I tend to look at the Guinea adventure as better being in our hands than anyone else.
FMG can stretch it out as long as possible, like Rio, then even walk away, like Rio, and then that tonnage of ore has not entered, (or flooded) the market.
If a Chinese company wins the bid, you may find an irrational business case seeing mining and production start and the tonnage being used to help depress the price of ore.
Iron ore price, page-17113
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Last
$19.49 |
Change
0.320(1.67%) |
Mkt cap ! $60.00B | |||
| Open | High | Low | Value | Volume |
| $19.06 | $19.51 | $18.92 | $114.2M | 5.891M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1000 | $19.48 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.50 | 5200 | 4 |
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| Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |