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Atlas Iron's shares soar while also being the ASX Volume Leader at noon

Atlas has traded $6 million worth of shares in the first two hours of 2018.
Atlas Iron's shares soar while also being the ASX Volume Leader at noon
The most active stocks on the ASX intra-day

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.

Company Name Code Last Change Volume
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
Reffind Ltd RFN $0.050 8.70% 35,955,565
Vector Resources Ltd VEC $0.032 3.23% 34,530,112
Winmar Resources Ltd WFE $0.005 25% 27,684,152
Chapmans Ltd CHP $0.012 9.09% 17,930,794
South East Asia Ltd SXI $0.032 14.29% 15,939,478

 

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