At the date of this report, Atlas had approximately 1.7M WMT of...

At the date of this report, Atlas had approximately 1.7M WMT of December 2016 Quarter sales subject to some form of forward price fixing via the use of forward sales, swaps and collars. This includes some 0.2M WMT of fixed price sales or swaps at an approximate average 62% Fe DMT equivalent price of US$50/t and collars comprising 1.5Mt of puts with an average 62% Fe DMT equivalent of US$49/t and 1.1Mt of calls with an average 62% Fe DMT equivalent price of US$57/t. 0.9Mt of puts have price protection limited to US$40/t at 62% Fe DMT equivalent levels

Then December quarter delivery $56m

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1. At the date of this report Atlas has hedged a portion of its September 2017 Quarter production as follows:
   
   
   •   Swaps for approximately 0.5m wmt at an average 62% Fe equivalent level of US$65/dmt,
     
     
   •   Bought Put options for approximately 1.0m wmt at an average 62% Fe equivalent level of US$57/ dmt and has sold Call options for approximately 0.7mwmt at an average 62%Fe equivalent level of US$67/dmt.
     
     
   •   Fixed price sales for approximately 0.5m wmt at an average price net to Atlas of US$46/dmt.
     
     
     This quarter will be looking good!