FMG's debt situation imo is a bit like the movies when you see the hero sprinting to get under a door which is coming down and they get through in the knick of time. Last year they were making hay no doubt about it, iron ore >$100/ton, big production. Yeah they put some debt away. But now IO is $61 and falling. Debt repayments will slow down big time and a pessimist would say stop.
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