What’s next !!!! China stays stern or needs to keep the economy going, page-13

First 13 Last

Share
Profile

Follow
irynka

2,160 Posts.

322

04/10/21

08:58

Post #: 56537200
Share

Originally posted by Greatone: ↑

"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?

Expand

Here is a just minor but very important addition from the most latest company announcement made last Friday after resuming operations at its Solomon Hub following the temporary suspension of mining and processing activity on 30 September 2021 as a result of the fatality of David Armstrong

"Fortescue’s guidance for FY22 shipments, C1 cost and capital expenditure remains unchanged. "

FMG Price at posting: $14.57 Sentiment: Buy Disclosure: Held
11 Upvote

0 Great analysis

Reply

Top Stories

YAL

Yancoal makes it into the ASX200 in latest S&P rebalance

GDC

Global Data Centres not clear on future operations after AirTrunk sale payout

RMX

Red Mountain Mining: record gold prices, two projects, two greenstone belts

CBL

Control Bionics expands into UK and Irish markets with NeuroNode device

CNB

Carnaby Resources hits copper at Mohawk, QLD

There are more pages in this discussion • 3 more messages in this thread...

First 13 Last

Add FMG (ASX) to my watchlist

(20min delay)
Last $16.21		Change 0.085(0.53%)		Mkt cap ! $49.84B

Open	High	Low	Value	Volume
$15.98	$16.29	$15.91	$69.65M	4.318M

Buyers (Bids)

No.	Vol.	Price($)
16	5769	$16.20

Sellers (Offers)

Price($)	Vol.	No.
$16.21	33	3

View Market Depth

No.	Vol.	Price($)
17	5918	16.200
15	10791	16.190
19	11903	16.180
15	15249	16.170
9	20536	16.160

Price($)	Vol.	No.
16.210	1398	7
16.220	8446	12
16.230	11456	14
16.240	17896	13
16.250	10963	9

Last trade - 12.48pm 09/09/2024 (20 minute delay)

FMG (ASX) Chart

What’s next !!!! China stays stern or needs to keep the economy going, page-13

Yancoal makes it into the ASX200 in latest S&P rebalance

Global Data Centres not clear on future operations after AirTrunk sale payout

Red Mountain Mining: record gold prices, two projects, two greenstone belts

Control Bionics expands into UK and Irish markets with NeuroNode device

Carnaby Resources hits copper at Mohawk, QLD

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

What’s next !!!! China stays stern or needs to keep the economy going, page-13

Top Stories

Yancoal makes it into the ASX200 in latest S&P rebalance

Global Data Centres not clear on future operations after AirTrunk sale payout

Red Mountain Mining: record gold prices, two projects, two greenstone belts

Control Bionics expands into UK and Irish markets with NeuroNode device

Carnaby Resources hits copper at Mohawk, QLD

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News