News: AGO Atlas Iron updates on debt restructuring, page-42

Full compliance with the debt covenants
Cant these downrampers read reports?
AGO was supposed to go under 1-2 years ago but it never happened.

The debt for equity swap will wipe out this covenant term by agreement of the creditors...just like FMG did in 2013 followed by a 1 bagger in weeks.
With MBN a 27 bagger followed a 98.5% debt for equity swap in July 2014.

Dont you get it
The balance sheet & expense sheet are way better and the business survives.
dilution is covered by a balance sheet net increase but the prospects of any future default are wiped out if the cash is retained.

As for Goldman Sachs terrible forecasts
They forecast GP to $1000 and instead it went up 3 times to 1400 then 1200 then 1250 recently!
They are the worst predicters of commodities i ever saw.
If they say IOP is going lower expect the chinese to smash the shorters and take it higher.
Dont trust Goldman Sachs. Their CEO has cancer, their analysts are paid for opinions, they are part of the political establishment and funded Ted Cruz $1M in secret and likely paid him another $5M extra.

Id rather watch the chinese data as more reliable than them.
China needs IO and manufacturing LT.
They are building massive rail, airports and bridges from Nairobi to Manzhouli to Belgrade to Astana to the Spratlys to Kinshasa. Massive 3030 building projects in Africa alone and doubled its pledges from 2012! Where is all that IO coming from?
Look below


http://mgafrica.com/article/2015-09...s-chinas-27-biggest-active-projects-in-africa

"EARLIER this year, Chinese state news agency Xinhua published that the country has so far in Africa completed some 1,046 projects, built railways to a total of 2,233 kilometres, and laid 3,350 km of highways.  According to the largest public database of Chinese development finance in Africa, researchers claim that there are currently 3,030 active projects in Africa. China is clearly racing to deliver on commitments made in 2012, when then-president Hu Jintao offered $20 billion in loans to African countries, doubling its previous pledge. But with the country fighting to stay on its high-growth lane, this year’s Forum on China–Africa Cooperation that takes place in December in South Africa will be closely watched for how bad the malaise is."