Ann: Agreement for Construction of Very Large Ore Carriers, page-11

look fmg are ok except for debt levels and production costs.that"s why a P/E of 3.5 is still not acceptable. it"s a nervous market out there,investors need stability not pipe dreams,that's why once again you saw red at close again today.ok,i must admit that i previously said that they were a possible takeover target,but that's a bit far fetched. i now realise,that due to their 155T size,even that possible upside for shareholders is out of the question.
the problem with fmg this time is not encouraging.of coarse twiggy is going to attack this issue head-on,that"s the only way he knows.only problem is that he is just playing with numbers and his ego,but the poor guy holding on to his shares bears the full brunt which inevitably impacts on his livelihood.
hope it works out anyway
cheers crazypunter