For those lost at why the SP may be falling, consider the following (and try not to shoot the messenger for once):
- They've confirmed they're high grading... strip ratios to rise again soon. Meaning: they're just about through their best dirt. Cost will rise as they move to lower grades...
- Similarly, they've confirmed they're running down inventories: must be close to bare now imo. selling stockpiled dirt gives you $$ without any further cost. It's a bit of balance sheet theatrics... shift inventory to boost cash stockpile (but really current assets unchanged). Stockpiles also have an important role, e.g. if mine gets shutdown for whatever reason, can keep shipping if you have decent stockpiles.
- US dollar denominated debt not even mentioned, same with interest... lol. Still $900m of pre-payments to be delivered...
Look a little deeper and it's typical window-dressing by the boys..fair shake of the sauce bottle mate!
With rebar plumbing new lows it's not looking to flash... iron ore price below $40 by end of year imo.
For those lost at why the SP may be falling, consider the...
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Last
$15.88 |
Change
-0.320(1.98%) |
Mkt cap ! $48.89B | |||
| Open | High | Low | Value | Volume |
| $16.40 | $16.41 | $15.88 | $188.3M | 11.70M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 15657 | $15.87 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $15.89 | 2000 | 1 |
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| Last trade - 16.10pm 10/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |