Ann: Quarterly Production Report, page-47

Yeah Tomboy has been going on and on about paying down in his words ''toxic debt'' saying the lenders will screw the company over. He was trying to4 create a negative enviroment.

He went on about using all money to pay down debt and just have cash sitting in the bank doing nothing. How likely is it he might be shorting or just waiting for the company to build up lots of cash with little dividends and then buys in at a lower price then demand FMG to pay a special super dividend. As some have mention as well as myself why would you pay debt down so quickly when you are paying 2%-2.5% interest per year?

Invest that cash into to the company to generate more profits, gradually pay debt down slowly and reward shareholders with good dividends at the same time. This is way to go.

Concerning Iron ore prices assuming Covid 19 numbers (which are already very small) get back under control. Warmer weather coming in March/April 2021 could easily repeat the upwards march of the prices back to the 160-170 USD level. These next 4-5 weeks could be the weakest period for the whole year. Just started my chinese new year holidays. Won a 500aud rice cooker (lol not exciting missed out on the Apple product prizes again..) But was drinking Tiger beer into the wee hours of the morning with the expat community (co workers). Now have more time to post on here for the next 3-4 weeks. Happy days even with IO going under 1000Yuan today.