Atlas Iron is a high cost, low tonnage IO junior with a low-grade product that suffered a near death experience a few years ago & has since diversified into Lithium out of necessity.
Their market cap was about 1/3rd that of CIA a few days ago & the MIN takeover offer has pushed it's market cap up to about half that of CIA. I've been reading the HC posts but there are just too many! I have previously wondered why Atlas has such a big following on HC & then I was stunned to learn from the below article that there are 30,000 retail shareholders!!!
http://www.copyright link/business/...on-mineral-resources-marriage-20180409-h0yj7o
Today I tried to find out how many shareholders CIA has, so I looked at last years annual report.
The top 20 hold over 60% of the company.
Then by taking an average of the amount of shares held in each category (1000 - 5000, 5001 & 10000 & 10001 - 100000 etc...} & dividing this into the total amount of each category I came up with around 800 shareholders. This a rough guess so call it 1000 total. If you add last years Canadian CR & employee options etc... I believe it may be up to 1500 total shareholders maximum. Given that around 70% of CIA stock is traded in Canada (TSX etc...) vs around 30% in Australia (ASX) going by average volumes, then Australian shareholders may only number around 300 - 450.
How is it that AGO has 30,000 retail shareholders of whom the great majority would be Aussies yet CIA appears to number in the hundreds of shareholders?
CIA appears to be either little known in Australia or if known, not researched by many.
It seems that outside of Australia most Aussie IO investors only know of Vale in Brazil.
CIA has a great story behind it & fantastic potential with huge resources & a product grade higher than RIO, BHP, FMG & even Vale (who now put out a 64.3% Fe product thanks to their ramp-up of S11D replacing their lower grade ore).
It seems CIA needs some Aussie broker reports & media saturation for the punters to notice!!
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Atlas Iron is a high cost, low tonnage IO junior with a...
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$7.30 |
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Mkt cap ! $3.782B | |||
| Open | High | Low | Value | Volume |
| $7.04 | $7.46 | $7.04 | $28.85M | 3.973M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 3006 | $7.25 |
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| Price($) | Vol. | No. |
|---|---|---|
| $7.31 | 7875 | 2 |
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