I have read a lot of news rports about the issuing of shares in fmg to cover the 3.7 million contract payable.
it seems that fmg books are good now!! i don't question that.
what i am interested in what happens 5-6 months from now after a period of sustained of poor economic conditions.
fortescue has high debtlevels but they lack an accurate value?
twiggy has been trying to sell a proportion of fmg to a range of chinese suitors for some time now, always seeking a premium not willing to be paid by interested parties. This has been reported in the smh.
FMG offers great upside. we all know if it gets though the next 8-10 months its sp will if not already by then be set rise significantly, especially witha positive 2010 outlook.
Boasteel has been only willing to receive half of its current contracted shipments of iron ore, after previously not willing to pay the premium set by twiggy in fmg. there are a lot of possible explainations and theories about what is happening and what could happen.
i'm just trying to work out the most likely.
the next financial statement is due in feb.
FMG Price at posting:
$1.72 Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)