Atlas continues to lose money

TAKEOVER target Atlas Iron continued to lose A$2 per on every tonne shipped in the June quarter.

Atlas continues to lose money Atlas continues to lose money Atlas continues to lose money Atlas continues to lose money Atlas continues to lose money

The company shipped 2.1 million wet metric tonnes at C1 cash costs of $42/wmt, up $1, and full cash costs of $62/wmt cost and freight China.

However, like in the March quarter, the net Atlas CFR sale price was $59/wmt.

Development capital of $2.5 million was $800,000 higher than the March quarter.

Net cash utilised by operations was $6 million, after interest and financial instruments.

Atlas also shipped 85,000t of lithium direct shipping ore and 45,000t of manganese lump during the quarter.

For the full year, Atlas shipped 9.2Mt, within guidance of 9-10Mt, while C1 and full costs of $39/wmt and $59/wmt respectively were within the target range.

Cash on hand dropped to $57 million from $64 million plus $14 million in a reserve account a...

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