feasibility study, page-8

As at the last quarterly report AGO had $372 mill cash, more that enough to repay their debt.
My understanding was that the debt was organised as security against market volatility, and that they had to fully draw on it (which they did and just kept the money in the bank).
I don't view AGO as having any net debt, hence doubt that this is the cause of their current share price.
It is more likely concern over the coming supply glut and AGOs higher cost. Even so, I feel that AGO will be OK when the price settles down AND the AUD eventually starts moving down to the 85c area as it is overvalued at the moment. A sniff of US interest rates rising will send the AUD down fairly quickly I imagine and could add 10% or more to the price of IO in AUD.
AGO is a well managed company and they wont be sitting on their hands - I expect some investor friendly capital management initiatives in the near future along with a low risk approach to any developments for Horizon 2.
Sorry to discuss AGO on the IOH thread but just responding to previous post.