Accaeric,
Thanks for the posts. You pick up stuff I don't. A couple of things stick out though.
1. JPMorgan is a net seller in your broker activity. JPMorgan managed the recent secured loan. My bias is that they should know FMG's situation pretty well. And they are a net seller.
2. In May FMG presented to Maquarie. The pdf is available. Page 9 details their "cost reduction journey". They don't hit all in costs of $31 until fy 2016 in that May presentation. For the second half of 2015 they were projecting 25+10+2+4 = $41.
Aren't you assuming they've achieved the targetted $31 all-in-cost already?
Iron Ore Price, page-499
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$22.10 |
Change
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Mkt cap ! $68.04B | |||
| Open | High | Low | Value | Volume |
| $21.99 | $22.22 | $21.87 | $84.79M | 3.834M |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 9803 | $22.09 |
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| Price($) | Vol. | No. |
|---|---|---|
| $22.11 | 10620 | 3 |
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