shorters paradise - next support level for ago, page-32

UBS released a report today with $1.40 price target. There realised selling price was approx. $120. Breakeven $85 - $90. Net cash around $150 or $0.15/share. With production around 5M MT profit will be $150M. At $1, Horizon 2 is not valued. Therefore free option. Obviously the shorters are trying to scare schroders into selling. There is no chance of bank covenents being breached as AGO could repay in full outstanding credit facilities. This is extremely cheap. Only downside is if Iron ore price goes $90 - $100, profit then reduced to $50M and you could see share price around $0.50 - $0.75. Buy and put in your top draw!!!!!!!!!