I am impressed with both your posts
@rookstar and
@Greatone.
The company is the 4th largest in its space and arguably one of the lowest cost producers of Iron Ore in the world. Its not a product that can be replaced and even with China trying to bring online another source from Africa it will take many, many years and even then will only supply a fraction of their needs.
It will give China more diversity and another country to add as a source of supply but it wont have any major effect over the long term on the price of IO.
As far as FFI I am very excited about their future prospects. While other companies have been thinking about entering this new sector Andrew Forrest and the management team over at FMG have already started and have hit the ground with their feet running starting from years ago. Look at all the ground work over the last year, the deals done with others with expertise in the Hydrogen and Solar space and getting first dibs to government grants and tax incentives to get projects in Australia and other countries.
Andrew is not only a very intelligent driven individual he is also one Australia's best salesmen in getting projects and deals done. I have put many of FMG detractors on ignore because they are clearly jealous of Andrew Forrest success and continue to say its all down to just blind luck. Funny how these people have plenty of time to knock Australia's superstars in business and industry all day long but have not risked it all like many of these business founders and rewarded themselves, their shareholders and Australia to boot.
A certain type of flying boar on this forum tells us all these pie in the sky projects are at least decades away. You only have to look at the before and after shots of many of FMG mine sites to see untouched land to fully functioning mining sites within a two year time frame. Andrew does not accept laziness or average performance from himself or his employees and like Elon Musk he gets stuff done in time frames competitors just cant fathom.
Its all great to see all these FFI announcements but the big turning point is when we see these projects go online and better still when they start to add to FMG's bottom line. I have been very happy with our investment in FMG and intend over time to add another 200K of shares to make a nice round number from the proceeds of future dividends in the dips.
Make sure not to invest with borrowed money and be in danger of being stopped out and make sure that your FMG holdings are part of a balanced portfolio.
GLTAH
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