iron ore price, page-63

I don't understand why they paid the dividends too, but look at ARI. They paid 30m in dividends then announced a 750m cap raising... Questionable. 10 cent divi is about 310m for FMG. But you have to remember that's about 100m to AF... He'd want the dividend which he uses for other purposes as well as previously buying more FMG. In hindsight they should have used it for debt repayments, but who would have thought iron ore would go below 80?

Despite the aud falling being a good thing for iron ore producers you have to remember that over $9billion in debt is USD dominated. It's a double edged sword really. If iron ore goes mid 70s or below I'm betting on a capital raising, hence I'm short.