ati is the real deal, page-2

Good run down scorpio -
As long as ATI realise they have a potential libel case against Phan Hung for this article, as he makes a definite statement, not just a suggestion, that ATI have FALSELY CLAIMED ....
that's a pretty big statement to make in the open media.
Shareholders simply need to know the situation now.


Vinacomin denies Australian bauxite involvement
15:02' 24/12/2009 (GMT+7)

VietNamNet Bridge An Australian company with headquarters in West Perth, has falsely claimed it received approval for a bauxite exploitation project in Vietnam.


Atlantic Ltd has falsely claimed it received approval for a bauxite exploitation project in Vietnam
Its being seen as a tactic to turn around a declining share price. The announcement saw the companys shares increase by 19.35 percent.



Atlantic Ltd announced it had signed a memorandum of understanding with Vietnam on the companys involvement in bauxite exploitation and infrastructure construction projects in the central highlands of Vietnam.



On its official website, the company names itself as the priority partner of the Government of Vietnam in developing the bauxite projects, and that a bauxite project in Lam Dong province in the central highlands of Vietnam is one of its key projects



After conducting a prefeasibility study, the company said, Atlantic may also be asked to process alumina.

Atlantic also implied that an official agreement on project implementation would be signed off in the first half of 2010.

After the information was released, the price of Atlantics shares soared by 19.35 percent.



However, the Vietnam National Coal and Mineral Industries Group (Vinacomin), which is assigned by the Government of Vietnam to develop bauxite projects in the central highlands, has denied the information.



Answering VietNamNets questions, Vinacomin said the information is completely not true. The Vietnamese side has not signed any memorandum of understanding with Atlantic Ltd.



VietNamNet has found from its sources that prior to that, Atlantic Ltd many times tried to gain bauxite contracts through intermediaries. However, Vinacomin refused to cooperate with Atlantic because it believed that the Australian company was not capable enough to develop the project.



The latest move Atlantic made relating to the bauxite project was sending a letter to Vinacomin, offering cooperation, but Vinacomin officially refused.



Phan Hung

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