Average Joe, I couldn't agree more, management have done nothing than merely postpone the inevitable, they need to sell assets now....they think China will save them, they need to really think again, China can dictate the IO price at any given time, they always have other avenues to buy IO, FMG management are very foolish to think this...for 2 years now, they have procrastinated over asset selling, if they continue to wait, and if the IO price tanks, they will be in serious trouble....better to sell at a reasonable price than to think they can achieve a premium for there assets with the world economy as it currently stands...i hope they don't turn out to be another Babcock & Brown.
FMG Price at posting:
$2.10 Sentiment: Sell Disclosure: Held
(20min delay)