are the mining yet, page-5

I have to keep reminding myself why i haven't bailed out(to use the word of the moment, though its a bit past it now) Here are a couple of good reasons why imo anyway-

No 1. From AGO announcement to ASX 03/10/2008

"Off take agreements are at a very mature stage. Atlas¡¦ iron ore marketing team is currently working
to finalise off take agreements and we expect to disclose those arrangements very shortly."(For newies not sure what an OT agreement is an agreement where a customer for x product agrees to buy a part or the total output of x from a producing mine at pre-determined prices and conditions over a number of years. Offtake agreements can be used by a producer to provide enough funds to repay project financing debt and to pay necessary operating costs and expenses. Offtake Agreements are often requested by banks providing project financing to mitigate the market risk of financing a project.)
__________________

No 2.From AGO announcement to ASX on 2/10/2008
"HIGHLIGHTS
„h TOTAL RESOURCE INCREASED TO 1.45 BILLION TONNES
„h OVER 100% INCREASE IN INDICATED RESOURCES TO 756 MILLION TONNES AT 36.7% FE
„h DEEP DRILLING CONTINUES TO DEFINE THE POTENTIAL OF THE RESOURCE
„h MAINTAINS EXPLORATION TARGET AT 1.8 ¡V 2.2 BILLION TONNES AT 36% - 37%FE"

I hold very nervously with too many eggs in the one basket.
Hopefully they won't go rotten.