Well now we know why FMG didnt bid $500M at 5c for AGO.
They resolved to buyback $500M of their own shares and twiggy just bought another $15M shares on top of that. A long overdue smart move for FMG using large free cashflows as debt is under control.
FMG are ramping their own share price rather than buying up assets, if FMG was at 6.00 we may well have seen an FMG bid at 5.5c for AGO but thats a moot point now.
FMG chose itself over AGO
They chose to help Gina become the 4th force in IRON ORE!
And give up a strategic asset for some quid pro quo.
Gina should keep AGO listed, it might rerate to 20c if she did and her personal value would skyrocket.
Cmon Gina, a lady can change her mind, if its makes financial sense, just do it!
Thats why im still holding LONG & HOLDING STRONG!
AGO Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
