Atlas Iron (AGO)

[Daytr]

All in cash cost? Does that include capex cost? All in cash cost normally refers to all in operating costs including admin & head office costs as far as I'm aware. All in sustaining costs should include capex & the like.

[gazprom1]

All in cash cost? Does that include capex cost? All in cash cost normally refers to all in operating costs including admin & head office costs as far as I'm aware. All in sustaining costs should include capex & the like.

Includes expensed exploration and evaluation.

[gazprom1]

AGO has been decimated by the iron ore price fall.....low of 13 cents a few weeks AGO. Up 40% today. Now 23 cents. Looks like they are able to survive a current levels...highly leveraged to ore price. Time will tell.

[Joshuatree]

AGO in voluntary suspension pending an extensive outcome of companies outlook, operations , asset sales opps and capital structure in light of rapid fall in iron ore price. Tip of the iceberg?

[Westboy]

Yep first of many over the next 6 to 12 months around the world.

[JBmurc]

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 company’s decision, announced on Friday, was not unexpected after Atlas asked for trading in its shares to be halted to allow it to work out its immediate future as an iron ore miner and exporter.

[Joshuatree]

On a side issue ; Maca (MLD) have lost the contracts for AGO which was $4-$5mill a month. Maca however advises that it anticipates NPAT will exceed the $55.4 million which was achieved in FY2014. Mkt cap currently re $188 million.S/P up .05c a day later, so mkt doesn't believe mgmt or is numb to all M/S companies still and the Macro looks bad for years .Cant resist looking at these in a contrarian(danger danger!) way.

[Westboy]

Well at least MLD isn't as effected as MCS. They are in a deal of trouble over the AGO closures. MLD does have some large exposure to other iron ore projects which the market is factoring in right about now. Iron ore is the most abundant commodity on the planet, and we have a gigaloop ATM, more supply means lower prices which means miners increase production to lower costs which in turn leads to more supply and lower prices again. If you own any business with exposure to this sector then take a very very close look at that business IMHO! This wont end well!

[Daytr]

Will FMG follow? Their massive debt makes them vulnerable. AGO had plenty of options & advanced notice & they took none of them.

[Westboy]

Yep

Sinosteel suspends mining operations

https://www.youtube.com/watch?v=NeMrttj8Ucg