AGO - Atlas Iron

[gav]

i havent mentioned that i think anything oversold , merely its quite an eye opener when one looks at the big picture, actually think a few still may be way overvalued for what they are on a fundamental bottom line basis

and yes realise you just posting falls , i am only posting comparisons also

It doesnt matter which Iron Ore thread you go to, it seems alot of the holders believe they are oversold. Wasnt talking about you in particular. IF future earnings on these companies are correct, then I guess you could say they are oversold. But thats a big IF! I however think you are right, some are still overvalued.

 

[adobee]

Atlas has had a slight swing at last from the low levels its been trading at perhaps due to the talked about possible interest of BHP, perhaps because people are taking notice of their current position.. I have taken a small position in this this morning 35k shares and will look to hold for at least 9 months.

 

[adobee]

An interesting line up at the moment for open.. Bids around 80 to 90c ..
will be interesting to see where this does open... large increase in interest since dwindling down to 58c..

 

[adobee]

Atlas Iron Limited (ASX Code: AGO) is very pleased to announce that it has entered into an agreement with a medium-sized Chinese steel mill for the sale of the first shipment of iron ore from the Connie Deposit at its 100%-owned Pardoo DSO Project. As a result, Atlas will immediately commence hauling ore to the port of Port Hedland for shipment.
Mining is currently underway at the Bobby and Connie deposits at the Pardoo Iron Ore Project, located 75 kilometres by road from Port Hedland, in the Pilbara of Western Australia. Connie is a lower grade “startup
deposit”. Its low strip ratios, homogenous ore character and proximity to infrastructure provided the best opportunity to meet our shipping deadline within 8 weeks of final approval to mine.

Atlas recently commenced mining at its 100%-owned Pardoo Iron Ore Project in the Pilbara of Western Australia where it is targeting its first shipment in December 2008. Atlas is fully funded with approximately $100 million cash at bank and zero debt as it completes commissioning of Stage One and ramp up to 1Mtpa. Atlas is planning to export 1 million tonnes during its first 12 months of operations at the Pardoo Project, growing to 3 Mtpa for year 2. With additional export tonnages from Abydos, the Company is targeting exports of 6 Mtpa for 2010, growing to 12 Mtpa by 2012.

 

[adobee]

WOW .. sellers have really dried up now... this could really move !!
1,600,000 buy side 40,000 sell side ...

 

[maungatapu]

Atlas Iron Limited (ASX Code: AGO) is very pleased to announce that it has entered into an agreement with a medium-sized Chinese steel mill for the sale of the first shipment of iron ore from the Connie Deposit at its 100%-owned Pardoo DSO Project. As a result, Atlas will immediately commence hauling ore to the port of Port Hedland for shipment.
Mining is currently underway at the Bobby and Connie deposits at the Pardoo Iron Ore Project, located 75 kilometres by road from Port Hedland, in the Pilbara of Western Australia. Connie is a lower grade “startup
deposit”. Its low strip ratios, homogenous ore character and proximity to infrastructure provided the best opportunity to meet our shipping deadline within 8 weeks of final approval to mine.

Atlas recently commenced mining at its 100%-owned Pardoo Iron Ore Project in the Pilbara of Western Australia where it is targeting its first shipment in December 2008. Atlas is fully funded with approximately $100 million cash at bank and zero debt as it completes commissioning of Stage One and ramp up to 1Mtpa. Atlas is planning to export 1 million tonnes during its first 12 months of operations at the Pardoo Project, growing to 3 Mtpa for year 2. With additional export tonnages from Abydos, the Company is targeting exports of 6 Mtpa for 2010, growing to 12 Mtpa by 2012.

There's a lot of info not given. Which company is buying the ore, at what price, how many tons and over what time period. Anybody got any ideas.
MGX is selling at $US40 a ton. From 6 customers 3 defaulted is still in discussion with 1 and the other 2 are large shareholders in MGX.
Brazil's Vale is cutting back production by 30m tons
There's no point planning to export 1 million tons unless you have a buyer
The best laid plans of mice and men often go astray. I hope their plans don't go astray.

 

[adobee]

There's a lot of info not given. Which company is buying the ore, at what price, how many tons and over what time period. Anybody got any ideas.
MGX is selling at $US40 a ton. From 6 customers 3 defaulted is still in discussion with 1 and the other 2 are large shareholders in MGX.
Brazil's Vale is cutting back production by 30m tons
There's no point planning to export 1 million tons unless you have a buyer
The best laid plans of mice and men often go astray. I hope their plans don't go astray.

Market seems to disagree with you on this one ..
100mill in the bank.. zero debt... I am awaiting Hartleys to review their last report.. I personally think the cut back in demand for iron ore will be short lived.. personal view only..

 

[YELNATS]

Quote:
Atlas Iron chairman removed
AAP

22/11/2008 4:18pm


Atlas Iron Ltd's largest shareholder IMC Resources Investment has unseated the iron ore miners' chairman, in a move that could be the prelude to a takeover bid.

The removal of the ex-BHP Billiton Ltd executive David Nixon by the 19.6 per cent shareholder surprised shareholders at Atlas' annual general meeting in Perth on Friday.

IMC Resources Group is an Asian shipping company with operations in Australia, China and Indonesia.

It is believed to be associated with Linq Resources Fund, with holds just under five per cent of Atlas.

Atlas is expected to call an extraordinary general meeting to appoint a new chairman.

Unquote

Could this be the precursor of a takeover? By whom? What price would be a "fair price" in view of AGO's assets and prospects? Will there be an initial bounce in AGO's price on Monday?

Wondering.

 

[Sean K]

Been canned this month. Halved.

