Am a big believer in chatting with management befor committing to many funds lon g term to any company
Today did just that and chatted with Terry Quinn MD of AGU
My first impression a genuine guy, also is up there in top 20 shareholders, always a great thing.
What did i learn JORC closer to end of month, iasked if 1/2 bill maiden was looking good he replyed i would thimk so,
Top 20 own over 60% of company and most have acumulated recently
12-18 MONTHS finalised JORC
Aim 3-31/2 years to initial shipments , possibly up to 2 mill tonne a year , going out by road, similar to many other mid west producers, possible margins even by road 70-80 a tonne margin, will help fund major expansion.
Aiming for 3-5 billion tonne of lower grade ore
More than a couple opf outcrops that could produce 1-2 mill tonne of direct shipping ore on top of what they already know about.
The words that ring in my ears, we would much rather own 30% of something that can be very big than 100% of nothing
MY plan accumulate when i can
DP
yes after a phone call i am very BULLISH about AGU
DYOR take the time to ring the office number is there on web site.,
H e did not rush me and end of the combo said please ring anytime
AGU Price at posting:
8.2¢ Sentiment: LT Buy Disclosure: Held
