Markets

Gina Rinehart has won the battle of the billionaires for Atlas Iron

Mining magnate Gina Rinehart has won control of junior miner Atlas Iron in a battle of the billionaires. Her company, Hancock Prospecting, announced today its voting power in Atlas passed 90% and that it will compulsory acquire the rest. “We will now be turning our attention to how best to […]
Gina Rinehart has won the battle of the billionaires for Atlas Iron
Markets

Atlas Iron needs Gina Rinehart now more than ever as losses mount

Struggling iron ore producer Atlas Iron is feeling the pinch of market conditions and it’s forcing the company to dip into its pocket and cut back production. Although Atlas’ (ASX:AGO) full cash cost didn’t increase from the $62 per tonne it was in the March quarter, the company only received […]
Atlas Iron needs Gina Rinehart now more than ever as losses mount
Markets

Fortescue has grabbed a takeover-blocking stake in Atlas Iron

Billionaire Andrew Forrest’s pure play iron ore miner Fortescue Metals has acquired a 19.9% stake in Atlas Iron, enough to block Mineral Resources’s takeover. Fortescue announced it had agreed to acquire 15% of Atlas Iron at $0.04 a share, bringing its aggregate interest in the junior iron ore miner to […]
Fortescue has grabbed a takeover-blocking stake in Atlas Iron
Markets

Atlas Iron is going to Mineral Resources in a $280 million all-scrip deal

Atlas Iron is under an all scrip offer a 3.02 cents a share, a premium of 59%. The buyer is Mineral Resources Limited, a Perth-based company with a diversified portfolio including significant lithium resources. Atlas’s Pilbara iron ore assets will be consolidated with that of Mineral Resources, lower per tonne […]
Atlas Iron is going to Mineral Resources in a $280 million all-scrip deal
Markets

Atlas Iron has gone into a trading halt on reports of a coming takeover

Atlas Iron, which was an an early victim of falling iron ore prices, has gone into a trading halt with reports of an impending takeover offer. The company says it is preparing an announcement regarding “media speculation”. Mineral Resources, with a significant lithium business, is reported to be in talks […]
Atlas Iron has gone into a trading halt on reports of a coming takeover
Markets

Atlas Iron is on a tear

Shares in junior iron ore miner Atlas are soaring after a rating upgrade by Moody’s. A short time ago, they were up more than 14% to $0.016. Moody’s Investors Service upgraded Atlas Iron’s corporate family rating to Caa3 from Ca on the back of the company’s recent debt restructure. The […]
Atlas Iron is on a tear
Markets

Glencore has bought a stake in Atlas Iron

Multinational miner Glencore has become a substantial shareholder in troubled junior Australian resources company Atlas Iron. Glencore told the ASX it has purchased 8.47% of the iron ore miner. The stake would have cost about $15.8 million at $0.021 per share, the latest price. Switzerland-based Glencore, the world’s largest exporter […]
Glencore has bought a stake in Atlas Iron
Markets

Atlas Iron shares are going nuts

Struggling iron ore producer Atlas Iron’s earnings have picked up. The company posted underlying EBITDA (earnings before interest, taxes, depreciation and amortisation) for the six months to December of $20.5 million compared to a $14.8 million loss in the previous corresponding period. A short time ago, Atlas shares were trading […]
Atlas Iron shares are going nuts