My $2 price is backed up by an earlier post I made on the 2/10 which placed a 'value' on FMG - based on 55mtpa and a margin of 40 per tonne of Fe - of $5. My new $2 price is based on concern that the grades of Fe are not up to scratch and China has started refusing <60% grades from MGX. I am particularly concerned that FMG released a correction to a AFR report on the matter only to the extent of who its largest supplier was but neglected to address the far more material issue of its lower than expected ore grades.
guess how low it can go., page-31
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Last
$20.10 |
Change
0.700(3.61%) |
Mkt cap ! $61.88B | |||
| Open | High | Low | Value | Volume |
| $20.26 | $20.49 | $19.94 | $337.2M | 16.71M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 38056 | $20.09 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.15 | 20000 | 1 |
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| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |