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Septa, further to my comments, both RRL and AGO are not about to...

  1. snout
    3,857 Posts.
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    02/07/14
    14:37
    Post #: 13600982
    Septa, further to my comments, both RRL and AGO are not about to go broke. But we did experience a confluence of negative circumstances. RRL had a once in 100 year flood of their main pit so work was suspended whilst de-watering went on. They are back to mining now. Meanwhile AGO's profitability suffered significantly as the iron price went on a big slide from $120/130 to $80. Ore price is now recovering, currently low $90s and the futures markets are indicating more robust prices for iron ore in the near future.
    MLD Price at posting: $1.94 Sentiment: Hold Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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