Current Quarter Costs continuing to trend down, operations...

Current Quarter Costs continuing to trend down, operations outperforming
 Record 1.4 million tonnes shipped (wet) during October, 2.54 million tonnes shipped (wet) qtr-to-date (end-of-month November)
 Atlas has exceeded its targets on cost savings both in term of pace and scale, year to-date.
 All-in cash costs of AUD$66-67/wmt CFR China September/October and trending down
 Further material cost saving initiatives underway
 Total workforce reduced by approximately 80 staff across Atlas’ operating sites and Perth office during early December
 Board changes reducing size by 2 directors, 15% fee reduction for remaining directors
 Organisational changes forecast to generate annualized savings of approximately A$15M, with once-off restructuring costs of A$3-3.5M
 Further diversification of sales destinations, including West Coast India and South Korea


Updated FY15 Cost and Production Guidance Cost improvement projects delivering significant opex savings per tonne
 Transition from mine development and production expansion to production optimization driving efficiency
 FY15 all-in cash cost guidance reduced to A$64 - $68/wmt CFR, targeting the lower end of that range (originally A$68-$73/wmt CFR)
 Production guidance targeting 12.4 - 13Mt (wmt) shipped for FY15, comprising 12.3 - 12.8Mt (wmt) Standard Fines and 0.1 - 0.2Mt (wmt) Value Fines (previously 12.2 – 12.8Mt (wmt) in total
 Favorable cyclical cost opportunities in:
 Sea freight
 Diesel price