Goin long, of FMGs $2.4Bn USD cash balance, $1.2Bn USD is made up of I/O pre payments. This leaves them with $1.2Bn USD in cash. However of that $320m USD is restricted cash, leaving around $850m USD in cash. They also have around $700m USD in current payables. It doesn't look pretty. Even more worrying reading the notes to the accounts their finance lease liabilities have been massively discounted, their current finance lease liability is a $65m commitment but has been discounted down to $3m. Total finance lease liability expenditure commitments are $1.3Bn USD but have been discounted down to $461m USD. I'm not sure how these are structured, seems a bit odd for the near dated to be so heavily discounted. They will soon payout a dividend as well leaving them with less cash. Compared to FY15 their finance costs will be higher currently as well until they pay down some debt.
All imo dyor
Iron Ore Price, page-4550
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Last
$22.10 |
Change
0.100(0.45%) |
Mkt cap ! $68.04B | |||
| Open | High | Low | Value | Volume |
| $21.99 | $22.22 | $21.87 | $84.79M | 3.834M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 9803 | $22.09 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $22.11 | 10620 | 3 |
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| FMG (ASX) Chart |