299m on issue at 45c = $134m

$100m cash plus 19.5% WRK and 43.7% SRR, must add up to something.

Plus some fe....

Last year highlights:

1. Executed sales contract for our first shipment
2. Started Mining, Delivered first ore to port within 4 weeks of environmental approval
3. Drilled 1,054 holes for 54,894 metres
4. Completed first ever third party infrastructure agreement with FMG
5. Discovered DSO resources, completed PFS and resorted reserves at Abydos
6. 68% increase in DSO resources to 39.1Mt at 56.3%Fe
7. 174% increase in DSO reserves to 14.8Mt at 57.7%Fe
8. 52% increase in magnetite resources to 1.45Bt at 36.5%Fe
9. 55% increase in Pilbara landholdings to 9600sqkm
10. Identified exploration potential for 170 to 220 Mt of DSO grading 57 to 60%Fe
11. Discovered high grade DSO at Weld Range (58 metres at 65.1% Fe)
12. Acquired 19.9% of Pilbara iron ore explorer Warwick Resources
13. Raised $100M at $2.00



Hmmm, another one to the list.

 

[maungatapu]

Quote:
Atlas Iron chairman removed
AAP

22/11/2008 4:18pm


Atlas Iron Ltd's largest shareholder IMC Resources Investment has unseated the iron ore miners' chairman, in a move that could be the prelude to a takeover bid.

The removal of the ex-BHP Billiton Ltd executive David Nixon by the 19.6 per cent shareholder surprised shareholders at Atlas' annual general meeting in Perth on Friday.

IMC Resources Group is an Asian shipping company with operations in Australia, China and Indonesia.

It is believed to be associated with Linq Resources Fund, with holds just under five per cent of Atlas.

Atlas is expected to call an extraordinary general meeting to appoint a new chairman.

Unquote

Could this be the precursor of a takeover? By whom? What price would be a "fair price" in view of AGO's assets and prospects? Will there be an initial bounce in AGO's price on Monday?

Wondering.

IMC Resources is more than an Asian shipping Co. It is involved in marine industries, engineering, investments & lifestyle/real estate
IMC has investments in Linq Capital, View Resources, Ashton Coal Mines, Horizon Oil and Atlas.
Could be that IMC shipping line is involved in transporting their ore. Maybe even had some influence in procuring a market for their ore.
I think that IMC would try and prevent a take-over especially from the likes of BHP

 

[adobee]

RIDLEY MAGNETITE RESOURCE UPGRADE TO 2 BILLION TONNES
Atlas Iron Limited [ASX Code: AGO] is pleased to report on a significant resource upgrade for its 100% owned
Ridley Magnetite Project, located at the Company’s Pardoo Project just 75 kilometres east of Port Hedland, in
the Pilbara of Western Australia.
HIGHLIGHTS
● 35% TOTAL RESOURCE INCREASE TO 2.01 BILLION TONNES
● 45% INCREASE IN INDICATED RESOURCES TO 1.1 BILLION TONNES AT 36.6% FE
● RIDLEY MAGNETITE PRE-FEASIBILITY COMPLETION ON TRACK FOR DECEMBER 2008

Hopefully this can help ride some momentum from yesterday... All we need now is someone to make a deal to buy .. or bhp to take a shot..

 

[agro]

ATLAS SHIPS FIRST COMMERCIAL IRON ORE TO CHINA

news out just now

too bad it's not reflecting on the share price

 

[trillionaire#1]

give it a little time Agro ,when some money comes back to the resource
sector ,this should be an early improver.

 

[agro]

news out this morning:

ATLAS SIGNS NATIVE TITLE MINING AGREEMENT FOR ABYDOS
“This agreement is also a major step forward for Atlas as we deliver the greater Abydos Iron Ore
projects in conjunction with and in partnership with the Njamal People.” he added

 

[adobee]

2million plus buyers stacking up.. however little volume traded.. most buyers I have seen for some time.. I would love an update of a sale agreement before Christmas..

 

[derty]

I can only see the 1st 10 prices for buy and sell on commsec and they add up to 302k buy vs 308k sell, with the total being 2029k buy and 753k sell.

Maybe someone who can see the whole depth can tell us where the rest of the buyers are, but I dont think that simply looking at the total buyers and sellers is a good indication of interest in a stock. There may be a bid of 1mill at $0.20.

 

[adobee]

About $240k traded in last 20 minutes at 75c plus.. nice to see a close at 76.5 as we have been falling back pre 70c for the last few weeks..
450k shares on the sell side and hopefully falling.. fingers crossed for tomorrow..

 

[michael_selway]

About $240k traded in last 20 minutes at 75c plus.. nice to see a close at 76.5 as we have been falling back pre 70c for the last few weeks..
450k shares on the sell side and hopefully falling.. fingers crossed for tomorrow..

Hm yeah not bad today

Earnings and Dividends Forecast (cents per share)
2008 2009 2010 2011
EPS -17.9 7.8 44.9 81.8
DPS 0.0 0.0 0.0 0.0

Date: 24/11/2008
Author: Michael Vaughan
Source: The Australian Financial Review --- Page: 18
The chair of Atlas Iron has been voted out by a major shareholder. At theminer's AGM on 21 November 2008, IMC Resource Investments voted against there-election of David Nixon. It is thought that the Chinese-backed company wasunhappy after failing to gain an iron ore supply agreement with Atlas

thx

MS

 

[trillionaire#1]

solid day for AGO this arvo,strong finish to the day.
i plan to keep this one in the back pocket for a while.

 

[adobee]

DSO DISCOVERY AT WODGINA 100% AGO .. full potential expected to be revealed January..

Looking more and more attractive everyday.. all we need now is a buyer..