Geezer's price target of $2.25 is actually very conservative. I would have thought sub $1.50 is actually more likely.
Word from insiders at Rio Tino suggest they are expecting Fe price of $80/tonne to occur within 3-4 months. They expect this level to hold (or go lower) over the next 12 months.
At that price, FMG becomes a marginal producer and their operations will be put on care & maintenance quicker than you can say "Twiggy should have sold out at $13".
Scary times ahead for iron ore and the WA economy in general. FMG may well become a horrific symbol of the WA mining boom collapse when we look back on these times in years to come.
I hope Geezer is wrong, and I certainly hope that I am also wrong, but the fact of the matter is we are not wrong, and we will be shown to be correct in the very near future.
- Forums
- ASX - By Stock
- FMG
- shorters having a field day
shorters having a field day, page-13
-
- There are more pages in this discussion • 7 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add FMG (ASX) to my watchlist
(20min delay)
|
|||||
Last
$19.84 |
Change
0.335(1.72%) |
Mkt cap ! $62.37B |
Open | High | Low | Value | Volume |
$19.98 | $20.30 | $19.74 | $94.79M | 4.736M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
9 | 1122 | $19.83 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$19.84 | 1242 | 11 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
12 | 3305 | 19.830 |
11 | 4407 | 19.820 |
10 | 5851 | 19.810 |
13 | 6187 | 19.800 |
11 | 3775 | 19.790 |
Price($) | Vol. | No. |
---|---|---|
19.840 | 68 | 3 |
19.850 | 3210 | 15 |
19.860 | 4429 | 13 |
19.870 | 4386 | 12 |
19.880 | 2833 | 7 |
Last trade - 13.00pm 08/11/2024 (20 minute delay) ? |
Featured News
FMG (ASX) Chart |
The Watchlist
EQN
EQUINOX RESOURCES LIMITED.
Zac Komur, MD & CEO
Zac Komur
MD & CEO
SPONSORED BY The Market Online