info on fmg, page-6

Oh OK, I thought the hurdles were going to be something like:

1) Reserve not performing so need bene plant earlier than planned and also open Xmas Creek early to scavenge what little high grade there is;
2) Big enviro issues concerning dewatering Cloud Break and Xmas Creek and introducing hypersaline water into Fortescue marsh freshwater system;
3) Debt up to the eyeballs;
4) Worksafe prosecution pending for deaths at rail camp, 08/03/08;
5) ASIC investigation pending regarding those Chinese off-take contract ASX announcements that well, weren't contracts they were agreements to agree (although some became contracts);
6) Want to ramp up to 120mtpa but can't make 35mtpa;
7) Pesky small producers wanting to use his '3rd party access rail and port facility' - 'oh sorry boys, we've changed our mind'. Twiggy could never give you a straight dollars per tonne on this one;
8) Using those ridiculous Wirtgen surface miners that cost lots to shift ore slowly, but are the only way to control dilution in the Chichester orebodies
9) The need to constantly generate rumours of pending take-over to bouy the share price each time it drops below $2;
10) Shipping default costs amounting to approx $250 million;
11) Lack of institutional support in capital raising - 'oh we don't need that money anyway...';
12) But at least his mates at Harbinger wont be shorting FMG quite so much now they've sold out.

Apart from that, it's all plain sailing on the Good Ship Twig.

Down-ramping - buy as many as you like chaps, but don't up ramp based on imaginery take over deals.