And they kept paying dividends even last year. Irresponsible. It...

And they kept paying dividends even last year. Irresponsible.

It is hard to work out their real production costs and what their net pay is from the low grade iron ore. The announcements and presentations do not seem to have enough information, they were always too bullish.

The shareholders of the several companies taken over by Atlas benefitted considerably. I can't see any benefit from any of those acquisitions now. The port capacity allocation they paid too much for could be taken away by the government if they don't use it all. How many of the iron ore assets they paid for actually produced anything? Hence the huge write downs.

There has always been too much swagger. The current MD seems to have been unable to unwind the hype he inherited.

The red head goes on lots of speaking circuits. We all remember him boasting about AGO "never needing debt" then a year later takes it on and the Company keeps spending on lots of things like cricket teams, lavish offices and publicity campaigns.

The board has to go. Now.

I don't think there is enough cash to payout the major creditors and meet all the contingent liabilities such as termination of employees and contract payouts.