has anyone heard anything..., page-61

Could certainly be AGO as one of the front runners .



PRINCIPAL ACTIVITY
Atlas Iron Limited (AGO) is an iron ore producer with most of the projects
prospective for iron ore and located within the Northeast Pilbara region,
Western Australia (WA). Currently, all of AGO s existing projects have total
JORC Resources and Reserves of iron ore of 1,034Mt @ 56.3% Fe and 242Mt @ 57.5%
Fe, respectively. The Company s Pilbara mines are now running at rates of 6Mtpa.

MINES IN PRODUCTION: The Company has two iron ore projects that are currently in
production, being the Pardoo DSO Project and the Wodgina DSO Project, both of
which are located around the Port Hedland area in the Pilbara region of WA. For
the Pardoo DSO Project, the Company continued to expand production at the
project with the mine producing 0.22Mt of processed ore during the March 2012
quarter. For the Wodgina DSO Project, its mine produced 0.84Mt of processed ore
during the same period. In May 2011, the project s capacity was at 7Mtpa.
Moreover, AGO is planning to commence a further three mines in the North Pilbara
(Mt Dove DSO Project, Abydos DSO Project and Mt Webber Project).

EXPLORATION & RESOURCE DEVELOPMENT: During 2011, AGO undertook drilling
activity, with field work focused on the mining and near-mine projects in the
North Pilbara; principally Pardoo, Wodgina and Mt Webber. During the March 2012
quarter, AGO drilled 270 RC holes and 22 diamond holes for a total of 30,474m
across its Pilbara projects. Approximately 50% of the drilling occurred at
McPhee Creek, with the balance being ongoing programs at the Abydos, Mt Webber
and Jigalong projects. AGO also continued to test a range of targets in the
South East Pilbara, with substantial drill programs at McCamey s North, Hickman,
Warrawanda and Western Creek.

PORT FACILITY: AGO holds a 63% interest in North West Infrastructure (NWI),
which has rights to 50Mtpa of export capacity at Port Hedland. Moreover, AGO is
now shipping iron ore exclusively through the Utah Point port facility in Port
Hedland harbour, underpinned by the combined production of its Pardoo and
Wodgina mines.

OTHER INVESTMENTS: AGO holds a 45.4% interest in Shaw River, a manganese
exploration and development company. The Company also holds a 19.85% interest in
Centaurus Metals Ltd, an emerging Brazilian iron ore explorer and developer.