I totally agree with you regarding Port allocation and access to port, this is exactly why BHP and Rio could be a chance.
Atlas has Iron ore sure , but the material is worthless to BHP and or Rio they already have plenty, its purely about strategy, and getting rid of another player who is able to export to their customer base
It could also be argued that Atlas is too small for BHP and Rio interns of production 30 million tones is not worth an investment of 5 plus billion for one of these guys IMO.
Vale is a chance, but again big investment purely to get into WA, there could be better moves around
Therefore IMO it has to be an Indian or Chinese equity group, with connections to the steel industry .
For these guys its about securing supply, It would not surprise me at all to see a party take a substantial holding in AGO just like APAC have in MGX
IMO Atlas days as operating as a listed company are limited, just like MGX the foreign mills will get their ore.
But at what price?
I don't know but anything like $4.50 i would be taking, i no longer hold my oiginal longs, sold them a few months back but have stock in the 2.70s 80s and 90s.
BTW lets not rule out the action going on over at Lcy and atlas continuing relationship with the IMC group, we will hopefully see some action on the mag projects soon, this could all be part of the puzzle
Bella Bella is the forgotten Gem of this company, go back and have a look at Aux's initial results and DFS on BB, its worth a few billion in itself to the right party.
Good luck Snake
AGO Price at posting:
$2.88 Sentiment: Buy Disclosure: Held
