Anyone notice who was talking up the takeover of Atlas?
Meanwhile, the true value of Brockman continues to be revealed:
In addition, Atlas has the ability to boost its capacity to 46.5 million tons through the South West Creek project being developed in a joint venture with Brockman Resources Ltd. (BRM), at an estimated cost of A$2.5 billion, according to a Feb. 29 presentation to investors.
Like Fortescue’s new capacity, Atlas’s additions will be in the port’s inner harbor, a zone that’s closer to existing rail lines and which Adrian Prendergast, an analyst at EL&C Baillieu in Melbourne, describes as the “prime location” in the port. Compared to what BHP will spend on building the outer harbor, acquiring Atlas would be cheap, he said.
And who is the only broker quoted in this story? EL&C Baillieu, you might know them better as Holdex Nominees, Wah Nam's henchmen in Australia.
