Write up in the Australian, page-7

Nice story in The Australian today ;-)
It's fantastic to see AGOs turnaround be stated loud and clear.

In opinion this company is a money making machine as simple as that with full cash costs of 50$ AUD per tonne (38US). DF was worth every cent to help get AGO into the fundamentally stronger position it's in today. Hats off to David and the AGO team.

Early this year as IO turned into an IO bull market following a historical bear market, with IO averaging $56 AUD earlier this year and with AGOs full cash costs of $50 AUD it was profiting in between 24 - 35 million per quarter processing 4 million tonnes per quarter.

With current and emerging IO demand fundamentals supporting and moving forward from any conservative view from yesteryears bearish analysts and the fact that supply and demand balanced earlier this year when IO tried but couldnt push beyond the multibottom of 40 US per tonne (at the bottom of the cycle) you have a recipe of outstanding profits and growth for investors who saw the writing on the wall for a recovery early. Throw in the fact that as the US dollar improves, our dollar falls. This also increases our profit margin.

As China continues strong growth we now have 2 countries about to put the pedal to the metal on construction demand, steel and IO. That's the US who build big and also India with its huge population and only 33% urbanised planning to build 150 cities. There's no stopping this demand train for a long while as the world reinvigorates itself into the future with new infrastructure and into clean tech such as Lithium. AGO win win.

AGO is on track to pay it's debt off by March quarter (at the worst by mid year) with lots of cash remaining. Currently 200 million market cap (still far too low) with absolute potential to be worth 1 billion next year as it quickly clears debt and begins further value add for investors.

With extra cash AGO has lots of options:
1. Explore Lithium potential
2. Cut transport costs further
3. Expand McPhee, Coranna Downs etc to maintain producing 16 million tonnes per year as some mines come end of life.

I also expect AGO to not repeat it's previous mistakes as agencies will have no choice but to upgrade quality profitable nimble local companies such as AGO.

Well done new investors who entered in early and long term investors who have stuck by Atlas, to capitalise on previous lows ready for this inevitable strong turnaround which is only just beginning.