The boss of Atlas iron says any potential suitor is going to have to go hostile with a robust offer because the iron ore miner isn't for sale.
Speaking at a conference in London David Flanagan admitted he is knocked back several approaches from potential bidders and says he sees Atlas as a $30 stock.
The company recently announced its first fiscal full-year profit on the back of higher production and prices, and Mr Flanagan expects the growth to continue, predicting a 10-fold gain in the value of the $2.8 billion miner.
Rivals in the iron ore-rich area of the Pilbara such as Fortescue Metals Group Gindalbie Metals have garnered investments from Asian steel makers to help fund expansion, an approach Flanagan has so far resisted.
