From DF yesterday a reminder that they have forward contracts at $57pt till December. In todays AFR.
'At current prices, many of the country's iron ore players are in a precarious position. On Monday night, Atlas was forced by the Australian Securities and Investments Commission to issue a supplementary prospectus to clarify its cost position. The miner said its break-even was $US52.50 to $US53.50, but that would fall to about $US50 by December.
While that puts Atlas's production under water at current spot prices, Mr Flanagan said the company was making money on the ore it shipped because it had locked in prices for its cargos to China as far ahead as December at around $US57 to $US58 a tonne.'
AGO Price at posting:
12.0¢ Sentiment: Hold Disclosure: Held
