Can FMG survive? I don't believe it can in it's current form. It...

Can FMG survive? I don't believe it can in it's current form. It still has way too much debt. It needs to do a cap raising and should have done multiple cap raisings a long time ago. There is an epic glut of iron ore and prices will continue to slide until enough production is shut. There is only enough room for 3 big producers and i believe Vale, Bhp and Rio will be left standing. Although you never know fmg may outlast Vale, but i highly doubt it. As Vale will probably be propped up by the Brazilian government.

It is sad really as i really admire Twiggy and his amazing achievement in creating a mega mining house in under ten years. No one else could have achieved this. So it will be sad to see such a great Australian success story toppled. It is my opinion unless fmg undertake urgent action immediately they are doomed. That action needs to be an immediate capital raising. Any type of deal that can bring in a partner in the form of an equity or infrastructure partner. And Cloudbreak must close as at these prices its underwater. If this action is not taken in my opinion fmg will go into administration and will be snapped up for peanuts. I wanted to write more but my battery is dead. I sincerely hope im wrong.