someone was asking what the pesky Bankers that bailed out Atlas were doing well this info was at the end of an article about Lucapa Diamonds in The Australian today.
"Meanwhile, the same advisory groups that engineered Atlas Iron’s massive debt restructuring appear to be in the box seat to pick up work on the potential deal between Atlas and Chris Ellison’s Mineral Resources.
MinRes typically does the bulk of its M&A work in-house, but sources suggested both Lazard and Houlihan Lokey are playing some role in the proposed transaction. Both firms were integral in Atlas’s 2016 debt restructuring, which staved off the former high-flying miner’s collapse.
MinRes has been looking at Atlas on and off for the best part of a decade, and is believed to be especially interested in Atlas’s rights to use the Utah Point berth at Port Hedland.
Atlas’s rights could dramatically improve the capex and competitiveness of MinRes’s ambitious narrow-gauge rail system, while also bringing in a large amount of stranded iron ore resources and a lot of prospective lithium ground near MinRes’s Wodgina lithium play.
And the added sweetener would be the big amount of tax losses sitting within Atlas."
AGO Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
