Rights what's the dot point tomfoolery we can expect to see tomorrow or Friday
-heavily supported capital raising from range of retail and institutional investors
-benchmark iron ore price $55/tonne, above Atlas break even price
- atlas hedged against price risk
-strong margins and positive cash flow from operations
-mining at a rate of 15Mtpa
- board is in discussions on rail access
Possible footnotes:
Actual raising $38m cash after costs
Breakeven cost assumes 15Mtpa; atlas does not sell benchmark iron ore grades, iron ore price as at last night
Read the fine print in the announcement on hedging no more to say here
Positive cash flow expected at individual operational level, projected at run rate of 15Mtpa
Run rate only, based on the last weeks production before the report multiplied by 52 weeks.
Board is talking amongst itself about rail access, RIO and BHP execs aren't returning calls after we insulted them on social media.
AGO Price at posting:
3.3¢ Sentiment: None Disclosure: Not Held