The current EV for FMG is apprx A$12.27b.
If one were to compare '08 earnings for RIO's Hammersley iron deposits & Fortescue, then RIO are better placed with higher earnings multiple. Higher the production, higher is the revenue.
RIO's Hammersley Operations
Gross Sales Revenue: A$16932m (convt to A$ at 65c exch rate)
EBITDA: A$10827m (a/a)
Prodn: 108 MT (apprx 70% frm overall operations 153.4MT)
FMG
GSR: A$1464m
EBITDA: A$612m
Prod: 15.56 MT
RIO's Ebitda multiple for '08 stands at 17.7x that of FMG ($10827/$612), whilst their proportional production for Hammersley was 6.9 times higher.
Chinalco paid US$5.15b or A$7.92b for a 15% stake in Rio's Hammersley. They could easily have taken a big proportion of FMG with that A$7.9b, IMO.
cheers
what does rio sale value fmg at?, page-2
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Last
$18.49 |
Change
0.390(2.15%) |
Mkt cap ! $56.93B | |||
| Open | High | Low | Value | Volume |
| $18.32 | $18.62 | $17.94 | $159.1M | 8.651M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 150 | $18.46 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.50 | 4305 | 5 |
View Market Depth
| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |