Tag: AGO

Take the money and run was the name of a great Woody Allen movie – it is also good advice for shareholders in a company under offer to look at closely, especially when the bid is all cash.

Small WA Iron ore miner Atlas Iron has given its first suitor, Mineral Resources three business days to match the all cash offer from Hancock Prospecting.

Gina Rinehart’s Hancock Prospecting has made a 4.2 cents a share cash offer for Atlas Iron – news that saw the company’s shares jump 22.2% to 4.4 cents each as punters speculated that either Fortescue Metals would jump in with a higher offer, or Mineral Resources would lift the terms of its all paper, 3.2 cents a share offer.

Atlas Iron shares took a whacking yesterday after the Western Australian government indicated potential buyers of the junior miner may not be able to develop valuable export infrastructure in Port Hedland in the Pilbara.

It hasn’t taken all that much time for a ginger group of shareholders in Atlas Iron to emerge on social media whingeing about the ‘cheapness’ of the agreed deal with Mineral Resources (MinRes).

Atlas Iron (AGO) shares took a pounding yesterday after they re-listed on the ASX following a 16 week suspension.

Struggling miner Atlas Iron (AGO) says it has protected its finances against a falling iron ore price – but that was up till yesterday morning when the price dropped to $US49.60 

Atlas Iron (AGO) shares remain suspended, despite the company re-opening its Mount Webber mine, meaning all three of its Pilbara iron ore mines are back in operation less than three months after shutting them. 

Troubled WA iron ore producer Atlas Iron (AGO) continues to try and find a way to remain alive and not in receivership or administration.

Atlas Iron (AGO) will start winding down its WA iron ore mining and export operations this week after deciding to quit the business because of the current low prices.

The dramatic plunge in iron ore prices (to a new low of just $US46.70 a tonne overnight Monday) has forced Atlas Iron (AGO) into a wholesale review of its business and the suspension of trading in its shares on the ASX.

In a complicated deal, Atlas Iron has appeared on the scene to throw a spanner in the plans Hong Kong-based company, Wah Nam, has proposed for a round of consolidation among iron ore wannabees in the Pilbara.

Still in the resource sector, something is up at iron ore miner, Atlas Iron.

Shares in Atlas Iron (AGO) rose by as much as 6.88% today after the iron ore explorer announced it has entered into an agreement to acquire the iron ore rights to ten tenements in Western Australia's Pilbara region from unlisted tantalum miner Talison Minerals Pty Ltd.