FMG

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Iron ore price, page-23130

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shaggyshan

174 Posts.

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13/08/20

11:51

Post #: 46507819
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Originally posted by zendiceman: ↑

First post in this forum. Although FMG has some resistance around $18 mark, I think that Nolan is actually correct. Why

1. Iron Ore has already become the number one ingredient commodity for post CV19 infrastructure boom think Rosevelt only on steroids in China. This will be followed across the rest of the world to get the unemployed back to work. It will happen in the USA, Africa, the rest of Asia, India etc. Demand is going to grow

2. FMG can ship its high quality products of Iron ore to market at or cheaper than its competitors around ~$13usdmt

3. Excellent management keeping costs down, increasing use of tech to keep handle on costs

4. Exclusive partnerships with Chinese steel makers. Twiggy & co have worked hard to create & maintain these very important relationships. To the extent that it has offended many people here. Any one remember that recent press conference when Twiggy intro that Chinese bloke?
Iron ore pricing is often opaque. Dealings are done behind closed doors. FMG is not on the nose the way Rio & BHP ( to a lesser extent ) has been in this key market. (I own BHP/ RIO / FMG / MIN / GRR & MGX)

5. The PE ration is still very low = value

6. Irrespective of how long CV19 has to run, its operations in the Pilbra are largely isolated from this. I love the WA gov's tough stance. This will protect its operations for years to come.

7. I heard rumours that a special div may also be on the cards.

8. My friends in Brazil tell me that Vale isn't come back anytime soon. And how long does it take to get Iron Ore from Brazil to Tianjin again ?

Fundamentally, this company is very very sound and will continue to print money.

Just my opinion and not financial advice.

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Hi Zendiceman,

I must admit I do agree with you on the possibility of infrastructure spending from multiple countries. However this will rely heavily on how soon those nations can get a grip on Kovid.

I also agree with Twiggies position with Chinese companies and its government. I believe we’d be the last company that China would consider putting restrictions on. But it will still be heavily reliant on my first point.

The rest of your points, while being genuinely valid, I think you’ll find are already factored in with where we are now.

FMG Price at posting: $17.74 Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

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(20min delay)
Last $19.76		Change -0.220(1.10%)		Mkt cap ! $60.84B

Open	High	Low	Value	Volume
$19.66	$19.80	$19.20	$191.1M	9.763M

Buyers (Bids)

No.	Vol.	Price($)
3	4673	$19.73

Sellers (Offers)

Price($)	Vol.	No.
$19.76	31740	2

View Market Depth

No.	Vol.	Price($)
1	1000	19.730
1	1000	19.700
1	3000	19.680
2	1552	19.650
1	5000	19.630

Price($)	Vol.	No.
19.800	2133	2
19.830	750	2
19.850	150	1
19.870	2200	2
19.880	3834	3

Last trade - 16.10pm 04/10/2024 (20 minute delay)

FMG (ASX) Chart

Iron ore price, page-23130

Buxton projects new graphite province discovery at WA Narryer play

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

BCI reaches close of funding facility for salt-first part of Mardie project

Week 40 Wrap: China's nonsensical stimmy hype wanes (shocking!); HotCopper's picks; oil & inflation

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

Cokal upgrades infrastructure for BBM ramp-up in Indonesia

White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

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Iron ore price, page-23130

Top Stories

Buxton projects new graphite province discovery at WA Narryer play

Neurotech knocked back by FDA as agency declares target condition not rare enough for special status

BCI reaches close of funding facility for salt-first part of Mardie project

Week 40 Wrap: China's nonsensical stimmy hype wanes (shocking!); HotCopper's picks; oil & inflation

Coda Minerals (ASX:COD) enters rights issue to further exploration in South Australia

Cokal upgrades infrastructure for BBM ramp-up in Indonesia

White Cliff jumps 24% on 'bonanza grade' copper rock chips at Rae project, Canada

Actinogen Medical ramps up Alzheimer’s treatment trials, targeting fast-track global approvals

Solstice Minerals to ramp up drilling campaign at Yarri Gold Project

Recce eyes Indonesia for novel anti-infective as Indo-Aus ties grow stronger

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News