Breaking out big time

Came across this stock last night and from a technical perspective looks sensational.

All eyes on Atlas Pearls and Perfumes today!

ATLAS SELLS A RECORD $2.5 MILLION SOUTH SEA PEARLS AT KOBE AUCTION Atlas Pearls and Perfumes Ltd (ASX: ATP) is pleased to announce that yesterday’s pearl auction in Kobe, Japan, was the Company’s most successful pearl auction to date. The Company achieved a record result, selling an incredible $2.5 million worth of 9-13 mm high quality south sea pearls at prices which were 14% over Atlas’s reserve. “We are very pleased with this auction result as it shows that there is a growing and sustainable demand for smaller pearl sizes across the world. Our success is directly attributable to the fact that we are considered the market leader in the 9-13 mm specialty pearl size and we are consistently producing harvests of the highly prized and sought after quality white colour pearls in this size range,” Atlas Pearls and Perfumes Wholesale and Distribution Manager,Mr Tim Jones said. The latest Atlas auction is another major milestone for the Company, with a 40% increase in pearl prices since the first Atlas auction was conducted in May 2012.This means that we have already recovered a long way from the lowest point reached in the GFC in 2009 in the worldwide demand for pearls. The auctions have resulted in a substantial lift in revenue for Atlas. In the first quarter of 2012 Atlas privately sold nearly 37,000 pearls with the price for sellable pearls of JPY 4,800 per momme*(1 momme = 3.75g). In comparison, at this weeks’ auction, Atlas sold 64,000 pieces at an average sellable price of JPY 10,700 per momme. “The auctions have been a great success for Atlas and have enabled us to target a much larger customer base. Previously, 70-80% of our harvest was sold to just four different customers, but now we are selling our pearls to 50 of the world's largest wholesalers,” explained Mr Jones. Between May 2012 and June 2014 Atlas has hosted nine auctions at the Japan Pearl Center in Kobe. Kobe attracts the highest concentration of pearl wholesalers anywhere in the world and is the traditional centre for pearl trading. Atlas Executive Chairman and CEO, Stephen Birkbeck commented: “This week’s record result from Japan cements our new marketing strategy and we expect to achieve the highest revenue in Atlas’s 21 year old history by the 30th of June. It is pleasing to see also that our EBITDA will be a record level of profits since the commencement of the GFC; which we will be able to confirm when our audited financial results for 2013/14 are released later in the year.” * Momme is the traditional weight of a pearl ABOUT ATLAS PEARLS AND PERFUMES LTD Atlas Pearls and Perfumes (“Atlas”) is an Australian based pearling and perfume business established in 1992. Atlas has earned an enviable reputation as a world leading pearl producer of “nature’s most precious gift”, the South Sea pearl, specialising in highly sought after white and silver pearls. Atlas operates pearl farms spread across the Indonesian archipelago, including Bali, Flores, and West Papua. Atlas is a fully integrated pearling business. The Company has its own high quality grading and loose pearl distribution business, a jewellery manufacturing capability and sells direct to customers through wholesale partners and via its retail outlets. In 2012, the Company expanded its operations into perfumes and is currently developing a range of propriety products which include pearl powder (cosmetics and nutraceuticals), pearl proteins (cosmetics), pearl volatiles and boronia (perfumes) for supply into the global luxury supply chain.