i thought i would start a thread on this showing what Brokers /Analyst think post annual report. Here is Morningstar today putting a positive spin on things.
Morningstar Resources analyst Gareth James said the company's major expansion plans remained on track while the port allocation had mostly been factored into the share price. The WA government recently confirmed plans to allocate port space to Atlas at Port Hedland. Mr James said the offloading the Balla Balla and Yerecoin assets was a good move due to the weaker iron ore price. "Development would have cost a significant amount," he said. He said the net loss had not affected the company's outlook and noted that cash flow after investing remained positive, up six per cent from the previous year at $72 million. "It's quite an achievement and I expect that to grow over the next year." At 1405 AEST Atlas Iron shares were down three cents at $1.625.
AGO Price at posting:
$1.62 Sentiment: LT Buy Disclosure: Held
