Atlas Iron doesn't like lower grade magnetite that much. They prefer DSO haematite, which is why they are divesting most their high cost magnetite projects.
CTM is on halt today due to capital raising. I think AGO sees CTM has a longer term growth path, so they are likely to use the sale proceeds from CAP to maintain their 19.9% stake in CTM.
I think AGO timed it right to sell CAP at a higher price.
CAP Price at posting:
39.1¢ Sentiment: None Disclosure: Not Held
