Thanks convexity. I ask the question in the context of trading the stock. I note on 1 Jan 2019, FMG sp was $5.65 when 62% fe IO price was $US 73. Of course the company wasn't so cash rich as today and if I remember right FMG then was still in net debt.
Not having a crystal ball, I imagine a sustained $US 60 IO price during a period of negative sentiments (global recession and decoupling with our largest trading partner), the sp could reach $6-7 (if 58% fe discount increases by another $10, I think we will be close to breaking even and shipping ore at cost).
On a positive note, Twiggy managed to secure a high grade project in Africa for a song when we previously failed in Guinea. Recently he chuckled to a journo why pay billons upon billions for just 50% of 50% in reference to Simandou. Once that high grade ore is blended with the Pilbara dirt, we will have a premium product.
- Forums
- ASX - By Stock
- Iron ore price
Thanks convexity. I ask the question in the context of trading...
-
- There are more pages in this discussion • 3,480 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add FMG (ASX) to my watchlist
(20min delay)
|
|||||
Last
$26.05 |
Change
0.380(1.48%) |
Mkt cap ! $80.20B |
Open | High | Low | Value | Volume |
$25.80 | $26.22 | $25.79 | $125.7M | 4.828M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 10772 | $26.03 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$26.08 | 1300 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 10772 | 26.030 |
2 | 850 | 26.020 |
2 | 15772 | 26.010 |
2 | 9106 | 26.000 |
2 | 8191 | 25.990 |
Price($) | Vol. | No. |
---|---|---|
26.080 | 1300 | 1 |
26.100 | 43764 | 3 |
26.110 | 30792 | 7 |
26.120 | 2000 | 1 |
26.130 | 3340 | 4 |
Last trade - 16.10pm 30/04/2024 (20 minute delay) ? |
|
|||||
Last
$26.09 |
  |
Change
0.380 ( 1.79 %) |
|||
Open | High | Low | Volume | ||
$25.81 | $26.22 | $25.78 | 876694 | ||
Last updated 15.59pm 30/04/2024 ? |
Featured News
FMG (ASX) Chart |