Atlas Iron is precariously close to becoming the first high profile victim of the spectacular collapse in the iron ore price, with the Pilbara miner understood to be weighing mothballing its operations, and possible administration, as it suspends trading of its shares.
ASX-listed Atlas has requested a voluntary suspension of its shares, saying the rapid fall in iron ore prices had forced it to run a comprehensive review of the business, including of asset sale opportunities and its capital structure.
Bondholders in Atlas, which are mostly US-based, will have a big say in the outcome, and are are deciding whether to agitate for receivership.
GRR Price at posting:
12.0¢ Sentiment: Sell Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)