Iron ore price, page-1555

Hi Franke and team FMG.

I have a question around debt levels states in the report.

4.3 Billion gross debt-

When you add the 2022 debt up it =approximately $3.63 Billion

Excuse my ignorance but why the $700millopn difference?

Is this boats ,or tax ?

Helping understanding this would be appreciated


Also why did FMG not move on the $976 million 2019 debt at end of May - mid June, instead of locking themselves into a non debt repayment situation until March next year. ( has anyone actually have confirmation from FMG itself, that they are not able to repay debt any earlier? )

I can only think they have protected themselves from Lower ore price in the near future? Focus on paying tax bill, dividend and or both of these things and a acquisition.

Acquisition, move opposite to their committed strategy of debt repayment and dividends

I would value Franke , and others opinion on the above

Kind regards

MJAK

Go FMG