Everyone needs to take a step back although good discussions are...

Everyone needs to take a step back although good discussions are positive for the members of hotcopper.

I own both FMG and MIN and have a very nice average price for both with $4.33 for FMG and $8.56 for MIN.

I think FMG is significantly undervalued due to the market perception that its not diversified. And yes it's true, but BHP and RIO has around 80% of their revenue sources from Iron Ore so how much more diversified are the really? So FMG's discount is overdone by the market and also by brokers who have wanted to hold FMG back and still do.

Also it's hard for the market to price in the potential of the energy ambitions of FMG at the moment until more concrete details emerge.

FMG has one of the best divy yields on the ASX.

MINs strength is it's a little more diversified. Yes it has the constantly growing crushing and processing service but majority of those external contracts are also with iron ore plays.

The biggest advantage MIN has is it will grow to 80-90 mtpa by 2023 which is massive growth pending the approval of berths. Also as mentioned, lithium upside etc.

But they are similar companies in that both are heavily involved in Iron Ore and both have outstanding management teams.

Overall a good result by MIN and very happy with the dividend. Would like to see them trim down the costs but perhaps that will be achieved as production increases. Even though it's hard to keep up with all the projects MIN has going on, I believe from memory they were upgrading their mining fleet which should drive down costs.

Was pleasantly surprised to see that MIN has a stake in PLS which I somehow didn't see earlier and they realised a gain on that holding.

Hopefully lithium prices pick up soon and it could contribute more heavily to earnings.

Looking forward to see the results of the energy exploration later this year.