this thing is going to take off, page-4

HI guys,

ATN is trading in an upward channel. Today it probably reached the top of its upper channel. Given that the announcement wasn't that great - ie rig to be delayed, I expect this to retrace a bit, profit takers have to take profits.

However if they are sitting on what they claim, then the share price will be multiple times the price it is today.

I'll give you my reasons:
1) On the presentation, ATN mentioned that they are sitting on a resource base of 1 Million Oz of Gold (Keep in mind this tenement is close to NCM's 5 Million Oz gold mine - read presentation)
2) By spending certain amount of money on upgrades, exploration, they have the right to earn 85% of profits
3) If gold price remains around $1400, then potential revenue could be $1.4billion.
4) Even if I take that ATN is sitting on 40% of the resource, then they are sitting on about $560million of revenue. ATN's profit after everything could be say $280 million (50% discount)
5) ATN's market cap is roughly $42million at 6cents share price.
6) Imagine in 3years if they earn 280 million, which is 7 times today's value
7) Even if I discount my thoughts further, your looking at a SP of say 18-21cents?
Make sense? I have held this for almost 2 years, and will hold out for another few years - waiting for that 20cents SP.
Lastly remember Maquarie and Warwick Greigor are investors in ATN, they bought 20million shares each. These guys are init for a 5-10 bagger.

Either way, please DYOR, and goodluck
Cheers
Mayo