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AGO

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4.5¢ atlas iron limited

Rowliegb Yes the Board is being questioned about the quarterly...

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323 Posts.

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12/07/18

16:23

Post #: 34305702
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Originally posted by rowliegb ↑

There seems to be some implication that the board are deliberately understating Atlas' profits (or exaggerating loss) to encourage people to sell. This was first implied with MIN and now with Redstone. This would not be in their interests and would also possibly be illegal. Perhaps they are stating these figures because that is what they actually are and Atlas is struggling to stay afloat at current prices.

I recall a couple of quarters ago people were predicting $10-20m + profits and it came in as no profit.

I think the figures speak for themselves and just because they are not favourable some like to pretend they are not real so they can continue to talk up overly optimistic outcomes. It is official figures rather than some brokers or company promotional materials that should be a basis for investing. In this case we are lucky to have a takeover offer which does not rely on Atlas making a profit in the bear term. Without the takeover offer Atlas would be lucky to be 1.5c. I hope for a better offer but will be sending off my acceptance in 2 weeks.

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Rowliegb
Yes the Board is being questioned about the quarterly report and the company management during the quarter. Why would you possibly spend $33,000,000 mining ore that you do not need. Please see my earlier post to understand the calculation. I posed it as question to the company but there has been no response to date. The second point is, why in this day of accrual accounting was there no provision for the Lithium income? Surely these are not unreasonable requests?

AGO Price at posting: 4.2¢ Sentiment: Hold Disclosure: Held
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