Write up in the Australian, page-2

Atlas rises

One thing that can be said about the spectacular improvement in iron ore prices is that Atlas Iron(AGO) is no longer the basket case it was when prices sank below $US40 a tonne late last year.
The Pilbara producer’s shares scooted 0.5c or 29 per cent higher to 2.2c on Friday, giving the former high flyer a market capitalisation a tick over $200m. Prices for the type of material Atlas produces rocketed 12 per cent higher to about $US69 a tonne on Friday in response to the Trump-the-builder thematic, as well as the impact of the China construction stimulus. Atlas’s full cash costs in the September quarter from its annualised production of about 16 million tonnes was reported at $A50 a tonne ($US37.50) and it was able to generate $A24m from operations from an average realised iron ore price of $A56 a tonne. Assuming prices hold at current levels, the group will be able to clear its net debt of $89m in a flash. What then? Dividends? Who would have thought.