"What goes up must come down and vice versa" - nice if you really wan't to believe it. AGO is relying on a weak A$ (hopefully weaker - that might well come true) and a better Fe price going forward since their low grade product is of course cheaper than the 62% Fe product. They are pretty well hedged until Sept at good prices but what happens in Sept??
China is not in good shape and they are running into significant problems with "dumping" of excess production offshore (could be in for import tarrifs in USA and elsewhere) - makes a mockery of Free Trade Agreements which only serve the interests of politicians vote seeking.
All will be revealed
AGO Price at posting:
12.0¢ Sentiment: Sell Disclosure: Not Held