Iron ore price, page-46624

Hi JP Guru. I have been watching this discussion with some amusement from the sidelines. You are trying to be a bear and talk FMG down but its clear that you have not even read the reports for the companies you are talking about. If you want to truly be a bear and scare people then you need to read and get information. At present you have just cottoned on to a soundbite that says FMG produces 58% grade product but you don't actually seem to know any more than that. Did you even know that FMG doesn't actually produce 58% grade?

Here is my first tip for you. Stop talking about Rio. If you had actually read the Rio report you would realise Rio is in trouble to maintain its production without Simandou. Rio has proven and probable reserves of circa 2.5B tonnes in the Pilbara (annual report page 356) versus production of about 330MT (page 4). So Rio has only got about 7 or 8 years of ore left without bringing on either Simandou or else proving up more ore with drilling. Either of these options is very risky so Rio is hardly the safe bet you make it sound when FMG's reserves are looking much more solid. Again - read the report. Its all in the Rio Tinto annual report which is on their website. Rio production is a massive risk and their report makes this clear.

Here is my second tip. If you want to be an FMG bear then read the FMG reports don't just rely on soundbites. If you actually read the FMG report you would see that IBO looks like it is in more trouble and there is a high risk of more delays. Iron Bridge is forecast to produce 1mt of product in FY23 (FMG quarterly page 5) and start production in the March 23 quarter (page 3). How does that work since Iron Bridge is a 20mt+ per annum operation? Its pretty clear how it works and that the project has been delayed further and that FMG has indirectly told us this in its quarterly report. So if you want to be a bear then there is good material here to be a bear about. Talk more about Iron Bridge that will make you much more scarey in your comments. It just requires you to do some research.

JP Guru you are good for entertainment value with your constant sniping. However if you want your role to be a genuine negative voice on this forum to balance the positivity do some work. Read the reports. Don't just quote soundbites.