Atlas Iron's (ASX:AGO) shares have soared 16.1% to $0.036 intra-day, with over 170 million changing hands.
The company is by far the most active on the ASX.
Taking a longer view, shares in the company are up 75% over the past two weeks.
Providing the positive re-rating has been Atlas’ diversification strategy which is expected to generate strong free cashflow for a minimal capital outlay.
Under a deal with Pilbara Minerals (ASX:PLS), Atlas will purchase 1 million tonnes to 1.5 million tonnes of lithium DSO from the company over 15 months.
Pilbara Minerals will mine the ore at its Pilgangoora Project with Atlas taking ownership of the ore at the mine gate.
Atlas will process and transport the ore using its existing infrastructure, including its Mt Dove crusher and Utah Point port facilities
First export sales scheduled for June 2018 quarter.
|Atlas Iron Ltd||AGO||$0.036||16.13%||167,350,162|
|First Growth Funds Ltd||FGF||$0.032||88.24%||138,139,299|
|Serpentine Technologies Ltd||S3R||$0.015||15.39%||47,046,058|
|Zyber Holdings Ltd||ZYB||$0.020||11.11%||40,517,319|
|Latin Resources Ltd||LRS||$0.013||18.18%||39,318,696|
|Vector Resources Ltd||VEC||$0.032||3.23%||34,530,112|
|Winmar Resources Ltd||WFE||$0.005||25%||27,684,152|
|South East Asia Ltd||SXI||$0.032||14.29%||15,939,478|