FMG 0.00% $20.35 fortescue ltd

I am waiting for the price to reach mid seven dollars and will...

  1. 36 Posts.
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    I am waiting for the price to reach mid seven dollars and will my lot. I was once attending the meeting when Twiggy was assessing the value of the share around 7 to 8 dollars, it was two years ago (he did not say that, but my quick calculus was). Do not expect that Brazil situation will last for long time, cause Brazil gov needs money and they will surrender, once the dust settles. Also, Chinese have, as I understand, direct investment in Vale. The biggest issue with FMG is, as we will all now, not any indication that they will diversify.
    There was some indication that they found some Lithium, (exploration) but nothing was announced yet.....
    The new management (almost 18 months) did not show any significant move towards that direction. In fact, they did not show any movements, except BB, at all. Twiggy runs the company, insisting on the big dividends payouts (what is fundamentally wrong), there is nothing to invest money into. No future, or they keep the info close to the hart.
    At the production rate well above designed, the increased faults are not unusual for every plant.....
    The work culture is not great, the turnover of people is huge.
    Some people are saying there is significant bullying within the workforce.
    Simply, there is no vision and future, so far for the stock to become investment grade.
    I hope it would change, otherwise I am selling my holding.
    This year is crucial, as they can accumulate money for the expansion, due to the good IO price....
    What is your opinion people?
 
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