Hi Franke and team FMG.
I have a question around debt levels states in the report.
4.3 Billion gross debt-
When you add the 2022 debt up it =approximately $3.63 Billion
Excuse my ignorance but why the $700millopn difference?
Is this boats ,or tax ?
Helping understanding this would be appreciated
Also why did FMG not move on the $976 million 2019 debt at end of May - mid June, instead of locking themselves into a non debt repayment situation until March next year. ( has anyone actually have confirmation from FMG itself, that they are not able to repay debt any earlier? )
I can only think they have protected themselves from Lower ore price in the near future? Focus on paying tax bill, dividend and or both of these things and a acquisition.
Acquisition, move opposite to their committed strategy of debt repayment and dividends
I would value Franke , and others opinion on the above
Kind regards
MJAK
Go FMG
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