there is no other way FMG will have to raise capital to survive as the NPAT ratio to debt is too high,very similar
to asciano a few years ago they did a $2.5b raise at $1 so 2.5b more shares on issue for total of about 3.5b shares
asciano then did a cosolidation sent the sp up to $4.50.
FMG npat of $1,559b to debt of $8.5b is unsustainable,they simply cannot pay it.
plus its no fluke the sp has ripped down from $6 since chanos canned it.
once the shorters really step in ive got no doubt this will see sub $1 unless FMG steps in before the end of next week & raises cash.
fmg the lehman of the commodities bubble?, page-55
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Last
$18.32 |
Change
-0.170(0.92%) |
Mkt cap ! $56.34B | |||
| Open | High | Low | Value | Volume |
| $18.46 | $18.61 | $18.28 | $58.30M | 3.162M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 29 | 107822 | $18.32 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.33 | 11850 | 42 |
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| Last trade - 14.28pm 12/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |