Say what you might, the point is that 'Shorters' have so far been correct, admittedly not very difficult in such a pronounced downtrend.. An opinion other than your own does not mean that the opinion was drivel, given the current market activity, possibly the opposite. Wishful thinking is never a sound basis for any investment or trading decision.
The issue for FMG remains that its huge Debt is USD denominated, maybe soon to approach three times market capitalization!! All hinges on the IOP, which I suspect will settle at a LT average of USD 45per tonne, with a potential spike into the 30s. Simply put - I do not believe that FMG can produce a margin at IOP 45pt, let alone pay down its debt.
IO bottom?, page-36
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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 |
View Market Depth
| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |