I had a small nibble at $4.15 today as I simply thought the...

I had a small nibble at $4.15 today as I simply thought the value was too hard to miss in light of the recent forecasts and work in the area. If it goes down to $4 levels again i will add my dividend cheque back into it.

The only real macro risk is a complete downturn in global economies leading to closure of mines over the next 5 years and delays to projects, I dont see this happening. As soon as this happens there is an IO shortfall and prices go back up such is the global demand. Of course the otehr risk is the Labor party :)

I can see what Roger tries to do, I think he is highly attracted to FGE's cahs position, order book, acquisition war path, work in the sector, management, CLO JV etc. These all make up intrinsic value, I also note he had a lower value a while ago as the CLO JV was seen as a dud to him but now work is starting to flow from it he may have upped it some more. Roger is also about return on equity I think, and track records.

Good to see support for FGE around $4.15 even when the market was down 60+ earlier today.