Companies sitting on large high grade IO reserves in the ground have far less risk & costs associated with them than a producer who has made huge committments to ship IO in current market,i.e. interest & shipping rates really bit into falling IO revenue per ton.
IO resources in the ground can wait the appropriate time to be developed i.e. price/costs all favourable again.
It is very hard to wind back huge committments in this market without paying a high price for the cutbacks, so be warned.
Regards
Buffett
fmg is higher risk than unhedged io in ground
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Last
$21.79 |
Change
-1.190(5.18%) |
Mkt cap ! $67.09B | |||
| Open | High | Low | Value | Volume |
| $22.35 | $22.38 | $21.65 | $1.522B | 70.21M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 76120 | $21.79 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.80 | 17001 | 2 |
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| Last trade - 16.10pm 18/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |