It's more the media spin, and how they keep trying to show that the sky is falling with the likes of FMG and Iron Producers.
FMG has been bashed for a very long term with a lot of naysayers and suffers of tall poppy syndrome. So when the cycle keeps repeating itself, I don't stand for it.
We will agree to disagree, I do think that management have done a good job with their budgeting, forecasting, projections and their overall strategic management. I don't think it just happened and they reacted to the events. I think they were proactive in a lot of their decisions and did not vacillate. Yes the cost overrun wasn't good, however besides this, FMG is a really good operator with sound management and an excellent board.
SP is undervalued and if you prepared to have a medium term view, good returns are heading your way.
FMG Price at posting:
$4.73 Sentiment: LT Buy Disclosure: Held
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