The more negative posts I see the more I am likely to buy in. I do not think we will see a drop in the share price as low as5 dollars. Why?
Inflation. 5 dollars in 2017 is definitely not worth the same today. The company has assets and those assets will be worth more. Then we have 2 additional mining operations that were not around back in 2017 or 2018.
Iron bridge is a massive asset for example. Capital invested into it in the last 6 years from out profits.
Less overal debt is held compared to 2017 or 2018.
I feel assuming at least marginal profitability. That could be as low as 60USD per tonne prices. Then I do not think it would drop below 8 dollars.
At around 90 USD per tonne the FMG price should not go below 12 or 13 dollars.
Iron ore price, page-54409
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Last
$19.27 |
Change
-1.080(5.31%) |
Mkt cap ! $59.33B | |||
| Open | High | Low | Value | Volume |
| $20.29 | $20.61 | $18.69 | $319.2M | 16.25M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 35024 | $19.27 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.28 | 30769 | 3 |
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| Last trade - 16.10pm 08/10/2024 (20 minute delay) ? |
| FMG (ASX) Chart |