Iron ore price, page-47710

OK I will try to explain it.
Yes the core busienss is profitable and sound.

However, they have these challenges
1. the debt of $5B in high rate junk bonds that is not reduced for 2 years now is a concern for some time. CS has them hand over fist and they wont pay it early as they MUST pay the pied piper for their saviour against Leucadia.
2. The low credit rating, why cant they get lower bond rates and AAA graded?
3. Blowing $2B on H hot air gas with NO revenue anywhere to be seen for a very long time.
4. High divy ratios funded by using debt burning $15B cash on building shareholders wealth ..bad idea.
5. Dropping IOP, yet still way above 80 but not as high as the prior 220 highs.

The focus away from the core business was what got the RIO CEO sacked and RIO lost $15B cash.
FMG BOD going down the same path as RIO did.

Pay down the debt and build a refinery at PH, been saying this for years on here.