Atlas - initially a gold explorer -listed on the ASX in late 2004 under the leadership of young geologist David Flanagan, a former exploration manager at Gindalbie.
The company listed with just 24.5 million shares on issue after raising A$4.5 million in a 20c initial public offering.
The company had four Pilbara projects, with a focus on gold, but one of the company's first moves within a month of listing was to commission a review of its Pardoo project, which was considered prospective for iron ore.
The review confirmed the potential and by May of that year, rock chipping had returned grades of more than 61% iron.
A successful drilling program followed and Atlas expanded the project in September 2005, and in October, raised $6 million to advance its new focus.
Momentum continued to build and by March 2006, the company had changed its name to Atlas Iron.
Atlas raised another $23.8 million that year at more than double its IPO price.
Studies on Pardoo followed in 2007, which saw the company raise $85 million at $1.43 per share through long-time backers Hartleys.
Later that year the company announced its second major discovery at Abydos and importantly, secured access to Utah Point, something that was a drawcard for Mineral Resources.
Atlas reached a major milestone in May 2005 when it was admitted to the S&P/ASX 200 as its share price hit a new high of $4.
Pardoo mining began in October 2008, followed by the first shipment in December 2008, the same month it announced a new DSO discovery at Wodgina.
Atlas was named the Digger of the Year at Diggers & Dealers 2009.
"When you wake up tomorrow morning, reach over, pick up a shovel, go out and dig a hole and set yourself free," Flanagan said when accepting the award.
Atlas shipped 1 million tonnes of DSO in its first year, but the company was eyeing further growth.
The company announced a merger with Warwick Resources late in 2009, and in early 2010, a similar deal to combine with Aurox Resources.
In April 2010, Atlas took advantage of strong iron ore prices to raise another $63.5 million at $2.49 per share, reaffirming plans to reach iron ore shipments of 6Mtpa by the end of that year, 9Mtpa by the end of 2011, and 12Mtpa by 2012.
Atlas announced its biggest deal yet in late 2010 when it launched a friendly $828 million takeover of Giralia Resources, creating an enlarged $2.5 billion company.
Atlas reported a maiden $30 million half-year profit in early 2011 and in June of that year, launched a friendly takeover of FerrAus to consolidate ground in the South East Pilbara.
Early 2011 also saw Atlas admitted to the S&P/ASX 100, where it remained until late 2013.
Atlas reached a milestone in early 2012 when it shipped its 10 millionth tonne of iron ore.
In early 2012, Flanagan became chairman and chief development officer Ken Brinsden was promoted to MD.
In late 2012, Atlas secured a US$325 million loan to fund its growth, a facility that would almost finish the company only a few years later.
As the company celebrated its 10th anniversary in late 2014, storm clouds were brewing in the form of lower iron ore prices.
Atlas had thrived when iron ore prices reached record highs of around US$180 per tonne, but as it fell below $80/t, the company came under increasing pressure.
In December 2014, it cut 80 jobs to save A$15 million a year and remain competitive.
In early 2015, Atlas was removed from the ASX 200 as iron ore prices - and the company's share price - continued to plummet.
Things came to a head in April 2015 when Atlas suspended all production.
Flanagan returned as MD to help save the company, which was drowning in debt and bleeding cash.
Atlas was days away from calling in the administrators, but inked an innovative profit-sharing deal with contractors that allowed the company to restart operations.
In July of that year, Flanagan later said the worst was over, despite the iron ore price remaining under US$50/t.
"If I woke up and had someone hit me with a cricket bat every morning for the next four weeks, it would still be easier than May was," he said at the time.
The company raised $86 million of a targeted $180 million at 5c per share to strengthen its balance sheet.
Just before Christmas 2015, Atlas announced it had signed a restructuring deal to refinance its debt, which would see it fall to $135 million from $267 million.
The catch: lenders would wind up with the bulk of the company.
The debt deal passed in early 2016 and Flanagan announced he would leave the company.
"Being the managing director of a company where you're constantly playing from a position of defensiveness and often weakness, means that you sort of have to find ways to negotiate and points of leverage, which is very difficult, it is," Flanagan said at the time.
Former FerrAus boss Cliff Lawrenson took the helm shortly after and the turnaround continued.
The company posted a December 2016 half-year profit of A$18.9 million and reduced debt to US$118 million.
By October last year, Atlas was in a net cash position with cash of A$114 million and debt of US$103 million.
Despite remaining cashflow positive in the December quarter, Atlas posted a December 2017 half-year loss of $21 million.
In January, the stock hit a 52-week high of 4c as the diversification strategy gained legs with the signing of a DSO lithium agreement with Pilbara Minerals.
"We see positive catalysts for the stock include 1) further Atlas infrastructure utilisation via lithium DSO agreements; 2) updates on royalty monetisation; 3) further debt reduction; 4) development updates on further growth opportunities in iron ore and other commodities," Foster Stockbroking said last month.
Lithium and manganese exports are expected to start this month.
