Yes they have - to date. And FMG's price bakes in the naysayers' assumption that 35-40% discounts are not only permanent, but are only going to get worse.
Plug a reduced discount (something cautious - say 25%) into a basic model, and FMG's profits and cashflow become mouth-watering. In the meantime, the debt problem that held FMG's value down in recent years has been solved.
I like this scenario very much.
Iron ore price, page-6700
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Last
$21.41 |
Change
-0.260(1.20%) |
Mkt cap ! $65.92B | |||
| Open | High | Low | Value | Volume |
| $21.52 | $21.67 | $21.30 | $150.5M | 7.000M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 93 | $21.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.41 | 12657 | 3 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |