Hi Team,
Very intelligent management team backed by a super intelligent Board, they have the finger on the market. I am confident they all plan ahead considering all possible scenarios. Post the most challenging times FMG has experienced ,Nev Powers stated they always had a PlanA.B and C, so why would now be any different.
They just freed up circa $400 million by not purchasing the Power station, I would be confident they will use this to pay down debt.
In one of my recent posts I quoted an email direct from FMG, stating they want to payout the 2022 debt as soon as possible, dependant on IO price. plan B, was to refinance at a much more favourable intereat rate.
This is consistent with the companies business priorities. 1/ debt repayment. 2/ cost reduction. ( in form of interest agents we year) current 9.75% interest rate. Could be sub 4%
In time it will be evident how effective and forward thinking this company and its management team are, and the market/insto's will finally take notice and need to get FMG on their books as a long term investment in their portfolio's and the share price will increase to a value that is truly representative of a well managed global player in the IO space, who has huge diversification potential, because they have been forward thinking in securing a large number of tenements in Australia and abroad. If you don't have the tenemants it's hard to explore and discover new opportunities. "Future proofing".
All the best
Cheers MJAK
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Last
$21.86 |
Change
0.040(0.18%) |
Mkt cap ! $67.30B |
Open | High | Low | Value | Volume |
$22.18 | $22.18 | $21.69 | $119.2M | 5.445M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 14450 | $21.85 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$21.87 | 152 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 5000 | 21.850 |
2 | 3705 | 21.820 |
1 | 25000 | 21.810 |
1 | 344 | 21.790 |
1 | 460 | 21.780 |
Price($) | Vol. | No. |
---|---|---|
21.870 | 152 | 1 |
21.880 | 57806 | 3 |
21.890 | 1964 | 4 |
21.900 | 34110 | 5 |
21.910 | 8756 | 1 |
Last trade - 16.10pm 09/07/2024 (20 minute delay) ? |
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FMG (ASX) Chart |