I am holding 550k at average cost of $2.58, having bought in January around 200k at $2.80 and balance of shares held in the 30's, 40's & 50's
I would accumulate more should,
IO increase to above $65.0m
China announce significant projects
Further cost cutting
Major debt repayment
Restructure of $5.0b bonds due 2019
Clearly FMG is grossly undervalued but it has the issue of debt that is holding it back, it is addressing costs and therefore it's breakeven point is decreasing.
The market is heavily marking it down as opposed to others purely as it mines only one commodity and that it is highly geared
Iron Ore Price, page-66
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Last
$19.30 |
Change
-0.190(0.97%) |
Mkt cap ! $59.48B | |||
| Open | High | Low | Value | Volume |
| $19.52 | $19.55 | $19.26 | $61.72M | 3.187M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 27 | 11077 | $19.29 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.30 | 19802 | 26 |
View Market Depth
| Last trade - 15.50pm 04/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |