As a consequence of the change at the helm, I remind myself that the resource economics maketh the man, not vice-versa! PM has done a fine job but has made a personal call.
In my guess, PM hasn't run from AGS, just found some fresh air that doesn't have the same relationships and "strings" per AGS. Besides, the yellow has a different bent and exposure to different countries (inc Qld/NT!!) so that must be a challenge. And also the chance to move to Perth :) is a bonus.
Fundamentals rule. The people move but the resource in SA will stay until it will be extracted. Fantastic grades, plenty of volume, proactive local Govt, defined export ex-Adelaide - this all adds up to monumental success (despite the 75% BS factor). At the end of the day, greed rules and the paydirt is not paying while in the ground.
No doubt PM's courtship has taken some months not days or weeks... :) I am not concerned at all.
However, sometimes I kick myself.
AGS Price at posting:
55.0¢ Sentiment: Hold Disclosure: Held
