AFR Street Talk, page-19

O.k, sitting here on a Sunday wondering what the hell to do with my investment in AGO.
O.K takeover maybe on the cards, true. Base this on pretty simplistic logic, and honesty this has not worked for me in the past and at times don't know why I don't just go to the casino and stick it all on black

So I invested at a dollar thinking these things are cheap, but come to the realization that I don't understand this investment particularly well. In hindsight obviously s***house bad choice. I thought a rail deal would be done in exchange for Port allocation, but clearly this situation is a lot more strategic than it is synergistic. And when you look at the map you can see why. None of the other three want this thing off the ground and in a falling IO price environment........ This is the monopoly game of life, and the big guys hold all the railways. (amongst other extensive assets).

Question is, what price is sufficient for a takeover and what point does it all become too difficult for Atlas management? Are we reaching the threshold now? At this point we are losing money and making a loss I believe.

So questions that I intend to research include
1. Does anyone have a back of envelope for a sum of parts?
2. Given that management probably has the most to lose out of a takeover, what price is sufficient for management and what price for other holders?
3. Flannagan once said he saw Atlas as a $20 company. Any believers out there that this still has $19.42 upside?
4. How attractive are these tenements for perspective buyers? Probably attractive longterm for the big guys. Who is likely to stump up min $800 mill in this environment?
5. Most importantly how low does the share price go in the event management dig their heels in at takeover time? I mean they have the most to lose, probably their jobs. bonuses etc.

Are there still AGO bulls out there? Because this investment now looks shaky to me, especially if management let pride get in the way at takeover time. Because maybe that pride is really just thinly disguised self interest.

6. Finally if AGO maintains the long-term belief in self preservation what happens to the company/share price? Operations will be marginal for the foreseeable future I believe. The big guys have probably expanded to fast just like people said they would.

Management, if you are reading this, well I for one don't want to lose more money on this investment. Give holders, Mums and Dad by the way, (not me -but you know) some clear direction as to what you intend to do. If you believe this company is worth a lot to predators I want to hear all about it! Obviously it is not wise to place ones cards on the table or look desperate so if you actually intend to reject takeover bids and believe in the long term iron ore forecast, well I want an explanation as to how you intend to protect shareholder wealth during this period of s***house absolutely rooted pricing.

Please excuse my profanities but I am fairly close to cutting my losses to be honest. Management make the right moves and noises please.