AGO - Atlas Iron

StockMiner · 9 October 2008

jackson8 said:
am wondering if latest announcement form mgx may be replicated in other iron ore producers over coming months

hope not, the mgx announcement wasn't good news.
Fingers crossed the Pardoo approvals are positive and there's some sp increase

nunthewiser · 9 October 2008

hi, can someone enlighten me on AGO current cash held ? any chance of a cap raising announcement being thrown in while there in halt ? do they have the cash to develop said deposits? ...... iron ore might be a common mineral in the west but it sure aint cheap to mine it .

forgive my quetions ive never researched it only listened to the hype so steered clear .

thanks in advance

nunthewiser · 9 October 2008

??? No holders know the answers to my questions ???

man thats a lil scary.....................................or am i being impatient and check back tommorow ?

Motogoon · 10 October 2008

nunthewiser said:
hi, can someone enlighten me on AGO current cash held ? any chance of a cap raising announcement being thrown in while there in halt ? do they have the cash to develop said deposits? ...... iron ore might be a common mineral in the west but it sure aint cheap to mine it .

forgive my quetions ive never researched it only listened to the hype so steered clear .

thanks in advance

Pretty sure i read in a broker report that thry've got someting like 147 milliom in the bank, so not too much to worry about i think. I'm a holder & believe in them, one of they few shares i'm still holding on to. Big things to come i'm sure.

adobee · 14 October 2008

AGO in long halt awaiting annoucement re final approvals for Pardoo Project..
Today would be a good day to release some positive news and sale upwards guys !!!

LeeTV · 14 October 2008

Currently suspended from trading but the forthcoming news looks to be all good. Let's hope they catch this current trend in the market and jump up as far as FMG has today

treefrog · 14 October 2008

nunthewiser said:
hi, can someone enlighten me on AGO current cash held ? any chance of a cap raising announcement being thrown in while there in halt ? do they have the cash to develop said deposits? ...... iron ore might be a common mineral in the west but it sure aint cheap to mine it .

forgive my quetions ive never researched it only listened to the hype so steered clear .

thanks in advance

yer not thinking of switching from MGX are ya nun?

CURRENT POSITION ($ 000s)
2006 2007 2008
Cash Assets 8,308 14,433 143,350
Receivables 233 535 3,061
Inventory -- -- --
Others 7 22 68
TOTAL CURRENT ASSETS 8,548 14,989 146,480
.
Accounts Payable 1,426 2,080 11,808
Debt Due -- -- --
Others 31 211 1,423
CURRENT LIABILITIES 1,457 2,291 13,231
.

quick ratio of 11

alex arigo · 19 October 2008

very bullish on ago long term its a great stock very oversold holding on for the long term china will still need iron ore no matter what

dirkdiggler444 · 20 October 2008

Whats with the big AGO sellout? SP is down 18%, after they have just announced production/mining of ore. Shouldn't this boost SP?? I haven't done much research, only read Commsec announcements. Anyone know more?

bas · 20 October 2008

The market is probably worried about the fact they have no sales agreements in place yet.

XXXXXXXXXXXXX

jman2007 · 20 October 2008

Interesting times we live in,

A mid-tier IO producer announces mining has commenced and gets slashed by 20% for its troubles. And was it really worth going into such a long suspension for this announcement?

If we strip back to the bare bones their rather waffly recourse released today, they're basically saying "yep we've started mining, but we don't have any customers". They also seem to contradict themselves somewhat by saying they are committed to exporting low grade ore, but the operations are currently focussing on otimising grade and contaminants. So they're basically digging out the cream of their ore now, to try and stay competitive and lure a buyer.

Remains to be seen how these mid-tier producers will go, the Chinese will no be playing hardball and will want to win back some of their losses since the last round of IO price negotiations. I also don't know how AGO's DSO ore compares in quality to say MGX's from Koolan Island...anyone?

Looks to be in for some short to mid-term volatility to say the least, I suggest people thoroughly do their own research.

jman
DNH

Sharks37 · 21 October 2008

Interesting times indeed. As they say its all about timing...6 months earlier and you would have seen their s/p sky rocket on news like this.

jman2007 · 22 October 2008

Sharks37 said:
Interesting times indeed. As they say its all about timing...6 months earlier and you would have seen their s/p sky rocket on news like this.

Don't know much about their management setup, but they obviously have balls of steel, or are completely insane to be mining ore without a customer. One would think they can't simply just happily stockpile their material for a month of Sundays, and ship it at their leisure. I imagine they would be considering spot market sales as a last resort.

jman

bluekat · 28 October 2008

I'm sure BHP must have AGO on it's shortlist of possible buys, why buy RIO when you can get junior miners for lower than basement prices. With RIO, BHP will pay a premium, the juniors represent a true discount .
Maybe they are waiting for the bottom.

alex arigo · 28 October 2008

what a joke ago has 140 million bucks in the bank started mining iron ore target 1 mtpa current year to 3 mtpa 09 10 6 million tones 2010 12 million 2012 looks good to me i am a long term holder of this stock what wih the massive sell of way over sold to me panic selling looks like

gav · 28 October 2008

I posted these figures the other day on the FMG thread. They are correct as at 26 Oct 08.

Comparing Iron Ore Stocks....

BCI - Down 85%
AGO - Down 84%
CFE - Down 56%
MGX - Down 89%
FMG - Down 78%

AGO look on par to other IO stocks to me. If AGO is oversold, then so is everything else....

gav · 28 October 2008

Yes Nun. Of course the fundamentals for all companies mentioned above are different, I was just giving a broad view of Iron Ore company share prices. It seems everyone thinks their Iron Ore company is oversold. Good luck to all that hold.

nunthewiser · 28 October 2008

gav said:
Yes Nun. Of course the fundamentals for all companies mentioned above are different, I was just giving a broad view or Iron Ore company share prices. It seems everyone thinks their Iron Ore company is oversold.

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

Broadside · 28 October 2008

nunthewiser said:
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

most iron ore stocks are down 80-90%

the best will survive and eventually thrive, an awful lot of subeconomic and marginal projects that required further massive IO price increases will now get scrapped, probably a good thing for the cream of the crop

I don't hold AGO but it's one of a handful that have what it takes

nunthewiser · 28 October 2008

Broadside said:
most iron ore stocks are down 80-90%

the best will survive and eventually thrive, an awful lot of subeconomic and marginal projects that required further massive IO price increases will now get scrapped, probably a good thing for the cream of the crop

I don't hold AGO but it's one of a handful that have what it takes

all cool i realise the falls .my original post was in regards to doing a comparison of that list on asset values per share and earnings per share ... quite an eye operner

not dissing any stocks not promoting any , just bringing up an observation really

AGO - Atlas Iron

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