Iron ore price, page-43514

Neo in the Matrix said "I stand here without fear because I remember. I remember that I am here not because of the path that lies before me but because of the path that lies behind me".

So what lies behind me as an FMG shareholder? It looks pretty much exactly like the path that lies before me.
In October 2019, which was about the time that the modern, strong balance sheet version of FMG appeared, I bought a lot of FMG shares for $8.40. Since then, and including the recently announced dividend of $0.86 and including franking credits I have recieved $8.86 in dividends (in other words I have received more in dividends in two and a half years than I originally paid for the shares).
During this period we have had some strong iron ore prices and also a collapse in iron ore prices. We have had a constant stream of negative analysts saying FMG is overvalued and a constant stream of people on hotcopper screaming that the sky is falling.
Through all of that negativity I have received more money back as dividends than I originally paid and the price of the shares themselves has more than doubled.

And right now looking at what lies before me nothing appears to have changed. We have highly volatile iron ore prices. We have posters on hotcopper arriving again in numbers and they will soon start screaming at us that FMG is overvalued. And those same posters will soon start pushing analysts reports at us saying FMG is overvalued.

However since what lies before me looks exactly like what lies behind me I am confident that the results will be the same. FMG will continue to be a superbly managed company. FMG will continue to invest well and grow its production, de risk its balance sheet and throw off solid income. FMG will continue to improve its product grade as it moves from commissioning to Eliwana to now getting ready to commission IBO. FMG will continue to develop renewable power projects which will reduce its cost of diesel energy in the Pilbara and give a revenue stream of hydrogen sales.

FMG dividends have been paying my kids private school fees and the share price growth has been growing my asset base. I have every confidence that will continue. .