Fmg can surprise people. They could announce further debt repayments or a new JV or exploration success. If you go back and read a lot of business articles printed in the fin review, many things are going on and the balance sheet looks solid these days. The iron ore price has dropped but our dollar has also dropped with it. The discount on the slightly lower grade FE is too high and the company may well go for the magnetite option soon. RIO is heavily shorted and some of that action might rub off short term, but things change very quickly these days. Dyor
Iron ore price, page-3534
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