Billcan said
"FMG landed cost is just over $5% there is the $4-5 of finance cost (remember both BHP and RIO too have substantial costs,they also have massive debts on the books), $9 of depreciation and $9 of tax, depreciation cost is an accounting cost and taxation is proportionate to the profit, so I guess FMG management is feeling less heat than some flapping analysts and shorters."
Not sure if your typo $5% meant $55, but the company has specifically commented on that rate following a hack at AFR making up stories & figures. But, I agree with the rest of your post.
In their statement posted on FMG website, they said in part
"Fortescue's delivered cost to China for the six months to June 2014 was US$50 per wet metric tonne."
http://www.fmgl.com.au/Investors_and_Media/media_releases/News_Details/Response_to_AFR_article_241
Flip
iron ore price, page-43
Add FMG (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$17.73 |
Change
-0.210(1.17%) |
Mkt cap ! $54.59B | |||
| Open | High | Low | Value | Volume |
| $17.86 | $18.00 | $17.67 | $106.1M | 5.956M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3136 | $17.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.76 | 10562 | 2 |
View Market Depth
| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |