Hi Frank,
lets hope you are on the money literary.
I am interested in your thoughts on the next move by FMG management. By year end assuming IO price holds in this range FMG will have $2.6billion cash on hand . Add in $1.05 billion in first 1/4 ( $350 million USD per month) 2018 will have $3.6 billion cash on hand. Pay $0.30 Aud divi April ( $740mil usd ( $0.75 aud/usd) leaves approximately $2.85billion USD on hand, net debt position of $1.75 Billion usd . Will they pay $1.85 billion usd off debt or buy back shares. Nev has expressed his focus on the SP, saying increased dividends and good capital management should attract investors.
Great thing is the management have been so disciplined they have strongly positioned the company for the future, with many lever option at their disposal. Great thing is they recognise the importance of share holders, especially when one of the largest holders is the Chairman.
Regards
MJAK
Iron ore price, page-2830
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Last
$21.76 |
Change
0.350(1.63%) |
Mkt cap ! $66.99B | |||
| Open | High | Low | Value | Volume |
| $21.49 | $21.76 | $21.32 | $97.85M | 4.532M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 1380 | $21.75 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.77 | 28571 | 3 |
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| Last trade - 16.10pm 01/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |