re: Ann: Atlantic Secures Major New Funding F...
Now ATI has the cash they need to top up the escrow account on the $300M bonds, due 15 Aug. So they're not calling in the administrators next week. My estimate is that with this $50M they will now have enough cash to get through to the end of 2012. So expect the next capital raise in early 2013.
ATI has run out of cash three times in less than a year. All the while sending out positive press releases to shareholders.
Hard to believe Salim/Droxford is still a believer in this project. I suppose we'll see a few comments posted on HC saying "they must know something we don't". They don't. They are just buying in to the positive spin put out by the MD of ATI, saying that positive cash flow is just around the corner. It isn't.
I used to post to ATI threads as a warning to investors to steer clear of ATI. No need to do this any more. Looks like Salim is the last believer still putting money in. I feel sorry for him, and for all who lost money in ATI. You didn't do anything wrong. The MD of ATI on the other hand....well if I said what I really think, I would get TOU'd for life from HC.
Sam out
ATI Price at posting:
41.0¢ Sentiment: LT Sell Disclosure: Not Held
