Twiggy Forrest makes surprise investment in Atlas Iron, page-32

Tomboy and others, I appreciate what your saying and it all does look positive for the company to stay afloat, and perhaps even make money etc. I'm sure first time buyers Mr Forrest who will be able to buy in at somewhere between 5-10c will make good money. If they get an 8c placement it only has to get to the last traded price and they have made an impressive 50%.

For existing holders however, for all the great news, these developments are only just small improvements on complete company failure. The portion of shares we currently own are destined to be tax losses, unless you were fortunate enough to buy in the low teens. The shares remain in trading halt and continue to lock down our money, and may not re-open prior to June 30 or as close to to see an exit door stampede. Any chance of seeing 20,30,40c now appears dashed with such a large placement at sub 10c.

I just can't see the logic, when the last traded price is 12c, of having the placement between 5-10c. Surely each cent difference means a massive amount of less dilution. and if you let it trade, perhaps 13,14,15c is possible and they can halve the shares issued. For existing shareholders, to make anything out of this, you need to go back and risk MORE money in a company that has been letting you down. Just seems safer ducking out and putting your cash elsewhere.

I'm sorry, but I see big losses on my holdings, don't have thousands laying around like Twiggy to throw at it again, and I just can not share your enthusiasm.

As always, hope to be proven wrong, even with the big losses, I'd just be happy to see 12c again, but certainly not holding my breath.