wouldn't be telling me that you would rather get 9% pa (typical corporate rate) on your money then hold AGM shares.
I'd be happy to pay you 9% pa on the 35c value of your shares today and ride my luck with whatever gains or falls they could make in the market.
By the way - i've just sat through an election here in Singapore that laughs at your alter ego Joh when it comes to your nic GERRYMANDER.
The ruling party here that is headed up bu Lee Kwan Yu's son Lee Sien Loong gets 2/3 of the vote but ends up with 82 of 84 seats in the parliament.
It's easy to deride that as being unfair but it's probably a good thing as the opposition here are an absolute joke and couldn't organise a f... in a brothel.
Anyway, looking forward to the week ahead. Should be lots of interesting things in the market as usual.
Chinkiat
AGM Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
