jb206, 5 years is a long time, I can't even predict next week....

jb206, 5 years is a long time, I can't even predict next week. If you want to invest in FMG, you have to expect the "growth" is limited due to it's business structure, i.e. Iron Ore only.

FMG was obviously "undervalued" due to it's widen discount. This has changed and as long as the "discount" stays around it's historical value of 10-15%, FMG will continue to do well.

Seaborne Iron Ore had a fantastic run in the last 6 months or so, Chinese steel mills have deserted Chinese local IO in favour of Seaborne IO. Back in September last year, Chinese local 62% IO was around 610 yuan and 62% Seaborne IO was around 540 yuan, yesterday Chinese 62% IO was 618.71 yuan and Seaborne 62% IO was 695.81. The price gap has widen so much now, the only concern for me is that there will be a "correction" sometime down the track, like everything.

So like any investing, you just have to keep up with the "right" information.

So good luck to us all.

DYOR
Frank