Now on my vacation and well the main talk in China here is how things are going economically. It is topic number 1. The only positive articles coming out are news papers like ''global times'' which are government fed articles.
I am glad FMG are pulling a bit back on all this FFI investment. Again trialing or small scale production is fine, especially if internally used. Transporting H2 is just too difficult. Even Nasa struggles to limit leaks of H2 from its artemis rocket. We are entering a time were we definately do not want to be throwing investors money down the sink. The positives... Iron bridge coming into full production. The mine in Africa adding to our total tonnage. If we can overal increase production to around 220 million tonnes per year we should be able to maintain a 1 dollar half yearly dividend.
My feeling now is FMG price will sit between 21 to 24 dollars until dividend time. Then assuming IO prices hold around the 100 USD mark per tonne I expect there will be a decent drop below 20 dollars ex dividend and do not forget September and October are historically not the best months.
Longer term we will see 120 to 140USD per tonne again it is not if but when. Paitence.
I feel it is indeed possible we could breach under 15 dollars per share later this year. And for those who are accusing me of ramping the share price down. Well no that would be silly as I have lots of FMG shares that I do not plan to sell in the medium term. So i will suffer on paper like any other holder. But I will buy more if it drops significantly under 20 dollars.
I hold my judgment about Andrew Forrest. He did things right and some things I would question as maybe not the right way. He is only human.
- Forums
- ASX - By Stock
- FMG
- Iron ore price
Iron ore price, page-53043
-
- There are more pages in this discussion • 926 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
|
|||||
Last
$17.34 |
Change
0.520(3.09%) |
Mkt cap ! $53.38B |
Open | High | Low | Value | Volume |
$17.31 | $17.51 | $17.00 | $309.6M | 17.18M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 300 | $17.33 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$17.35 | 28897 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 300 | 17.330 |
3 | 1302 | 17.310 |
4 | 4250 | 17.300 |
2 | 2522 | 17.290 |
2 | 1080 | 17.280 |
Price($) | Vol. | No. |
---|---|---|
17.350 | 27484 | 2 |
17.380 | 1000 | 1 |
17.450 | 500 | 1 |
17.480 | 1000 | 1 |
17.500 | 3081 | 3 |
Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
Featured News
FMG (ASX) Chart |