News: AGO Atlas Iron announces results from Corunna Downs Project Definitive Feasibility Study, page-16

So Corunna can start producing 4Mtpa from first quarter of 2018 and by that time only Mt Webber will be operating with capacity of 7.8Mpta (from Sep 2017). This means production will fall to 11 - 11.8 Mpta from current 14Mpta in FY18.

In addition, company will require $50M for development of Corunna mine (decision pending in Mar 2017). There is possibilities for WA govt increasing port charges next year as they have waived it for last two years on the back of weaker IO prices. This means cost may increase (possibly $2 per Mpta). There might be some production fall only for Mar 2018 quarter depending on completion of mine development.

IO prices averaged out for 2016 around US $59 (AUD $78) and AGO sell @minimum of 20% discount to benchmark index.

Conclusion : Still value left in Stock.