Iron ore price, page-53181

Currency as of a few mins ago was $0.65385123US
It was pushing $0.68US a few days ago and has since tanked down
as has the IO price.

A lower currency is good for us with FMG shares.
IO may well be bottoming out.

FMG will bounce up come reporting time and a fat dividend and the ones that held or are topping up will
be very happy. As it us now the yield is 10.33% which is double the banks and the stock is about 30% down from
its high of 6 months ago so I see it as a basement discount.

The last low was a year ago when it went to $19.28 before the slow rise over 6 months to get
to $29.95 a share.

I suspect it will go past $30 in 6 months time and come early Sept FMG will be back at about $25 a share
then it pulls back on ex div date a sit mainly does then starts to rise again.

The next 12 month FMG is selling 28 million more tones of IO due to getting permission to sell more via the port.
FMG also selling FFI products now like the software used for faster charging in cars. They also built a FMG Iron
ore EV truck which they can sell to other miners and save tens of millions in fuel costs.

July 2023 the IO price went as low as $92.03US then the slow rise up later in the year as the graph
shows below. Late December the IO price got to $132.93US which saw FMG get up so high in January of this year.

This happens most years. Only one year it went very high up to $240US/T and that saw divs
in that year at about $3.56 I think it was.

FMG goes up and down with the IO price as the two graphs below show.

As FMG sell more IO each year the profits will be higher along with sales on FFI products.