go you good thing, page-4

From the Australian................Lets hope the Macroeconomic Backdrop holds itself together over the next couple of quarters as I can definitley see AGO at $5.50.


"ATLAS Iron Ore will consider offers from three Asian companies for prospects holding about three million tonnes of lower-grade iron ore that is in high demand amid a construction boom in China, managing director David Flanagan says.

"As long as we don't get a new tax of a change in some sort of foreign investment risk in the next six months, I think there's good a chance that we do a deal," he said.

Mr Flanagan said that Atlas had received offers ranging between about $50 million and $400m for individual deposits.

The company had held talks with companies from India, Japan and China over its Ridley and Balla Balla magnetite deposits in the Pilbara and a third project, Yerecoin near Perth.

Atlas plans to become one of the largest iron ore producers in Australia's Pilbara region by the end of 2012, when output is set to hit 12 million tonnes a year, rising to 16 million tonnes in 2016."