mdc - It would be a bit presumptuous and maybe slightly arrogant considering WRK hasn't voted yet.
My only explanation for the sideways movement over the past couple of months is the market isn't sure about the long term IO price, or maybe they are waiting for the pilbara railway access court hearings conclude? - which hopefully will be before xmas. Otherwise AGO would already be up around analyst forecasts which start around the $2.30 range I think.
Ridley's offer/s will be annouced this qtr (and I think will be lucrative) and I think the WRK merger will go ahead.... these two things will be the catalyst for a longer term upswing for AGO.... and if the rail hearings turn in favour of more open access from BHP and RIO.... well then it will be should be a very rosey AGO xmas.
AGO Price at posting:
$1.70 Sentiment: Buy Disclosure: Held
