FMG Technical Analysis, page-36

Mid May the FMG bear trend reversed temporarily but just like at 6.50 and 5.50 it may be a temp false rise pattern.

The diamond bottom pattern is predicated on a rising rebounding share price but we have seen this break down from 5.37 back to 4.60 from 23 may to 23 June already and may happen again from here.

If debt cannot be reduced as you say and cash continues to build up then there is only 2 options left till April 2018 with all that surplus cash =

SHARE BUYBACKS & DIVIDEND INCREASES

Fortunately unlike other Twiggy controlled companies, FMG hasnt had to dilute shares by annual cap raisings which has put a put option under the FMG price unlike others that keep dropping away to record lows like Admedus for example. But it can breakout upwards again if they start share buybacks and dividend increases as the cash at bank is doing nothing useful.

There is another option, to takeover other IO producers cheaply with this cash warchest but why bother unless due to good synergy WA targets like MIN AGO