fate of fortescue, page-19

when your on a good thing..stick to it. FMG has more growth to come. the stock will move around with markets etc, but if he even gets close to hitting his numbers over the next several years, the current price will look cheap. He really needs to show the market that it can consistently produce the tonnage over a period of time and that the company can then move to its next level of expansion. I think FMG needs to produce a certain amount of ore for a certain period of time before he is out of the woods on some of the debt issues. He sold his first ship for $14m, so keep looking for the ships load rate to build up from here. If FMG hits a snag short term, it would be a buy imo. I have read in the press that FMG sold 180,000 tonnes of iron ore for $14m? This means he sold it for $77 per tonne and not the current spot rate. This would suggest to me [if the figures are right] that FMG must have to supply the Chinese at a set price for a period of time. Don't really know for how long etc. please double check this as i am not 100% sure. good luck.