FMG is in more trouble than dick the dog and they need cash and they need it very very soon.....like right now!
This one is headed south imo big time and may soon be into double figure territory like .99 cents and less.....all the way to .20 cents come Easter.
Why? FMG has always been a specy stock. When it was the blue sky mine, prior to shipping, the s/p sky rocketed and continued all the way to slightly beyond $13.
Now with commodity prices tumbling and huge debt, I have a feeling this is going to resemble a Posiedon of the 1960s.
Twiggy's story will be a classic rags to riches to rags story which is a shame really as the guy has had a vision for WA and the mining industry here but I think he left his run about 3 years to late.
I have met the guy and he seems very personable and genuine although I know Anaconda leaves a bitter taste in mouths of those who had anything to do with it.
Well, when the going gets tough....the tough get going and it is getting very tough for Fortescue.
Law suits, Worksafe actions re maine site deaths, low grade ore, high debt, deminishing demand for product, share price being trashed, etc etc.......it is not looking good at all.
Shorting again come next week. _______________________________________________________
THE ABOVE IS NOT FINANCIAL ADVICE AND NOT DESIGNED TO BAIT, TROLL, FLAME, CREATE AN ARGUMENT OR OTHERWISE CAUSE OFFENCE TO ANY PERSON WHO SO-EVER IS ENTITLED TO DISAGREE WITH MY OPINION AS STATED IN THE ABOVE TEXT
FMG Price at posting:
$2.16 Sentiment: LT Sell Disclosure: Not Held
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