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AGO - Atlas Iron

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Great to see this finally trading back up towards where it should be, the last month and a half has been a bit tough! Even positive announcements didnt get this thing moving...but today was great, I must say, over the past 6 weeks I was mighty impressed how it held at $2, plenty of support at that level... not sure what triggered today.. no news from what I can see..
 
PARDOO DSO PROJECT PUBLIC ENVIRONMENTAL REVIEW
RELEASED

KEY HIGHLIGHTS
PROJECT ENVIRONMENTAL APPROVALS ON TRACK
ATLAS POSITIONED TO DELIVER ON OCTOBER 2008 ORE DELIVERY DATE
COMMITMENT TO RESPONSIBLE DEVELOPMENT OF THE PARDOO PROJECT
 
Big volume on AGO this morning 4million already by 1pm .. I cant really tell if it is just people jumping out and back in with this mornings drop or some new interest in the company.. In the past there has only been strong volume prior to a big run..
 
Ended up with 7 million traded yesterday.. and announcement out today :

Atlas Iron Limited (ASX: AGO) is pleased to announce that it has entered into an option agreement to acquire the iron ore rights to 7 Pilbara tenements (E45/2287, 2268, 2294, 2288, 2244, 2346 & 2312 as outlined on the attached Tenement Location Plan), from Haddington Resources Limited (ASX: HDN).

These tenements are proximal to good infrastructure and prospective for iron ore” commented Atlas Managing Director, David Flanagan. “We are an active explorer, we look forward to getting on the ground, drilling some holes and building on our recent success on adjacent tenements at Abydos” he added.
 
DSO Reserve Summary -

Indicated resource increase by 40%
Pardoo resource increase by 23%
On Target to Ship In Oct 2008

Well I hope this puts AGO back on track to plus $2
 
adobee said:
DSO Reserve Summary -

Indicated resource increase by 40%
Pardoo resource increase by 23%
On Target to Ship In Oct 2008

Well I hope this puts AGO back on track to plus $2
Click to expand...

I wonder what the expected mine life now would be

Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS -13.9 -2.9 16.2 66.7
DPS 0.0 0.0 0.0 0.0

thx

MS
 
G'day All,
My first post in this thread but have looked at AGO on and off over the last 12 months. I figured i had missed the boat originally when it climbed rapidly up well over $2 and didn't seem be ever coming down again!
I hadn't really looked at it recently but read the quarterly the other day and with production on target for October and much upside in new projects aswell, I couldn't help but buy a piece on Friday at $1.75 (seemed to be good value). I did some fast research and IMO it ticked all the right boxes. 2008 seems to be shaping up to be a highly fluctuating year on the markets and as a result i think AGO has lots of potential as we approach first iron ore production in October (in my opinion should at the very least offer some stability to the SP).
At present, to be coming off a dip in the SP and having total market depth showing twice as many buyers as sellers is very encouraging and suggests that the market thinks it is undervalued at current prices. That's my theory anyway! DYOR
 
good to see in trading halt. their recent february presentation paints a very positive picture. interesting 30 parties looking to partner up on their 'massive' magnetite project. be nice if the announcement is the chinese partnering in.
 
hi all.. here's what i am tipping:

- substantial holder (possibly Chinese steel company, look at MGX what occurred recently)

- takeover (either a direct takeover from the likes of GBG or MGX both of which have 0 debt and looking for acquisitions)

- takeover of another company (GNL a small explorer suggested it had been approached?)

- Shipping or Discovery result
 
Back over $2 this morning lets hope it can hold up ..
New tenements in Pilbara.. hot locations.. perhaps some good reserve and discover announcements to come.. AGO the next FMG..
I wouldnt be surprised if they come up in an agreement with FMG on the rail line..


ATLAS ACQUIRES IRON ORE RIGHTS TO 774 SQKM OF PILBARA TENEMENTS FROM
TALISON
Atlas Iron Limited (ASX: AGO) is pleased to announce that it has entered into an agreement to
acquire the iron ore rights to 10 Pilbara tenements (as outlined on the attached Tenement
Location Plan), from Talison Minerals Pty Ltd (Talison).
Summary of the Agreement
1. AGO acquires 100% of the Fe rights in exchange for payment of $4,000,000 to Talison in
AGO shares upon execution of a formal agreement, which needs to be executed by 30 June
2008 or such later date agreed by both parties.
2. Talison retains rights to other minerals and is entitled to a 0.5% Revenue Based Royalty in
the event that Atlas develops an iron ore resource in excess of 5MT.
The tenements are between 75 and 160 kilometres from Port Hedland, less than 60 kilometres
from the FMG and BHPB railways and less than 60 kilometres from the Great Northern Highway.
Some of these tenements adjoin the company’s Abydos project.
"This acquisition adds to Atlas’ Pilbara interests and provides us with the opportunity to apply our
iron ore exploration expertise on an additional 10 tenements in a world class iron ore province”
commented Atlas Managing Director, David Flanagan “These tenements are very prospective for
iron ore and we look forward to doing a thorough examination of the iron ore potential on these
tenements” he added
For further information please contact
David Flanagan,
Managing Director
Tel: (08) 9476 7900
 
From todays announcement -

Atlas previously reported it’s combined Pilbara tenements were prospective for a total of 30 to 40 million tonnes of Direct Shipping Ore (DSO) grading 57 to 60% Fe which was sufficient to support a startup operation of 6 million tonnes per annum. The revision to an exploration target of 120 to 180
million tonnes grading 57 to 60% Fe represents a fourfold increase and a major growth opportunity for the Company.
 
Who knows what it will do but it's a target, based on rock chips. There's much more to look at IMO on whether this is a good ann or not. Very early days.

Recent geological mapping and surface sampling has highlighted exploration targets with combined potential for 120 to 180 million tonnes of iron ore grading 57 to 60% Fe.
Click to expand...

It's also over various 'deposits'. Would have been good for them to provide a map highlighting these 'potential' deposits. Has that been presented before?
 
Compared to other news and annoucements I have been getting at the moment this sounds pretty positive to me..
 
BUY recommendation in the West Australian today:

"DJ Carmichael says AGO remains a buy after a recent upgrade for its tenements in the Pilbara and has set a $3.06 price target..."

Big upside then considering it is currently trading around the low $2 mark !
 
A few good annoucements out this morning.. Looks positive as Atlas takes a substanial stake in WRK. I hope to see some strong increases as we get closer to the prefeasibilty completition, increase resource estimates, and further drilling results via WRK..

Cut from the announcement:

Emerging iron ore explorer Warwick Resources Limited (ASX:WRK) today announced that it has entered into a
strategic alliance with Atlas Iron Ltd (Atlas) (ASX:AGO) for the exploration and development of its iron ore
projects near Newman in the Pilbara region of Western Australia.

Under the terms of the agreement, Atlas will acquire a 19.9% stake in Warwick Resources through a share
placement and the acquisition of existing shares at a price of 23 cents per share.
 

It was $2.80 not long ago and being quoted as a low risk with big upside.. aside from the market downturn there have been no real negatives from the company since then.. I think we may see this surpassed prior to the prefeasibility coming out.
 
ATLAS TO RAISE $100 MILLION TO ACCELERATE GROWTH OF
PILBARA IRON ORE BUSINESS
Atlas Iron Limited (ASX: AGO) (“Atlas” or “the Company”) is pleased to advise that the Company has resolved to raise up to $100 million through the issue of up to 50 million ordinary shares at an issue price of $2.00 per share to clients of Hartleys Limited and existing major shareholders. The capital raising will allow Atlas to accelerate growth of its Pilbara iron ore business where Atlas is on track for commencement of production in August this year and production is targeted to ramp-up to 12Mtpa of Pilbara DSO by 2012. Funds raised will also be applied to ongoing exploration across
the Company’s iron ore projects, where drill rigs are currently operating and will be for the remainder of this year.
Atlas’ Managing Director, David Flanagan stated “We are delighted with the quality of new international and domestic institutional investors we have introduced to the share register through the placement following an international roadshow facilitated by our corporate adviser Hartleys Limited
that saw Atlas presenting to the world’s preeminent mining investment funds. Atlas is also very pleased with the support received from our major hareholders. The success of the placement, which was very heavily oversubscribed, will strongly grow the pace of development of Atlas’ Pilbara iron ore business.”
The placement in Atlas will be made in two tranches. The allotment of up to 30 million Tranche 1 shares, which is not subject to shareholder approval and falls within the Company’s ASX Listing Rule 7.1 15% placement capacity, will be issued in approximately 10 days of this announcement. The allotment of up to 20 million Tranche 2 shares will be issued subject to shareholder approval at a meeting of shareholders currently scheduled for 23 May 2008.
 
Big BUY demand 1,400,000 compare to SELLs of 146,700
looks like the 2.30s may be wiped out very shortly !
 
I am surprised no one else on this forum is following AGO .. another strong day and buyers still piling up.. With AGO looking to speed up their production and the market positive to them raising more money to do this and take over other companies and reserves I see this as a potential FMG.. Go AGO!
 

Im hearing you mate, i watch AGO pretty carefully as i got BMY wedged in between AGO & BHP up there at pardoo......tb
 
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