1) The 30000 or so jobs cancelled were jobs that were projected to be created but will now not.
2) It is not Fortescue's or Twiggy's job to decide whether the Solomon/Chichester projects go ahead. If the financiers have pulled out then they've pulled out... there's no money forthcoming for the projects = no project. Scaremongering? just the new reality. See the fall in the AUD past few weeks? yep that's foreigners exiting and locals switching to foreign currencies/gold/silver. Hollow threats? AUD down 10%+ against the USD, EUR, GBP, CAD, BRL... you name it, the world has exited the Australian stage.
The only spinsters I see around are Kev and Wayne, both without a clue. They seem to even think the fall in our currency is due to the Euro crisis... when throughout the whole crisis since Nov the AUD has trended from 1.70 to 1.22 against the EUR, past couple of weeks? 1.22 to 1.55. The writing's on the wall, the CRISIS is in OZ!!!
FMG Price at posting:
$3.72 Sentiment: Hold Disclosure: Held
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