fmg gets better response than most sovereigns, page-6

This is the first time ever for Fortescue that an announcement such as yesterday's has not been derided in some way by the press. Reports in several papers today speak of attaining investment grade for its bonds, and not a note of sarcasm from even the fairfax press. It was the fairfax reporting in 2004 that started the whole silly ASIC case going, - not to be forgotten.

Most of the commentators are now reporting properly, and are hoping that our long term memories of their negative attitudes have faded. Yeah right..not this nellie. Most lost credibility years ago, and in hindsight that is a good thing as it taught me that most commentators are entertainment value only.

FSUGY is up 4% in the US this morning, which partly reflects the strength here yesterday, but has to be good news.

The bottom line of all this is that raising money in future will be even easier than now. Also, the Fe spot price is up .5% again today to exactly $145.

Golden Sacks is the only nigger in the wood pile talking down the Fe price. Nev Power disagrees. I know who has my vote. I would be worried if everybody was talking it up.