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FMG

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$19.54 fortescue ltd

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jacinkoland

383 Posts.

90

16/11/23

09:27

Post #: 70930781
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Originally posted by Greatone: ↑

Hi Barrington.
My opinion (since you asked) is its a silly question. A better question is about the quality of the underlying FMG business and whether thats reflected in the share price. Dividend fluctuations year to year will depend on the iron ore price which nobody can forecast. The long term though will be determined by the quality of the business over the cycle.

FMG's achilles heel is its lack of inventory of ore bodies. Relative to the other Pilbara majors it just doesnt have the same depth of inventory. But its great advantage is the visionary leadership of Andrew Forrest who is strategic and forward thinking whereas the other Pilbara players are just "managed".
You see the results of that situation in things like the IBO project. Andrew has led the company towards developing a high grade magnetite product. None of the other Pilbara majors have even drilled for magnetite much let alone developed it.
The long term dividends will depend on how skillful Andrew Forrest is with his investment decisions. And whether his smart investments are enough to diversify FMG away from direct shipping Pilbara ore long term since its inventory wont support that as well as its competitors.
Personally I am positive I think AF is Australia's greatest ever business leader and i think FMG gives us a unique opportunity to have our money looked after by such a skilled man.

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Doesn't FMG have the largest tenements of any Pilbara Company? I am sure I saw that somewhere Enormous regions of mining leases yet to be explored or developed fully

FMG Price at posting: $25.18 Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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