It never made business sense!
i'm also annoyed FMG never took the opportunity to sell down a minority interest in their valuable infrastructure assets(say 40%). The window of opportunity was there for a lot longer than expected when IO prices held up extremely well. However even Blind Freddy knew things would get a lot tougher..... as we are now witnessing. For a company with all its eggs in one basket this was a golden opportunity to cut gearing to a more conservative level without losing any effective control of the overall business.
In my view Twiggy took his eyes off the main game.
As for AGO...... they will never be in the big league
FMG Price at posting:
$2.81 Sentiment: None Disclosure: Not Held
AGO Price at posting:
20.7¢ Sentiment: Hold Disclosure: Held
RIO Price at posting:
$58.67 Sentiment: Hold Disclosure: Held
