sell off, page-16

Hi Gindaldan,

You said in your previous post the following:

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like AGO, however I have concerns with their resource, a lot of land but not much Fe. I'm worried they might only find dirt on their large land holding in the Pilbara. Also another issue is port capacity. AGO have a lot of planned production, but how will they ship it?

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So you have concerns about their resource???

Not much FE?? read the following announcement.

Atlas previously reported it¡¦s combined Pilbara tenements were prospective for a total of 30 to 40
million tonnes of Direct Shipping Ore (DSO) grading 57 to 60% Fe which was sufficient to support a
startup operation of 6 million tonnes per annum. The revision to an exploration target of 120 to 180
million tonnes grading 57 to 60% Fe represents a fourfold increase and a major growth opportunity
for the Company.
In response to these recent discoveries, Atlas has commenced conceptual studies into a larger
project centered on Abydos. Atlas¡¦ engineers are now investigating a 10MTPA DSO project with the
capacity for upgrade to 15MTPA.
¡§Atlas has a history of getting our exploration targets right. These look like major discoveries and if
our assumptions are correct they have the capacity to make us Australia¡¦s 4th largest iron ore
exporter.¡¨ commented David Flanagan, Atlas¡¦ Managing Director.

So the above should have answered all your concerns.

And if you have not seen enough FE look at the magnetite resource:

Only 75kms from Port Hedland
„X Scoping study completed in July 2007, PFS by October 2008
„X Project Resources 853Mt @ 37.2% Fe
„X Targeting 1.2 billion tonnes at 35 to 40% Fe by December 2008
„X Strong operating cashflow
„X Port access MOU in place with Fortescue FOR 10MT CONCENTRATE
„X Gas pipeline, powerline, national highway and process water all in close
proximity
„X More than 40 capable international groups have expressed an interest in
partnering Atlas
„X Development partner to be chosen following PFS completion

All the above is any junior iron ore explorers dream.

And for the Hematite DSO we have a MOU in place with FMG for rail haulage and port handling and loading faciltities for 3 MT per annum as a start.

The Pilbara will change in the next few years and BHP and RIO will be forced to give up certain privileges for the benefit of the junior iron miners imho.

In the meantime AGO has time to look for alternative ways to get there ore out to sea before they ramp up to higher levels.
And by that time they will have the first revenue flowing which gives them even more scope to tackle any challenges ahead.
And do not forget that by that time they will have a JV partner for their huge magnetiti project who also whould have put a nice swack of money in AGO's coffins.

This company is the next best thing iron ore , next to FMG, and a lot of people will want to be part of it imho.

Good luck and remember the early bird gets the worm.

AGO is lucky and will be one of the early birds as it will be exporting the first iron ore in a couple of months time.

good luck

jojo