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AGO - Atlas Iron

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weston

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I can not find a thread for ago, it has few tenements in pilbara region, and it expects production of 1m tons DSO in March 2008. Important it targets exploration of 1billion to 1.5billion magnetite ore in Pardoo.Its DSO prospect in Abydos has huge potential. The only concern to me is margin low, they expect $10 to $18 for initial production, anyone hold it?
 
up 12% today on good volume

25th May
PILBARA iron ore play Atlas Iron is considering listing its magnetite interests on the Hong Kong stock exchange in an attempt to realise greater value for the asset

The hematite operation is expected to produce between 1 million and 3 million tonnes of ore a year for around seven years, with the ore set to be trucked from the mine to Port Hedland along 75km of sealed highway.

However, the magnetite potential of Pardoo could dwarf the hematite, with some observers tipping magnetite resources of the project to reach in excess of 1 billion tonnes.

Flanagan said the listing of the Atlas subsidiary that holds the magnetite rights in Hong Kong could help facilitate investment in the project from Chinese steel mills, which have helped drive much of the activity in the Australian iron ore market.
 
Technicals look great. Going to enter on Monday around market. Broken out of resistance of $0.7 last week on nice volume, and it is now ready for a strong run higher. OBV is spot on showing strong buying support, whilst the fall back in 06 corresponded to the 50% fibonacci level nicely. This is a strong BUY in my opinion on the technicals.
 
Missed this one ... getting slack ...

Agree with the previous posters this is one great looking chart. STOP would need to be around the 55 mark for me so entry risk too high ... all the same this could be 2.00+ within months ....
 

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intersting stock.Noticed today on news page that loading space for product at harbour to be provided by fortescue and fortescue will facilitate marketing of there potentially i bill tonnesof product.Seems to me,my view only, next step could be fmg jv or swallowed up by fmg.jonas and the whale.I will enter this stock soon,first must free up some capital,thing is all ones im in are looking good to.This is the right sort of dilemma to be in.Keep the faith,be strong!
 
Henry, I hope you bought in.

This one is going ballistic.

I was alerted to this AGO by a friend when it was in the mid 50c range.
At that time (just a couple of months ago) the charting fundamentals looked pretty sweet.

I decided to take punt on it at 59c, my friend did not.
He is spewing.

Question is (as always) - when will it run out of legs?
I'd love to hear the opinions of the iron ore experts out there - is this up and comer the next big player in the mineral boom or just another speccie that will blow up in our face?
 
Wow, up another 12% today.
Perhaps someone could post a chart here and then do the same on the "Outstanding Breakouts" thread.
I'm surprised there are not very many people interested in this one.
No-one seems to be posting, so I assume no-one follows this.

Nearly a Triple bagger for me. Should have bought more at 59c.
 

they have a bagload of magnetite. just mind boggling amounts.

the next announcement should be about tying in with a chinese partner to develop it, and then you saw what happened with MMX
 
AGO were featured, along with BHP and RIO, in a 60 Minutes story this evening on the mining boom in WA. I wonder if that will increase the interest in the stock?
 
It's on my watch list for today. There were some encouraging announcements throughout April/May/June which have pushed the price up very quickly. It's another one of those companies though that you have to ask if the run will keep going/when will it settle.

I know they plan to be mining within months but funding could be an issue. Current market cap is $206,000,000. Cash in bank is only $330,000, with $19mil in deposits. Currently there is no infrastructure to support the proposed mining site, and (as outlined on last night's report) one series of blasting can cost up to half a million!. There are currently 90,000,000 shares outstanding which may fund operations??? I'm a bit cautious about this one as compared to other iron ore juniors it may be overpriced already.

I think last night's media may give it a little push today though!
 
Have just had a look at market depth pre-open. Buy range $1.81 - $1.53 (Friday close was $1.50). People love 60 minutes don't they!
 
Im happy to sell to 60 minutes watchers at this point.

Well see when to buy back in once this TV inspired rush drips off.
 
Nothing on the ASX website to suggest what the suspension is about - just an impending announcement.
Probably hasn't been a bad time to be "suspended"!

Perhaps something to do with it's transport deal with Fortescue....

Let's just hope it's good news - god knows investors could do with some lately.
 
They were supposed to put out an announcment yesterday but instead they got suspended, how long can this go on for, I mean when will this announcment be released?
 
Here's some food for thought. The day before being suspended 800,000 options were exercised. Coincidence maybe.
 
a lot of investors out of the market at the moment.

how does AGO really stack up as an iron ore play?

you look at the 60 minutes clip, would all exploration companies have thought so of confidence.

you would want to be able to deliver.

Niagra mining did the same thing last year when it was around 30 cents.... there wasnt the same interest back then in iron ore as there is now so it would seem.

Is AGO the real deal, that is the question.

How does there resource compare to FMG?

is it just a drop in the ocean resource size?
 
I got in late with AGO at around $1.33..... still making happy profits though
Does anyone have any thoughts on when this upward rush is going to stop? is the current $2.20 odd over priced?
 
well more good news out , more DSO and more drilling to come with potential resource upgrades. Could be a good time to buy up today on overall market weakness if the ASX is down.
 
Iron is just going sick atm. Are the valuations getting lofty? Is it just trading behaviour driving these prices up? Who cares I suppose if you are making money out of it. I expect this ann will provide more support in this environment..
 

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