FMG share price dropped to $18.57, just shy of $18.50 that I...

FMG share price dropped to $18.57, just shy of $18.50 that I thought it would be at the end of trade yesterday, we’re to now? The futures price in Dalian keep dropping, which is very unusual, normal business cycle or market manipulation? More propaganda that China will take the heat out of its construction industry, I do not believe it true as construction is on of the drivers of the Chinese economy, lower apartments prices will not go down well with Chinese apartment owners. FMG will be okay, as a low cost producer it’s profits are excellent, Twiggy did a great job stripping costs out of the operation. Sticking with iron ore in the Pilbara is the way forward. Simply dig the red dirt out and put it on a ship. If RIO did the same thing it’s shares would be triple what they are now, I have lost count of the money lost on dumb projects that cost billions that failed, the copper project in Mongolia and the disaster that will be the Simandou iron order mine in Guinea, billions will be wasted. Hands up any RIO shareholders who would like to volunteer to negotiate with the latest “rulers”. Twiggy has a steady hand on the tiller, 10% a year of profits spent on “ green steel” or whatever may be wasteful but could pay off. It is off the top of profits so it is an a indulgence I am prepared to tolerate. Elon Musk has been called an idiot for years but has proved his critics wrong, including all the shortest of his company. May be some more weakness in the price but I do not expect much. FMG is a great company well run, low cost producer, looking forward to a next dividend, not worried by the short term price, if you have some shares to sell for $15.00 let me know and I will back up the truck!!!

Good Luck