The tone of both companies with regard to the JOA has changed...

The tone of both companies with regard to the JOA has changed considerably.

The specific comments in a recent AJM ann about it being a joint decision to proceed with mining, indicated a bit of bullying going on by AGO. Then the AGO presentation I thought was very light on information about Mt Webber and the 12mtpa target, it seemed to highlight the fact that it will be presented to the board for review, more questioning than a formality IMO, with more focus given to the 10mtpa target.

If AGO decide to play hardball and put Mt Webber on the back burner, changing their Horizon 1 targets at this late stage, what will that do to their SP?

Does linking up to FMG's existing rail affect the Mt Webber project in anyway negatively?

Can they produce from anywhere else in the same time frame to meet their targets?

AJM is in a spot, whereby they're reliant now on AGO funding the entire CAPEX, unless they themselves want to do a cap raise. Maybe that's why both AGO & AJM have been hammered down, because both are headed for cap raising, AGO to link up with FMG rail & AJM to fund their share of Mt Webber?

Either way, I think both are good buys at these levels, with little longterm downside threat.

Do your own research, nothing I offer is advice.