Atlas Iron falls victim to plunge in iron ore price
The fall in the iron ore price is taking a toll with more junior miners being forced out of the market. Atlas Iron is the latest victim with the following release. “Atlas Iron Limited (ASX:AGO) requests a voluntary suspension in the trading of its securities, effective immediately. The voluntary suspension is requested pending the outcome of an extensive review of the Company’s operations, financial outlook, asset sale opportunities and capital structure in light of the recent rapid fall in the iron ore price.” As per our video discussion on the sector these junior miners will be casualties but due to their small scale are unlikely to have a material impact on the overall supply side of the situation.
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