Don't think we can bank on the a rail deal with FMG.Earlier...

Don't think we can bank on the a rail deal with FMG.


Earlier today, Fortescue's Pilbara neighbour Atlas Iron reported an underlying loss from its ordinary operations.

The narrow underlying loss of $500,000 sank to a final loss of $245 million once asset write downs were accounted for.

Now that a rail access deal with Fortescue looks less likely, Atlas today said it was in talks with potential partners who may take an equity stance in its growth projects, or strike other sorts of partnerships to make the developments more financially viable.

Investors have punished the stock in the wake of the results, with Atlas shares about 6 per cent lower at 87 cents shortly before 2pm.



Read more: http://www.brisbanetimes.com.au/business/earnings-season/forrest-pockets-102m-fortescue-dividend-20130822-2scz0.html#ixzz2cg2eAXc6