just guesswork, page-4

Below is a responce via email i received back from AGO today,

Thank you for your email.

With respect to your query on Atlas' share price, yes it is disappointing. The market has lagged to value our stock and many other iron ore stocks since the recent iron ore price recovery from the lows seen in September / October 2012 and over the last week, we have seen the iron ore price drop which has initiated some debate surrounding the sustainability of iron ore prices in the future further impacting our stock value.

Whilst the price of iron ore is not something that we can control, I can assure you, as we have assured large, medium and small investors in the last 3 weeks since the half year report was released that:

• Atlas is targeting producing in a cost efficient and globally cost competitive way at a rate of 12Mtpa by mid FY2014.
• Atlas is planning to ensure it sweats all of its North Pilbara assets (more tonnes produced from our existing mines are in many cases cheaper and more cost efficient).
• our existing producing assets are producing good operating cash flows at the current iron ore prices.
• Atlas continues to develop its North Pilbara DSO projects; and
• Atlas continues to work on a rail solution for its Horizon 2 assets (McPhee Creek and SE Pilbara DSO projects) which could potentially create significant value for the Company. Atlas has yet to commit to any large amount of capital expenditure for Horizon 2.

We hope that this helps with your concerns.