News: AGO Atlas Iron Updates On FY2018 Guidance

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    May 17 (Reuters) - Atlas Iron Ltd (AGO) :

    • "REMAINS ON TRACK TO MEET IRON ORE TONNES SHIPPED OF 9-10 MT FOR FY2018, ALBEIT AT LOWER END OF THAT RANGE"
    • LIKELY TO MAKE NON-CASH IMPAIRMENT TO CARRYING VALUE OF PRODUCING ASSETS AT JUNE 30
    • REVISES FY2018 C1 CASH COST GUIDANCE TO RANGE BETWEEN A$39/WMT FOB & A$40/WMT FOB
    • EXPECTS TO SHIP 45,000 TONNES OF MANGANESE LUMP BY 30 JUNE 2018
    • IF CHALLENGING MARKET CONDITIONS PERSIST, NON-CASH IMPAIRMENT CHARGE IN $75-100 MILLION RANGE IS LIKELY TO BE RECORDED IN FY2018 RESULT
    • REVISES FY2018 FULL CASH COST GUIDANCE TO RANGE BETWEEN A$58/WMT CFR CHINA & A$59/WMT CFR CHINA
    • REMAINS ON TRACK TO EXPORT ITS FIRST SHIPMENT OF LITHIUM DIRECT SHIPPING ORE IN JUNE 2018
 
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