The majority of Twiggy's wealth is tied up in his shares, so even he is going to suffer. It won't be long and he will no longer be classed as a billionare. He derives his income from dividends and i doubt there will be any more dividends paid out. Luckily he has used some of his dividend money to purchase dairy and beef assets. These will hold him in good stead, but he will no longer be classed as a billionare as fmg's share price continues to slide into the abyss. His Fmg shares may well end up worthless. It's a real pitty he has been so reluctant to do a capital raising. But as he holds around a third of fmg's shares he doesn't want to dilute his own wealth. But I fear it is this one mistake and that massive mistake is an absolute refusal to dilute his own shareholding that will ultimately be his undoing.
Once all the junior iron ore miners have closed that will be the time to close Cloudbreak. Until all juniors are closed cloudbreak has to remain open. Im not including Roy Hill in the Juniors category. It will be interesting to see how she plays this iron ore game out. She has very deep pockets and probably has the ability to prop her own company up for a prolonged period. As oppossed to Twiggy who is only a billionare on paper, Gina is a rare billionare who has billions in cold hard cash. Anyway it's game on and it wouldnt surprise me to see iron ore slide into the twenties, infact i think it's highly likely. Sure the price may fluctuate a bit over the next year or two. But i believe the iron ore price in the twenties has to happen to force sufficient tonnes out of the market. Rio is still ramping up production and Vale has monster tonnes to add to it's arsenal. The juniors exiting the market will not be enough and I believe something has to give and the weakest link at this stage of the game looks to be fmg.
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Last
$18.33 |
Change
0.000(0.00%) |
Mkt cap ! $56.43B |
Open | High | Low | Value | Volume |
0.0¢ | $18.49 | $18.10 | $7.317M | 401.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 120 | $20.50 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$16.50 | 4141 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 120 | 20.500 |
1 | 300 | 20.200 |
1 | 24000 | 20.000 |
7 | 4142 | 19.240 |
2 | 31967 | 19.220 |
Price($) | Vol. | No. |
---|---|---|
16.960 | 15 | 1 |
17.410 | 21993 | 2 |
17.420 | 6637 | 6 |
17.440 | 6588 | 1 |
17.710 | 19483 | 7 |
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