atlas iron a good buy or a value trap?, page-20

Richie and rcman

Interesting that BBYs assessment is all about McPhee Creek ... it does add double the current reserves (HI reserves 90mt and McPhee 180mt). For a rail solution it only requires a sidetrack to any of the existing rail lines ... FMG, BHP or Roy Hill when complete.

So then it becomes about port facilities and once again interestingly their base case valuation (150% above current which is fairly tasty!) is HI plus McPhee Creek via Utah Point. To go above 15mt which this scenario requires then it must assume some use of existing (under utilised?) port facilities .... Which points to who? BHP perhaps.

Just some speculation.

H