July 8 (Reuters) - Atlas Iron Ltd AGO.AX :
* Forward sales arrangements are providing atlas with a measure of near-term protection against iron ore price falls while retaining some exposure to price upside
* Has sought to establish strategies that mitigate its exposure to iron ore price volatility in the near-term
* 2.06 million wet metric tonnes of production for the September quarter and 0.4 million wmt of production for the December quarter subject to some form of price insulation
* We have retained some exposure to iron ore price upside"
* Company is currently completing a capital raising that has already received significant support from Atlas' contractors
* Purchased iron ore put options which provide a floor price while allowing atlas to retain full exposure to any price rise via floating-priced physical sales contract
* Shareholders have a priority right to subscribe for new shares at 5 cents, with 1 free attached option at 7.5 cents.
* Atlas has approximately 900,000wmt of forward sales in place at a fixed price
* Has 400,000 dmt of 62% fe puts in place which if exercised, will see Atlas realise prices of between US$53 to us$54/dmt for 300,000 tonnes in July
* Source text for Eikon ID:nASX6fkXg5
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