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Business Description: Atlas Iron Limited (AGO) is an independent Australian iron ore company which produces and exports mining and exporting Direct Shipping Ore (DSO) from its mines in the Northern Pilbara region of Western Australia. Currently, AGOâ€™s projects have total Resources of 1.17Bt@ 56.1% Fe and Reserves (Proven and Probable) of 506.8Mt @ 56.1% Fe. FY13 DSO shipping is 7.4Mt.
Strategy Analysis: Atlas operates three iron ore mines at Pardoo, Wodgina and Mount Dove in the Pilbara region of Western Australia. Production exceeded 6Mtpa by the end of 2012 with 12Mtpa targeted by 2014. Atlas continues to pursue acquisitions predominantly within the Pilbara region. An exploration program has been rolled out with a substantial increase in the resource and reserves position so far.
Atlas Iron reported a net loss of $256.04m for the half-year ended 31 December 2012. This result was adversely impacted by a previously announced non-cash impairment charge on capitalised tenement costs and a non-cash write-down on non-core assets of $258.0m. Revenues from ordinary activities were $288.26m, down 15.6% from the same period last year. Basic and Diluted EPS was (28.3) cents compared to 0.7 cents last year. The net operating cash outflow was $5.32m compared to an inflow of $117.71m in the pcp. The interim dividend declared was 3.0 cents compared with 3.0 cents last year. The company is now producing at a rate of 8Mtpa and is on track to increase production to 10Mtpa by the end of June 2013.
Nick Swales, Regional Director, Newcastle Office, Rathbones 27/10/2014 |
â€śIf you want to have a better performance than the crowd, you must do things differently from the crowd.â€ť Sir John Templeton.
Ric Spooner (Chief Market Analyst, CMC Markets) 20/10/2014 |
Today, Australian investors will not have to go it alone buying stocks as they did for much of last week. Bargain hunters this morning will be supported by the morale boosting encouragement of a 3% turnaround in the German Dax and a 264 point rally in the Dow Jones.
Carl Richards, director of investor education at the BAM Alliance 17/10/2014 |
â€śAs odd as it may sound, the sooner you start treating your investments like you treat life, the happier youâ€™ll be with the outcome.â€ť
William H. Gross, Janus Capital Group 16/10/2014 |
â€śFinancial markets are artificially priced. In the bond market, there is nothing normal about a three year German Bund yielding â€śminusâ€ť 10 basis points.â€ť
CMC Markets 8/10/2014 |
Share market indices around the globe are breaking down. While analysts cast around for reasons, itâ€™s clear that a time factor is in play. Simply put, many investors â€śfeelâ€ť a correction is overdue. How low could it go?
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