Aussie Joe
If you Look at the charts April/May is never a good time of year for Iron Ore and so even if it was a good year, right now would not be the time to buy!
As it happens, it is not a good year! lol
Combine seasonal factors, with Steel Mills closing and production from the Majors not letting up and you have a perfect storm.
We are at the beginning of this storm not the end!
FMG are not making money with a spot price under $50/dmt!
Their only hope is if the IO price recovers which IMO in the short term is no hope at all!
At what point will they become insolvent?
If the IO price recovers a little towards the end of the year FMG may scrape through, IMO that's about all you can hope for!
I feel so sad for the AGO holders, it's terrible watching people lose all their money!
IMO People who are advising you to sell are not your
enemies, on the contrary they are your only friends
here!
Aussie Joe If you Look at the charts April/May is never a good...
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Last
$21.76 |
Change
0.350(1.63%) |
Mkt cap ! $66.99B | |||
| Open | High | Low | Value | Volume |
| $21.49 | $21.76 | $21.32 | $97.85M | 4.532M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 1380 | $21.75 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.77 | 28571 | 3 |
View Market Depth
| Last trade - 16.10pm 01/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |