"Atlas has reviewed its Ore Reserves for its Horizon 2 projects at McPhee Creek and South East Pilbara (Davidson Creek Hub). Based on current assessments of the ability to fund rail and port infrastructure for these iron ore projects, Atlas has not reported Ore Reserves at 30 June 2016 for its Horizon 2 projects at McPhee Creek and South East Pilbara (Davidson Creek Hub). Atlas continues to report Mineral Resources for these two projects. "
Atlas is continuing to investigate a trucking based infrastructure solution for its McPhee Creek project based on a similar model to its existing projects and the Corunna Downs project PFS. Should such a trucking based infrastructure solution for its McPhee Creek project be feasible, Atlas may again be able to report Ore Reserves for its McPhee Creek project.
AGO Price at posting:
3.7¢ Sentiment: Hold Disclosure: Held
