10.00 cent dividend not realistic based on IO priceAs they price...

10.00 cent dividend not realistic based on IO price

As they price their ore and enter into forward contracts based on current prices, they would as yet not be achieving the full benefit of the higher price

Realised price 6 months to Dec 2018 $47.00mt, March qtr $71.00mt.

June qtr should be $85.00mt plus

Cash generated covers the special dividend and tax

Additional cash to fund the Evalon project without needing to borrow

Question is will they opt to pay a decent dividend of 20.00 cents to 30.00 cents or pay down debt? Or a combination of both?

IMO dividend will be at least 20.00 cents. The June qtr update will provide us with guidance as to what the likely outcome will be.

In any event we must all agree that FMG is in the strongest financial position since they commenced production.

i have held shares for 8 years now, using a margin loan and number of shares held has ranged from 400k to 800k with plenty of pain during this period, having to meet margin calls and interest on the loan.

At $8.87 I am well in front on my 750k current holding and will this time round not succumb to greed as I have in the past.

I have set my exit price and will sell my holdings at my target price even though if they pay a dividend of at least 20.00 cents it more than covers the margin loan interest going forward

So far this year dividends received totalled $615k, which offset most of the pain over the time I have held on waiting for better days

I do believe that should they announce a major discovery with lithium or copper, or acquisition that the price will sky rocket to well over $10.00

I met AF at a bar in Sydney years ago and had a brief discussion with him and walked away with a very favourable opinion of the man, decent, humble and down to earth

He and his family deserve their success and with their money are making a difference to others less fortunate, unlike other billionaires that are self centred

My ramble for today.