Today I was a bit shocked with the 6 monthly report. $19m profit for 6 months. Is this for real?? Am I missing something?! If so, it was so much lower than some expected. Equates to a SP of about 4 cents (PE=10). That's where we are now. Should go up.
This result was very bad and rcman summed it up perfectly at 10 to 10 this morning.
Imagine if FMG performed at an equivalent level.... 85m tonnes in 6 months equals 200m profit. This equates to a SP of about a buck 30.
No surprise AGO's SP is where it's at. There's no real chance of options getting close to the exercise price at this rate. I said this before.
I'm sure the lenders knew all about these figures for some time.
Anyway, still hold FMG and AGO.
Today I was a bit shocked with the 6 monthly report. $19m profit...
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