Former Atlas chief to join Pilbara Minerals, page-54

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adamgus

1,100 Posts.

07/12/15

19:41

Post #: 16563875
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Originally posted by Wombat2 ↑

Josh42
As a previous investor in Atlas Iron where I bought in at near $4 using a number of analysts recommendations I subsequently took at least a 50% loss possibly 70%. I sold out a few years ago when the IO price was down to $120. Yes I was very dissapointed with the investment but even at the time no one was predicting IO to fall below $80/ton. So when you say that AGO built up massive debt you seem to ignore the fact that they were developing assets that they forecast would produce future income streams.
When I reflect on my investment I blame myself for my failure not AGO or any of their management team who have done all within their power to make their business work. The fact that they are still operating in this difficult price environment is very surprising but clearly they have a bleak future in front of them the way that IO pricing is going. I think it a bit unfair to infer that Ken Brinsden is somehow responsible for the problems that AGO face.

I am absolutely delighted that Ken Brinsden is joining PLS with his unique experience of building multiple small IO mines in the Pilbarra region. He is exactly what we need to get this project into production and hopefully doing further value adding refinement at Port Headland. If all goes well PLS could well be worth over $1B in two years time, possibly in 12 months time should a bidding war erupt.
Like quite a few on this thread for a whole bunch of reasons, I cannot think of a better exploration or mining stock to be in. My biggest frustration if I can call it that is that we now are looking at a linger timeline than we thought 12 months ago to being taken over or going into production. Not by a lot in the scheme of things.

We should have a better idea of the initial resource potential in say 8 weeks time and the possible return potential from the PFS. I think we will then be further frustrated because it is quite likely that John Young will need to tell us " hey we have really only done about 40% of the drilling that we think we need to do and perhaps we need to do another 20,000m of drilling and oh yes by the way we really should be doing more drilling down to the 225m depth as we know that the resource is open at death in many locations. "

In short this story is likely to play out for at least another 12 months or longer before we can accurately say how much Lithium and Tantalum we have and what grades do we have in each area. Exciting months are ahead of us!

Chrs W2

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Mate you can't believe in analysts recommendations very rarely do they even come close look at the following.

FAR 26 cents wrong
SBM $1.80 wrong
TON $1.25 wrong
ZIP $1.55 wrong
EVN $2.25 wrong

There's probably many many more but I'm chilling with a cooper's pale ale right now.

PLS Price at posting: 27.0¢ Sentiment: Buy Disclosure: Held
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Former Atlas chief to join Pilbara Minerals, page-54

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