Bell Potter has come out today with a very benign report after a visit last week. As for the banks, and Fairfax press, well, anyone who followed their advice would never have gone near Fortescue all the way from zero to $13. They got it wrong and they hate it.
None of the above mentions the massive savings (50%) in store via the change from diesel to gas (currently FMG spends $800m pa on fuel), autonomous trucks, and other positives in train.
As for BHP and RIO, how would you feel if the company you once criticised as having nothing more than rusty nails, was now giving you such a hard time? I would say, pretty silly.
I think the whole scene is entertaining, with some supposedly smart people, making total berks of themselves.
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