Ann: Management and Organisational Update, page-145

At what price to buy?
I was too, only by the fact that FMG was under selling pressure for a number of reasons. Goldman Sacs lowered there target price to $15.50, (it may well get worried down to there, but I don't trust that organisation. I feel sure they will be buying above their recommendation price. BUT at the end of the day, for a yield of 12.7% FF I don't mind any possible short term over payment, as I feel the SP will rise again. Call it FOMO, but this is a long game for me. More of a concern is the down turn in Chinese economy for the short term, but FMG have free cashflow and are paying (still) a high FF dividend. The buyer / seller spread appears balanced. Greater than USD$100 per ton verses less than ~$20 cost. Prices can continue to fall, FMG are producing record output so the buying price to average down doesn't concern me too much. The way I look at it is teh SP will appreciate again, I won't be selling my holding while it is paying large FF dividends. I do recognise not everyone will have the same outlook.
Not investment advice just my perspective. Good luck