I'm Backing Atlas, page-4

Atlas does not have much support now and DF and management have performed abysmally over the lifespan of the company. The company was over capitalised and served only to feed advisors and hangers-on. There never were any fundamentals to support the valuation when it was a multi-billion market cap.

Cost savings were there to be had years ago yet the spend-thriftry of the board and management had forgone potentially greater margins when the iron price was booming. Instead of having piles of cash, it has piles of debt.

The amount of money wasted and shareholder funds squandered is simply staggering, and the largesse of management has left a bad taste in everyone's mouth - even the "kingmakers" are trying to put distance between themselves and this crock.

If you are a shareholder and old sunshine does succeed with his little debt deal, you will be diluted by billions of new shares and still be part of a business that lacks any competitive advantage or meaningful assets. If the debt deal fails, the result will be worse.

Another few hundred million tonnes of decent grade iron ore coming into the market - hmmmm.