We saw that $1.05 daily rise caused by the signing of LT deals with chinese mills and customers contradicting the political cloud of ever expanding chinese sanctions on Oz products due to the Oz Governments usual lapdog following of recent american anti-chinese policy & criticisms.
A Biden administration will make it business as usual with china imho.
FMG is the chinese sanctions buster!
Its a play on the chinese market rebound and its expansion to the largest global market surpassing the US in the next 10 years.
The catalyst to break 17.50 and propel this higher to 20 & beyond imho is:-
- paydown discharge of most of that $4B debt
- more chinese deals
- IOP holding at 120+ (as it is)
- massive entry of the BB2 team with aggressive on market share buybacks
- higher divys
- a large JV offtake & production deal in Nickel Ore
- refinery plans & budgeting
then we might smell more napalm in the mornings. ,
Burn them shorts BURN!
FMG Technical Analysis, page-5721
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Last
$18.97 |
Change
-0.300(1.56%) |
Mkt cap ! $58.40B | |||
| Open | High | Low | Value | Volume |
| $19.01 | $19.33 | $18.71 | $210.2M | 11.07M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1879 | $18.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.97 | 39173 | 3 |
View Market Depth
| Last trade - 16.10pm 09/10/2024 (20 minute delay) ? |
| FMG (ASX) Chart |