Very good post Col Even if NWI does not have exclusivity (which...

Very good post Col

Even if NWI does not have exclusivity (which I still think is incorrect based on the minister's letter in early 2017 confirming extension until 2022), both Twiggy and Gina would mount a strong case to utilise the full capacity of 50mt through that berth through Atlas Iron.


In actual fact, if NWI doesn't have exclusivity, it means that Brockman who have 18.5mt could be left out and Atlas apply itself to utilise full capacity. The government would apply each case on its merits and given Atlas is a junior, I am sure the government would want as many jobs to be created as possible while achieving near full capacity, there should not be much issue achieving this approval.

Some of it would be to Atlas customers while the balance would be contracted to Atlas to ship out to FMG and Gina's customers.

It would prove to be quite a healthy revenue stream for Atlas.

More economic haulage and mining contracts would be available to Atlas, which will decrease their C1 costs significantly.

JV between FMG and Atlas with regards to Pancho

All three of Fortescue, Gina and Atlas Iron will emerge big winners.

Yep and we will get to write back on our balance sheet $500M minimum of deferred tax assets plus much of Horizon 1 and 2 assets, which would likely be economic in nature even if they remain stranded until it is deemed the right time to mine.

The macro environment continues to improve also.

All in all, many positive options available for Atlas.