"Any positive news around the forums"?.
I will give you some positive news.
1. FMG is an iron ore company with a low cost of production receiving the historically high price of over USD100 per tonne for its ore. Times are excellent.
2. The AUD is at 0.73 to the USD which is quite low so in our local currency FMG is making money at a massive rate.
3. Twiggy Forrest is one of Australia's all time great business men still young enough to be in his prime. Twiggy is leading FMG. He has a record of appointing excellent executives.
4. Twiggy was ahead of the pack yet again with green hydrogen. He is leading FMG into huge investment in this. Every other company is now talking renewable energy but Twiggy started focusing on it years ago and so FMG is an early mover.
5. Balance sheet. FMG has zero net debt. It has far more cash in the bank than it owes in loans.
6. FMG is cheap. On a PE basis the shares are low. Buying them gives you a lot of earning per dollar paid.
7. Grade is king. The iron ore grade premium is enormous. Yet again Twiggy was years ahead of the pack with the IBO project. It will be commissioned next year and produce about 20mtpa at 67% Fe.
8. Licence to operate. FMG are excellent citizens. Unlike Rio which treated the aboriginals so badly blowing that gorge up Twiggy has spent a lifetime focusing on helping to develop the aboriginal people.
9. Chinese relations. Twiggy again has focused on this. He knows the Chinese are our customers and focussed on these relationships. As the Aussie government argues with the CCP Twiggy has relationships that will help FMG keep doing business.
10. Dividends. I bought in 18 months ago at about 9.50 per share. I just received a fully franked dividend of 2.11 per share. That is for just one half year. FMG is paying my kids private school fees.
Was that enough positive news or should I keep going?
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$17.73 |
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Mkt cap ! $54.59B |
Open | High | Low | Value | Volume |
$17.86 | $18.00 | $17.67 | $106.1M | 5.956M |
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No. | Vol. | Price($) |
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1 | 3136 | $17.73 |
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Price($) | Vol. | No. |
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$17.76 | 10562 | 2 |
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No. | Vol. | Price($) |
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1 | 3136 | 17.730 |
1 | 7750 | 17.720 |
1 | 7918 | 17.710 |
4 | 10326 | 17.700 |
11 | 48695 | 17.690 |
Price($) | Vol. | No. |
---|---|---|
17.770 | 15897 | 2 |
17.790 | 1400 | 1 |
17.800 | 18842 | 5 |
17.810 | 86849 | 1 |
17.820 | 35466 | 2 |
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