AF could be sending FMG into the grave if the bulls*it with...

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CashedUpBogun

8,334 Posts.

914

19/05/24

13:10

Post #: 73899840
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Originally posted by tomboy: ↑

Ask AFAF how he became Ozs richest man?
From near bankruptcy in 2003 to $24B in 2024.

Well ill tell you, read Burrells book, "Twiggy".
ANL was the start, him & his mates turned that 1c stock into a $4 stock using $4B yankee junkbond debt to build a stranded laterite Ni mine/mill at MM then were piling out all the way down to 0c liquidation stuffing the locals (sound familiar?).

using that money he escaped to Hong Kong pumping funds into swiss CS and started up a new miner FMG at 1c on stranded IO mines & same again used yankee junkbond debt this time $14B to build IO mines/rail and taking a Port Hedland port berth to compete with RIO BHP who tried to destroy it many times.
The SP went to 10,000c then consolidating to $5 ps
Then IOP collapsed and it almost went bellyup as the yanks called on the bonds but his secret swiss bankers at CS suddenly came to the rescue (not) and refinanced the debt and then IOP tripled and he made $20B with SP now $25 ps with high dividends pa.

However in Ni his dreams became nightmares again and again and again.
ANL then POS then Noront then MCR, all massive failures for him and all his own fault listening to poor advice and allowing mass dilution of his ownership with too much junkbond debt.
Ironically it was POS that had all the assets to make him a NI fortune but he backstabbed all his mates and staff there diluted it to nothing and then even worse sold his stake down to nothing while burning $1,200M cash on looser black holes Noront & MCR with NO MILLS.

POS dont need AFAF anymore
MINRES deal proved it even though it failed.
We got W, LJ & BSwan and NP is UP & Li is everywhere at LJ.
POS has the famous name and mine plus the famous BSwan & LJ projects, so the -

Poseidon bubble is coming back to here imho.
0.50c to XXX.XXc?

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AF could be sending FMG into the grave if the bulls*it with renewables and hydrogen continue.
He's already lost the mrs. I think he's gone mental. the emperor wears new clothes mate.

POS Price at posting: 0.6¢ Sentiment: None Disclosure: Not Held
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