Iron Ore Price, page-4515

Acca I hate to say I told you so, but ... as I argued earlier I expected their net assets for the full year to be decreased compared to last year (I believe you were arguing their financial position would be improved and that they would have excellent positive cash flow). Debt has increased, net assets have decreased. With current iron ore prices the next financial year will be much worse, as I have been arguing it appears next to impossible for FMG to pay off their debt out of cashflows as well as pay shareholders a return. The financials make it glaringly obvious now, FMG absolutely need to either sell assets or do a capital raising, otherwise they are in strife (long term). It seems irresponsible to once again pay a dividend when net assets are declining and no way to pay off their monstrous debt.

All imo dyor.