Yes they have - to date. And FMG's price bakes in the naysayers' assumption that 35-40% discounts are not only permanent, but are only going to get worse.
Plug a reduced discount (something cautious - say 25%) into a basic model, and FMG's profits and cashflow become mouth-watering. In the meantime, the debt problem that held FMG's value down in recent years has been solved.
I like this scenario very much.
Iron ore price, page-6700
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Last
$20.10 |
Change
0.700(3.61%) |
Mkt cap ! $61.88B | |||
| Open | High | Low | Value | Volume |
| $20.26 | $20.49 | $19.94 | $337.2M | 16.71M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 38056 | $20.09 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.15 | 20000 | 1 |
View Market Depth
| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |