Ann: Atlas Iron Ltd - Redstone Offer, page-32

Mad if you don't kick the tyres. Even dirt farmers kick tyres before they decide to offer a price.

If the suspicions are right, as reflected in my post of yesdee, and Rinehart has no plans to operate the Atlas assets, because her primary aim is to protect higher grade prices from more lower grade production, the logic of which is bolstered if she reckons she can get the gummint to compromise on port development ex-'juniors', there are various possibilities for Atlas.

This is an excerpt from one 'analyst's' view after MIN pulled out;

"The focus now turns to Fortescue Metals Group, which still holds 19.9% of Atlas, and has not yet revealed whether it will launch a rival offer for the junior miner or whether it would sell its holding into Hancock’s bid.
Fortescue would make a small profit if it was to sell into the Hancock bid, having amassed its stake for 4 cents a share
Perth sources suggest that the Andrew Forrest-led company could decide to retain its holding, which would be a frustrating factor for Hancock if it wanted 100% control of the company. Relations between Mr Forrest and Ms Rinehart are said to be frosty."

If that's right or, at least a viable possibility, that would firm up the notion nothing will happen with the Atlas assets, with Rinehart aiming to 'frustrate' more low grade ore production, and Twiggy aiming to 'frustrate' Rinehart.

If those aims were to hold, and play out, Atlas might remain listed, until, say, the low grade IO price improves enough to provide an economic return on the opex and capex needed to operate the assets?

Maybe Ellison was smart enough to cotton on to that risk? Maybe his lesser ego allowed him identify the risks inherent in brawling with bigger egos, with those bigger egos backed by private wealth.