Easy way of twisting words and reality exporting at a loss.....
How on earth does that has anything to do what is happening with AGO???
AGO is gearing up its exports and is adding to its reserves as a very fast speed.
They are also in the process of choosing and I say choosing a partner for their Ridley magnetite resource.
So far they have pulled it off to become an iron ore exporter in one of the most difficult environments we have encountered in the iron ore sector and for the whole stockmarket in that matter.
But a falling spot price , bot interverence and short selling all add to pressure to keep the SP down.
We will come above the $2 again but the big boys need to finish their games first.
Looking at where the bulk of the money went that created this loss is the fact that everything get directy expensed and not carried forward to future year.
Getting space at port to be able to export iron ore for years to come costed them the lionshars of this loss.
Money well invested imho if you do not have a port how can you ever dream of exporting large volumes or iron ore??
If you do not add to your reserves how can you ever increase your iron ore exports??
All of this cost money, well spend money that will bear fruit in years to come.
jojo
AGO Price at posting:
$1.64 Sentiment: LT Buy Disclosure: Held
